On Wednesday, a swathe of key indices of Wall St. had winded up the session in an ambivalent tenure with Wall Street bellwether S&P 500 eking out marginal gains, as investors’ optimisms still remain rancorous over a latest upsurge in pandemic cases, a sky-scrapping inflation alongside growing dubitability over the US Fed’s monetary policy. In point of fact, in the day’s Wall Street had opened up in an upbeat tenure with S&P 500 gaining as much as 1.9 per cent earlier in the session, however, the Wall Street bellwether had pared much of the gains in late-afternoon US trading hours while Nasdaq closing out the session in a negative territory. Trade-sensitive Dow, in tandem, had wrapped up the session almost flatlined. Nevertheless, in the day’s modest high-tide in Wall Street, was almost entirely catapulted by an ease in Omicron-led panic sell-off, as Tuesday’s US capital market was tottered heavily following remarks from US Fed Chair Jerome Powel that a soaring US inflation had led to belief that this could be the time to accelerate US Fed’s monthly bond-taper program, eventually sending shockwaves across global equity markets.
Wall St. ends mixed amid Omicron, inflation fears
Citing statistics, in the day’s Wall St closing bell, trade-sensitive Dow closed almost flatlined at 34,486.75 and benchmark S&P 500 added 0.30 per cent, while tech-heavy Nasdaq shed 0.17 per cent to 15,510.87.
Meanwhile, vindicating the latest leg of market volatility through an upscaled uncertainties across a swathe of fundamentals ranging from inflation to pandemic-led supply chain disruption, an economist and portfolio strategist at New York Life Investments, Lauren Goodwin said, “It was not surprising to see volatility as investors digest substantial uncertainties including the lack of information on the Omicron variant… the latest signals from the Fed which are both potentially major changes in market expectations…For many investors, this volatility is a buying opportunity…”