Stock market today: Stocks rebounded with a sharp rise in oil prices ahead of the OPEC meeting
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The recovery also extended to Europe. The Frankfurt Stock Exchange index rose about 1.5%.
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Stocks were rebounding from their plunge on Tuesday, with markets monitoring key economic data as well.
Futures rose 336 points, or 1%, after falling 1.9% on Tuesday, and
Futures are up 1.3% after falling 1.9% the day before.
Futures rose 1.5% after falling 1.6% Tuesday.
“US stock futures are recovering with European stocks and other risky assets like oil this morning as Omicron’s fears continue to ebb and flow,” wrote Tom Isay, founder of Sevens Report Research.
On Tuesday, stocks rose after major producers of Covid-19 vaccines and treatments said Treatments were likely to be less effective In immunization against a new variant, Omicron. In addition, Federal Reserve Chairman Jerome Powell said the Fed may soon consider increasing the taper pace, or reducing its bond-buying program. The merger sent the S&P 500 down nearly 3% from its all-time high, hit in November.
Now, investors pounce on stocks that were up for sale, although the S&P 500 and Dow remain well below their highs.
Along with a rising stock market, investors generally move from safer to riskier assets. The price of the 10-year Treasury fell as the yield climbed to 1.5% overnight, after hitting 1.42% on Tuesday. West Texas Intermediate crude was up more than 4% to more than $69 a barrel.
Investors also think about the latest economic data. The ADP jobs report revealed that the US added 534,000 private sector jobs in November, beating estimates of 525,000. This is the Second strong jobs report in a row, but this could mean that the Fed could reduce support from markets and the economy more quickly. The most reliable labor market data point is sure to be Friday’s employment report from the Bureau of Labor Statistics.
Later, the Institute of Supply Management will release its Manufacturing Index. Investors want to see supply chain constraints ease and manufacturing activity continues to grow at a fast clip.
The
It closed up 0.8%, with
It rises 0.4%. Japan
It was up 0.4%.
The recovery also extended to Europe, with Stokes 600 The index rose 1.2%.
Here are six stocks on the move on Wednesday:
An apple
(Stock ticker: AAPL) It was higher – and one of the few – bullish in New York on Tuesday, up 3.2%. The stock rose 1.9% in pre-market trading.
Salesforce.com
(CRM) stock fell 6.2% after the company’s announcement he won $1.27 per share, beating estimates of 92 cents per share, on sales of $6.9 billion, above expectations of $6.8 billion.
Hewlett Packard Foundation
(HPE) stock fell 1.1% after the company’s announcement he won 52 cents a share, beating estimates of 48 cents a share, on sales of $7.35 billion, below expectations of $7.38 billion.
Zscaler
(ZS) shares rose 6.8% after the company’s announcement he won 14 cents a share, beating estimates of 12 cents a share, with sales of $230.5 million, above expectations of $212 million.
Vertex Pharmaceuticals
VRTX stock rose 6.1% after the company’s announcement Positive results About a drug intended for a serious genetic disorder of the kidneys.
by dash
DASH stock is up 2.9% after being upgraded to Buy from Hold in Gordon Haskett.
Write to Jacob Sonenshine at jacob.sonenshine@barrons.com and Pierre Bryanson in pierre.briancon@dowjones.com
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