Stocks ended the session mixed on Wednesday, with both the S&P 500 and Dow Jones Industrial Average rising to fresh closing records, while the Nasdaq slipped lower. This was the Dow's first record close since November and marked the benchmark's sixth straight winning day.
Here's how the market settled on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
U.S. sets new pandemic peak for average daily infections:
COVID cases in the United States reached their highest level ever recorded on Tuesday as the the nation combats the spread of two highly infectious variants.
Daily infections nationwide reached a record seven-day average of more than 265,000 as of Tuesday, according to data compiled by Johns Hopkins University. That average topped the previous record of roughly 252,000 average daily cases set almost a year ago on Jan. 11, 2021.
The new pandmeic peak for the U.S. comes as the Delta and Omicron variants are spreading simultaneously, especially as the highly mutated Omicron strain is estimated to account for 58.6% of U.S. infections, according to data compiled by the U.S. Centers for Disease Control and Prevention. The Delta variant, which had been the dominant strain in the past few months, accounts for 41.1% of all U.S. cases, CDC data shows.
Pending home sales fell in November:
The number of pending sales for homes, meaning homes that are under contract to be sold, declined month-over-month in November, as tight housing supply and rising prices kept some potential buyers out of the market.
The National Association of Realtors' (NAR) Pending Home Sales Index fell 2.2% in November over October, missing consensus economists expectations. Pending sales also dropped 2.7% year-over-year.
"There was less pending home sales action this time around, which I would ascribe to low housing supply, but also to buyers being hesitant about home prices," NAR Chief Economist Lawrence Yun said in a statement.
Here's how market benchmarks started trading soon after opening bell:
S&P 500 Index: +0.09% or +4.27 points to 4,790.62
Dow Jones Industrial Average: +0.05% or +17.54 points to 36,415.75
Nasdaq Composite Index: +0.14% or +21.44 points to 15,803.16
