S&P 500 trades in record-close territory in final session of week ahead of Christmas as Wall Street shakes of omicron fear

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U.S. stock indexes headed for a third straight gain and the S&P 500 was aiming for trade in record-close territory on Thursday, ahead of the long Christmas holiday weekend, amid optimism that global economies won’t be derailed by the omicron variant of COVID. Markets in the U.S. will be closed on Friday in observance of Christmas. The S&P 500 index was trading up 0.5% at 4,719, well above its Dec. 10 record close at 4,712.02. The Dow Jones Industrial Average was 0.5% higher at 35,944, while the Nasdaq Composite Index advancing 0.3% to reach 15,561. Investors were parsing a batch of data ahead of the holiday. Weekly jobless claims were unchanged at 205,000 in the week ended Dec. 18, while consumer spending and personal spending nudged higher, the 12-month PCE inflation indicator rose 5.7% in November, while durable goods orders rose 2.5% forthe month. Meanwhile, orders for durable goods increased 2.5% in November, the Commerce Department said Thursday. Economists had forecast a 1.5% gain in orders for durable goods, which are products made to last at least three years.

-Mark Decambre

 

(END) Dow Jones Newswires

12-23-21 0937ET

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