The S&P 500, Dow and Nasdaq each erased earlier gains to dip into the red. Dana Peterson - The Conference Board Chief Economist and Sam Stovall, CFRA Chief Investment Strategist joined Yahoo Finance Live to discuss today’s market action.
After advancing as much as 1.9% earlier in the day, the S&P 500 had given up most of these gains by late afternoon, while the Dow and Nasdaq turned negative. The U.S. Centers for Disease Control confirmed the first case of the Omicron variant detected in the country and that the person had returned from South Africa on Nov. 22. Wall Street had tumbled on Tuesday after Fed Chair Jerome Powell said the central bank would consider accelerating the withdrawal of its bond buying program at its December meeting amid a surge in inflation and stronger economy.
(Bloomberg) -- In the pandemic world, nobody relies too much on historic precedent. Things change too quickly. And yet one pattern that has endured is the equity market’s weird habit of rising whenever the calendar flips.Most Read from BloombergReliving the New York Subway Map DebateChina Cash Flowed Through Congo Bank to Former President’s Cronies‘Pension Poachers’ Are Targeting America’s Elderly VeteransAs usual, stocks are up on the first trading day of a month, led by small caps. The Russell