S&P 500 rises for a third day, nears another record as investors bet economy bucks omicron threat
U.S. stocks were slightly higher Wednesday as investors continued to bet the impact of the omicron variant of Covid-19 would not be as threatening as many previously thought.
The Dow Jones Industrial Average reversed higher near the end of the trading day, adding 35.32 points, or 0.1%, to reach 35,754.75.
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The S&P 500 inched 0.3% higher to 4,701.21 and sat 0.9% from its record.
The tech-heavy Nasdaq Composite rose 0.6% to 15,786.99.
Some of the comeback was validated by vaccine news Wednesday. Pfizer and BioNTech said three doses of their vaccine are effective at neutralizing the omicron variant, citing their own preliminary lab tests. They also said two doses may still protect against severe disease.
Many had already anticipated the new variant would be manageable, an expectation that helped drive the rebound Monday and subsequent rally Tuesday.
Reference: CNBC
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