Wall St. closes mixed as Nasdaq curtails above 16,000 for first time; Dow, S&P totter



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Wall St. closes mixed as Nasdaq curtails above 16,000 for first time; Dow, S&P totter

On Friday, a swathe of stock indices in the Wall St. had closed out the session in a mixed texture with Nasdaq rounding off above a 16,000-mark for the first time, while Dow and S&P 500 retreated amid frets of a renewed lockdown measure in Central Europe.

Nonetheless, S&P 500 alongside Nasdaq had notched weekly percentage gains, while Dow succumbed to losses after winding down four out of five past sessions in red inks, marking off the trade-sensitive index’s second-successive weekly loss what in effect had rubbed out all of its November gains.

If truth is to be spoken, in the day’s overall Wall Street trend to follow through a steep downward spiral was largely catalysed by frets of renewed lockdown measures in Europe, as banking, energy alongside airline stocks were plunged in the wake of a long winter that could be plagued further by a resurgence in pandemic outbreak.

On top of that, pandemic cases were soaring in the United States, too, with new delta cases doubling up in less than a week. Earlier in the day, Government officials said in a statement that Austria would be the first eurozone country to reimpose pandemic restriction from next week, while Germany had cautioned of an entire lockdown of the country, muddling investors’ sentiment.

Wall St. falls as Europe set to reimpose pandemic lockdown

In the day’s Wall St. closing bell, trade-sensitive Dow dwindled as much as 0.75 per cent to 35,601.91 and benchmark S&P 500 shed 0.14 per cent to 4,697.95, while tech-heavy Nasdaq added 0.40 per cent to 16,058.34.

On the week, Dow wobbled 1.46 per cent and S&P 500 added 0.18 per cent, while Nasdaq jumped 1.02 per cent amid a passive gyration towards growth stocks amid a US Fed debate on an early wind-up to bond-tapering. Meanwhile, addressing to a mass-scale flight-to-safety move in the day’s Wall Street, Infrastructure Capital Management Chief Executive, Jay Hatfield said in a client note, “It's a normal time to take risk off.

And in this case, there's just so much liquidity that the market doesn't go down - just people take risk off by going into safe havens. Right now, COVID-19 is kind of a headline of the day. Every trade in the market right now is being driven by COVID.