Shares on Wall Street posted modest gains on Wed, rising for a third straight
session. Investors are becoming increasingly convinced that the omicron variant
will be significantly less threatening as previously feared.
The S&P 500 index rose 0.31%, and now sits just 0.9% from an all-time record
high. The Dow Jones Industrial Average gained 35.32 pts, or 0.1%, to close at
35,754.75. The tech-heavy Nasdaq Composite rose 0.6%. The small cap
Russell 2000 edged higher by 0.8%.
US Treasury yields continue to track the stock market. The 10-year Treasury
note yield notched up 4.79 basis points (bps) to 1.5212%.
Apple (AAPL US, +2.28%) rose after it won a delay to court-mandated changes
to its App Store by Thur as it appeals the ruling. Apple is nearing a U$3T market
US cruise liners were among the top gainers after Pfizer (PFE US, -0.62%) and
BioNTech (BNTX US, -3.55%) said initial lab studies show a third dose of their
Covid-19 vaccine neutralizes the omicron variant. Shares of Norwegian Cruise
Line (NCLH US, +8.2%), Carnival (CCL US, +5.51%) and Royal Caribbean
(RCL US, +5.21%) rose.