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Wall Street closed higher on Wednesday, with the S&P 500, the Dow and the Nasdaq notching their longest winning streak since 2017. In the meantime, the dollar Index is approaching its annual low, accompanied by a decrease in oil prices. All three major stock indexes ended in green.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.3% or 111.19 points to close at 37,656.52. Notably, 21 components of the 30-stock index ended in positive territory, while eight ended in negative zone and one remained unchanged.The upbeat sentiment continued into Wednesday, which saw the Nasdaq, the Dow and the S&P 500 rising for the eighth straight session.
The tech-heavy Nasdaq Composite finished at 15,099.18, rising 0.2% due to the strong performance of the large-cap technology stocks.The major gainer of the Nasdaq Composite was Moderna, Inc. (MRNA - Free Report) after jumping 3.5%. Moderna currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The S&P 500 gained 0.1% to finish at 4,781.58. Out of 11 broad sectors of the benchmark, eight ended in positive territory while three finished in negative zone. The Real Estate Select Sector SPDR (XLRE), theConsumer Staples Select Sector SPDR (XLP) and the Health Care Select Sector SPDR (XLV) rose 0.6%, 05% and 0.4%, respectively, while the Energy Select Sector SPDR (XLE) declined 0.4%.
The fear-gauge CBOE Volatility Index (VIX) was down 4.3% to 12.4. A total of 11.96 billion shares were traded on Wednesday, lower than the last 20-session average of 12.67 billion.The S&P 500 posted 52 new 52-week highs and no new lows; the Nasdaq Composite recorded 218 new highs and 60 new lows.
Dollar Index Nears Annual Low
The dollar index dropped to 101.312 on Wednesday. This year, the index has seen a decline of more than 2%, which is its first negative performance in three years after a drop of 6.7% in 2020.
In December, the dollar index has decreased by 2%, and marking the first month with negative performance in the last three months. Furthermore, the index is expected to experience a decline of 4.6%, making it the weakest quarterly performance since the fourth quarter of 2022.
Oli Price Retreat
Oil prices experienced a decline on Wednesday after surges in the week that were attributed to worries about disruptions in shipping through the Red Sea caused by attacks by Yemeni militants. The price of U.S. crude settled at $74.11 per barrel, representing a decrease of 1.93%, while Brent saw a drop to $79.65, translating to a 1.75% reduction. This pullback followed a rise of over 2% on Tuesday that was influenced by Houthi militants claiming responsibility for launching a missile attack on a container vessel.
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Stock Market News for Dec 28, 2023
Market News
Wall Street closed higher on Wednesday, with the S&P 500, the Dow and the Nasdaq notching their longest winning streak since 2017. In the meantime, the dollar Index is approaching its annual low, accompanied by a decrease in oil prices. All three major stock indexes ended in green.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.3% or 111.19 points to close at 37,656.52. Notably, 21 components of the 30-stock index ended in positive territory, while eight ended in negative zone and one remained unchanged.The upbeat sentiment continued into Wednesday, which saw the Nasdaq, the Dow and the S&P 500 rising for the eighth straight session.
The tech-heavy Nasdaq Composite finished at 15,099.18, rising 0.2% due to the strong performance of the large-cap technology stocks.The major gainer of the Nasdaq Composite was Moderna, Inc. (MRNA - Free Report) after jumping 3.5%. Moderna currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The S&P 500 gained 0.1% to finish at 4,781.58. Out of 11 broad sectors of the benchmark, eight ended in positive territory while three finished in negative zone. The Real Estate Select Sector SPDR (XLRE), theConsumer Staples Select Sector SPDR (XLP) and the Health Care Select Sector SPDR (XLV) rose 0.6%, 05% and 0.4%, respectively, while the Energy Select Sector SPDR (XLE) declined 0.4%.
The fear-gauge CBOE Volatility Index (VIX) was down 4.3% to 12.4. A total of 11.96 billion shares were traded on Wednesday, lower than the last 20-session average of 12.67 billion.The S&P 500 posted 52 new 52-week highs and no new lows; the Nasdaq Composite recorded 218 new highs and 60 new lows.
Dollar Index Nears Annual Low
The dollar index dropped to 101.312 on Wednesday. This year, the index has seen a decline of more than 2%, which is its first negative performance in three years after a drop of 6.7% in 2020.
In December, the dollar index has decreased by 2%, and marking the first month with negative performance in the last three months. Furthermore, the index is expected to experience a decline of 4.6%, making it the weakest quarterly performance since the fourth quarter of 2022.
Oli Price Retreat
Oil prices experienced a decline on Wednesday after surges in the week that were attributed to worries about disruptions in shipping through the Red Sea caused by attacks by Yemeni militants. The price of U.S. crude settled at $74.11 per barrel, representing a decrease of 1.93%, while Brent saw a drop to $79.65, translating to a 1.75% reduction. This pullback followed a rise of over 2% on Tuesday that was influenced by Houthi militants claiming responsibility for launching a missile attack on a container vessel.