S&P 500 Health Care Futures Market News and Commentary
What you need to know…
The S&P 500 Index ($SPX) (SPY) on Wednesday closed down -1.18%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.34%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.60%.
U.S. stock indexes on Wednesday opened higher, posted their highs mid-morning, and then trended lower the remainder of the day and settled moderately lower. The S&P 500 fell to a 6-week low, the Dow Jones Industrials dropped to a 1-3/4 month low, and the Nasdaq 100 posted a 1-month low.
Stocks on Wednesday initially moved higher on better-than-expected U.S. economic data, but then fell on a hawkish Fed Beige Book and news that the first case of the omicron Covid variant was discovered in the U.S.
Wednesday’s U.S. economic data was bullish for stocks. U.S. Nov ADP employment rose +534,000, showing a stronger labor market than expectations of +525,000. Also, the Nov ISM manufacturing index rose +0.3 to 61.1, just below expectations of 61.2.
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