Stocks ended Tuesday's session mixed as the S&P 500 slipped from its record and the Nasdaq fell as investors continued to weigh the Omicron's risk on the U.S. economy. However, the Dow Jones Industrial Average rose by nearly 100 points to mark its fifth straight winning day.
Here's how the market settled on Tuesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
Apple closes NYC stores to indoor foot traffic:
Apple
The tech giant's response follows a spike in COVID infections due to the rapidly spreading Omicron variant in the city. Apple did not indicate how long the indoor closures will last.
"We regularly monitor conditions and we will adjust our health measures to support the well-being of customers and employees," the company said in a statement Monday. "We remain committed to a comprehensive approach for our teams that combines regular testing with daily health checks, employee and customer masking, deep cleaning and paid sick leave."
U.S. home prices surge again in October:
The cost of U.S. homes surged again in October as the housing market continues to boom in the wake of the coronavirus pandemic.
The S&P CoreLogic Case-Shiller 20-city home price index rose 18.4% in October compared to the prior year, the report published Tuesday showed. While the gain was a slight declaration from the 19.1% year-over-year increase posted in September, October's print was in-line with consensus economists expectations.
Moreover, all cities posted double-digit annual gains, with the hottest markets being Phoenix (up 32.3%), Tampa (up 28.1%), and Miami (up 25.7%); the cities was the smallest increases were Minneapolis and Chicago, rising by 11.5% each.
Craig Lazzara, managing director at S&P Dow Jones Indices, said in a statement that it remains unclear whether or not the pandemic-induced shift in the housing market towards houses over renting is permanent.
"We have previously suggested that the strength in the U.S. housing market is being driven in part by a change in locational preferences as households react to the COVID pandemic," Lazzara said. "More data will be required to understand whether this demand surge represents an acceleration of purchases that would have occurred over the next several years, or reflects a more permanent secular change."
Here's how market benchmarks started trading after opening bell:
S&P 500 Index: +0.08% or +3.81 points to 4,795.00
Dow Jones Industrial Average: +0.07% or +25.90 points to 36,328.28
Nasdaq Composite Index: +0.08% or +12.63 points to 15,883.89
