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Dec. 8, 2021, 4:44 p.m. EST

S&P 500 ends near record and Nasdaq closes higher on hope that omicron won’t derail economic rebound

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By Mark DeCambre and Barbara Kollmeyer

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The cost of living jumped 0.9% in October and rose 6.2% annually, the highest rate since November 1990.

Economists polled by Dow Jones Newswires and The Wall Street Journal are forecasting CPI to rise 0.7% for November and 6.7% annually. That data comes ahead of Wednesday’s JOLTS job openings for October, which s howed that the number of job openings across the country rose to 11 million in October from 10.6 million in the prior month. That’s just short of a record 11.1 million in July.

Meanwhile, the so-called quit rate for government and private-sector workers dipped to 2.8% in October from a record 3%. The decline came after three straight months of all-time highs.

What companies are in focus?

  • U.S. listed shares of Chinese social-media company Weibo Corp. /zigman2/quotes/206830028/composite WB +0.98% fell 2.5% after shares of the company sank in their Hong Kong trading debut , falling more than 7%.

  • Stock in Stitch Fix /zigman2/quotes/208173073/composite SFIX +0.85% slumped 24% after the company, which sells clothing through subscriptions and more, issued disappointing guidance.

  • Investors will be watching shares of crypto-pegged companies, including Coinbase Global Inc . /zigman2/quotes/225893452/composite COIN -1.88% , whose executives will be testifying to Congress. Shares of Coinbase closed up 0.4% early Wednesday.

How are other assets trading?

  • The yield on the 10-year Treasury note  /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y +0.84% rose nearly 3 basis points to 1.508% Wednesday. Treasury yields and prices move in opposite directions.

  • The ICE U.S. Dollar Index  /zigman2/quotes/210598269/delayed DXY -0.58% , a measure of the currency against a half-dozen other monetary units, was down 0.5% at 95.884.

  • In oil futures, West Texas Intermediate crude  CL00  for January delivery   closed up at a two-week high , up 0.4% to $72.36 a barrel.

  • Gold futures  /zigman2/quotes/210034565/delayed GC00 +0.94% for February delivery  gained less than 0.1% at $1,785.50 an ounce.

  • The Stoxx Europe 600 Index  /zigman2/quotes/210599654/delayed XX:SXXP +0.55% slipped 0.6%, while London’s FTSE 100 Index  /zigman2/quotes/210598409/delayed UK:UKX +0.72% finished virtually unchanged at 7,337.05.

  • In Asia, the Shanghai Composite Index /zigman2/quotes/210598127/delayed CN:SHCOMP +0.0092% closed 1.2% higher, while the Hang Seng Index  /zigman2/quotes/210598030/delayed HK:HSI -1.19% was rose 0.06% in Hong Kong and China’s CSI 300  /zigman2/quotes/210598128/delayed XX:000300 -0.58% advanced 1.5%. Japan’s Nikkei 225 Index  /zigman2/quotes/210597971/delayed JP:NIK +0.98% closed up 1.4%.

/zigman2/quotes/206830028/composite
US : U.S.: Nasdaq
$ 21.67
+0.21 +0.98%
Volume: 1.28M
May 20, 2022 4:00p
P/E Ratio
11.80
Dividend Yield
N/A
Market Cap
$5.29 billion
Rev. per Employee
$367,184
loading...
/zigman2/quotes/208173073/composite
US : U.S.: Nasdaq
$ 8.30
+0.07 +0.85%
Volume: 2.38M
May 20, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$900.19 million
Rev. per Employee
$195,801
loading...
/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 66.15
-1.27 -1.88%
Volume: 15.17M
May 20, 2022 4:00p
P/E Ratio
5.81
Dividend Yield
N/A
Market Cap
$14.69 billion
Rev. per Employee
$1.93M
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.81
+0.02 +0.84%
Volume: 0.00
May 23, 2022 4:50a
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
102.55
-0.60 -0.58%
Volume: 0.00
May 23, 2022 4:40a
loading...
/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,859.40
+17.30 +0.94%
Volume: 43,378
May 23, 2022 4:40a
loading...
/zigman2/quotes/210599654/delayed
XX : STOXX
433.48
+2.38 +0.55%
Volume: 0.00
May 23, 2022 10:35a
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,443.00
+53.02 +0.72%
Volume: 79,754
May 23, 2022 9:35a
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,146.86
+0.29 +0.0092%
Volume: 35.34B
May 23, 2022 3:00p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
20,470.06
-247.18 -1.19%
Volume: 1.70M
May 23, 2022 4:08p
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/zigman2/quotes/210598128/delayed
XX : China Securities Index
4,053.98
-23.62 -0.58%
Volume: 13.05B
May 23, 2022 3:00p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
27,001.52
+262.49 +0.98%
Volume: 0.00
May 23, 2022 3:15p
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