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Benchmark US indices slipped into the red on Thursday, December 9, after countries enforced new travel restrictions on Omicron concerns and jobless benefits claims fell to a record low last week.
The S&P 500 slipped 0.72% to 4,667.45. The Dow Jones stayed flat at 35,754.69. The NASDAQ Composite fell 1.71% to 15,517.37%, and the small-cap Russell 2000 declined 2.02% to 2,225.73.
The Omicron concerns gained strength after several countries clamped new travel restrictions to curb the virus’s spread. On Thursday, the US Food and Drug Administration (FDA) approved the emergency use authorization for the Pfizer-BioNTech booster third dose in 16-17 years old.
Meanwhile, the Labor Department said the jobless benefits claims declined by 43,000 to 184,000 in the week ended Dec 4, the lowest level since 1969. Economists expect the volatility to continue amid a tight labor market and inflationary pressures.
Nine of the 11 segments on the S&P 500 index closed in the red on Thursday. Healthcare and consumer staple stocks gained while consumer discretionary, energy, and real estate stocks trailed.
In the healthcare sector, CVS Health Corporation (CVS) stock gained over 4% after announcing a 10% dividend raise and share buyback program. Pfizer, Inc. (PFE) stock rose 1.71% after getting emergency use authorization for COVID-19 vaccine booster dose in 16 years and older.
Amazon.com, Inc. (AMZN) fell more than 1% intraday trading after Italy's antitrust regulators fined it US$1.3 billion. Nu Holdings Ltd. (NU) stock jumped over 12% in its NYSE debut.
The Ciena Corporation (CIEN) stock rose more than 15% after announcing fourth-quarter and year-end results in line with expectations.
The global cryptocurrency market was down 6.44%. Bitcoin (BTC) fell by 6.57% at 3:41 pm ET, according to coinmarket.com.
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Futures & Commodities
Gold futures declined 0.53% to US$1,776.05 per ounce. Silver futures decreased by 2.05% to US$21.973 per ounce, while copper declined 1.92% to US$4.3092.
Brent oil futures decreased by 2.53% to US$73.90 per barrel and WTI crude futures were down 2.61% to US$70.47.
Bond Market
The 30-year Treasury bond yields decreased 0.37% to 1.868, while the 10-year bond yields were down 1.23% to 1.490.
US Dollar Futures Index surged 0.35% at US$96.215.
