Wall Street opens for the fifth day higher; S&P 500 hits record high

The S&P 500 hovered all-time highs on Tuesday, as certainties about the US economy helped to ignore fears about travel disruptions and store closures caused by Omicron, extending the rally in Wall Street to a fifth day.

The Centers for Disease Control and Prevention (CDC) on Monday shortened the recommended isolation time for Americans with asymptomatic cases of Covid-19 to five days from the previous guide of 10 days.

The CDC’s decision, along with approvals of new pills and more vaccines to combat the Covid-19, have helped investors look past thousands of flight cancellations as Apple Inc. closed its stores in New York due to the increase in cases.

The top three indices were heading for monthly gains. The S&P 500 and the Nasdaq posted their best four-day rally since November 2020 on Monday, with the S&P 500 closing at a record high.

Among the top 11 sectors in the S&P 500, eight were up on Tuesday. The financier led the hikes.

The Dow Jones Industrial Average rose 114.24 points, or 0.31%, to 36,416.62 units, while the S&P 500 gained 7.62 points, or 0.16%, to 4,798.81 units. The Nasdaq Composite it added 3.97 points, or 0.03%, to 15,875.23 units.

Some megacap firms have exploded in the recent rally, with Tesla Inc rising 0.8% after climbing nearly 22% in market value in the last four sessions.

While, Apple it was down 0.4% after coming close to becoming the first US company to reach $ 3 trillion in market capitalization in pre-market trading.


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