The DOW Jones Industrial Average moved higher again on Wednesday as investors shrugged off Omicron concerns.
Still, they cannot shrug off lockdowns.
Travel stocks are lower, as is oil. Market moves show investors are still worried about potential pandemic lockdowns. With the U.S. seeing record cases of COVID, most traders remain cautious.
Traders are now expecting confirmation of earlier studies that suggest Omicron causes mild symptoms.U.S. Dollar and Treasuries
The yield on the 10-year Treasury rose one basis point. The dollar strengthened against a basket of major currencies.
|U.S. Dollar Index (DXY):||95.84||-0.37%|
|U.S. 1 Year Treasury Bill||0.387%||0.097||0.290%|
|U.S. 5 Year Treasury Note||1.263%||0.002||1.248%|
|U.S. 10 Year Treasury Note||1.498%||0.012||1.486%|
Stocks To Watch
Tesla is up on news that CEO Elon Musk exercised the final batch of his options. Musk received the options as compensation for his work on Tesla. Moreover, these options are the likely reason why he was selling shares.
Tesla’s competitor Plug Power is not doing as well. The hydrogen fuel cell company fell 2.5% in Wednesday’s trading, after dropping 4.29% on Tuesday. As more competitors enter the market, it will be more difficult for the company to maintain its position as a hydrogen tech leader.
Vaccine stocks continue to fall on Omicron optimism. Shares of Moderna dropped almost 2.5% while Novavax dropped 1.5%. On the other hand, Pfizer fell 0.7%.
Commodities To Watch
Crypto markets experienced another major correction, with Bitcoin dropping below $47,000. The global crypto market cap is $2.20T, a 5.37% decrease over the last day. Bitcoin’s dominance is currently 40.19%, an increase of 0.17% over the same period.
|Currency||Symbol||Price||Chg. %||Market Cap.|