Tag: live

The S&P 500 closed at an all-time high on Monday — again.

For the second consecutive trading session, the index soared past its previous record as markets charged higher heading into the final week of 2021. All three major U.S. indexes gained in a promising sign for stock market bulls that a Santa Claus Rally is well underway.

At close, the S&P was up 1.38{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 4,791.19, while the Dow saw a 350-point jump to 36,302.38. The Nasdaq Composite also gained 1.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, closing at 15,871.26.

The S&P’s move marked its 69th record close of the year after the index hit an intraday high in morning trading, up even as COVID-19 cases rise.

The year-end Santa Claus Rally — one in which stocks climb higher in the final five trading sessions of a year, plus the first two trading days of the new year — is building momentum. For reasons unclear, over the past 92 years, the S&P 500 gained 77{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} of the time during the year-end rally period, according to data from Sundial Capital Research. The average gain in this seven-day trading period tallied 2.66{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

The market will head into 2022 with several key considerations to weigh but with its biggest focus on the course of the pandemic and rising inflationary pressures as well as on measures the Federal Reserve could take in response.

“Inflation and Omicron are the two most important catalysts for the stock market right now,” APAC CEO at Qraft Technologies Francis Oh told Yahoo Finance. “I think that those catalysts are priced in through the market volatility… still I think the market will cautiously move off.”

Merck (MRK) received authorization last week from the U.S. Food and Drug Administration for its at-home COVID-19 drug, just one day after Pfizer (PFE) was also approved for use of its own treatment.

The pill developed by Merck in conjunction with Ridgeback Biotherapeutics, called molnupiravir, was shown to reduce hospitalizations and deaths by around 30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in clinical trial data. Pfizer’s pill was reported to be 90{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} effective at preventing hospitalizations and deaths in high-risk patients.

“One of the ways pandemics end is significant mutation of the virus. It looks like Omicron may be our friend in that regard, significant mutations different enough from the parent that it doesn’t make people as sick,” True Health Initiative President Dr. David Katz told Yahoo Finance Live.

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Investors processed a trove of economic releases ahead of the holiday weekend.

The Labor Department reported that initial jobless claims totaled 205,000, sustaining a downward trend from the highs of their pandemic peak and reflecting labor market tightness brought on by a demand for workers heading into the new year. The latest print brings the four-week moving average for new claims to its lowest in 52 years, ticking up by 2,750 week-over-week to reach 206,250.

Meanwhile, U.S. consumer prices accelerated at the fastest pace in nearly four decades as shoppers confront rising inflation levels ahead of the holidays.

“Workers have a lot of power, and that’s likely to result in continued wage gains,” Girard chief investment officer Timothy Chubb told Yahoo Finance. “What worries us from an inflation standpoint is, at what point do we potentially see some of those inflation risks sort of hand the baton to the labor market?”

Meanwhile, November sales of new U.S. homes jumped 12.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to a seven-month high of 744,000, buoyed by low mortgage rates and higher demand in the housing industry.

U.S. durable goods orders rose by 2.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in November, up from the prior month, boosted by a sharp rise in aircraft orders.

“We’ve been saying that this is definitely a buy the dip sort of market because we expect more earnings upgrades to come,” Anik Sen, PineBridge Investments global head of equities told Yahoo Finance Live. “We think that the real debate should be about the length and strength of the economic cycle ahead.”

4:15 p.m. ET: Apple tip-toes around $3 trillion valuation

Shares of Apple Inc. (AAPL) closed 2.3{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} higher at $180.33 a piece, bringing the stock to a new record close.

The gains added more than $66 billion to the company’s market capitalization, bringing it up to $2.96 trillion, according to Bloomberg data.

Apple’s climb comes on a positive day for the broader tech sector and strong day for markets overall.

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4:00 p.m. ET: S&P sees another record closing high

Here’s how markets closed out the trading session ET:

• S&P 500 (^GSPC): +65.55 (+1.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,791.34

• Dow (^DJI): +352.21 (+0.98{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 36,302.77

• Nasdaq (^IXIC): +217.89 (+1.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,871.26

• Crude (CL=F): +$1.90 (+2.57{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $75.69 a barrel

• Gold (GC=F): +$0.90 (+0.05{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,812.60 per ounce

• 10-year Treasury (^TNX): -1.2 bps to yield 1.4810{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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2:28 p.m. ET: Fauci says U.S. should implement vaccine mandate for domestic travel

The nation’s top infectious disease expert Dr. Anthony Fauci said the United States should “seriously” consider requiring COVID-19 vaccines for domestic flights during an appearance Monday morning on MSNBC’s “Morning Joe.”

“When you make vaccination a requirement, that’s another incentive to get more people vaccinated,” he said. “If you want to do that with domestic flights, I think that’s something that seriously should be considered.”

The statement comes as the recent Omicron-driven wave spurs flight cancellations across the country, driven mostly by staff shortages caused by the virus. More than 1,000 U.S. flights were canceled Monday as of 1 p.m. ET, according to Bloomberg.

Airline stocks remained in the red during midday trading, with American Airlines (AAL) down 0.58{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $18.16 per share, United Airlines (UAL) falling 0.89{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $44.47 a piece, and Delta Air Lines (DAL) ticking 0.98{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} down to trade at $38.92 per stock.

“If the stocks are down, now is the time to buy,” DLB Financial Services CEO Debbie Boyd told Yahoo Finance Live as she discussed airline companies. “Think of those stocks being down as on sale.”

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12:17 p.m. ET: Markets edge higher during intraday trading

Here’s how stocks were trading in the midday session ET:

• S&P 500 (^GSPC): +48.18 (+1.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,773.97

• Dow (^DJI): +230.93 (+0.64{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 36,181.49

• Nasdaq (^IXIC): +174.28 (+1.11{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,827.65

• Crude (CL=F): +$1.99 (+2.70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $75.78 a barrel

• Gold (GC=F): -$1.20 (-0.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,810.50 per ounce

• 10-year Treasury (^TNX): -1.2 bps to yield 1.4810{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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11:41 a.m. ET: Tesla climbs towards biggest four-day gain since March

Shares of Tesla jumped 3.52{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $1,104.55 a piece, leading most of its peers in the electric vehicle space and approaching the company’s best four-day streak of gains since March. 

Among other stocks in the sector, Lucid Group (LCID) gained 1.30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in intraday trading to $38.13 per share, Nikola (NKLA) was flat, trading at about $11.09 a piece, and Canoo (GOEV) was down 2.64{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $8.28 per share. Rivian (RVN) was up 5.73{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $102.39 per share. 

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9:53 a.m. ET: Airline stocks descend following weekend of cancellations

U.S. travel stocks slumped in early trading after major airlines reported hundreds of cancellations and delays amid staffing shortages caused by an uptick of COVID-19 cases among crews and personnel.

More than 2,800 flights were disrupted over the Christmas weekend, caused by the latest coronavirus wave and inclement weather from a winter storm in the northwestern part of the country.

American Airlines (AAL) dropped -2.70{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $17.77 per share at market open. United Airlines (UAL) and Delta Air Lines (DAL) each tumbled 2{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $44.01 and $38.47 per share, respectively.

Cruise ship operators also took a hit, with Carnival Corp. (CCL) sinking 3.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $20.45 per share, Royal Caribbean Cruises (RCL) down 3.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $77.07 per share and Norwegian Cruise Line Holdings (NCLH) trading down 4.14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $21.78 per share.

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9:30 a.m. ET: Markets open higher heading into final trading week of 2021

Here were the main moves at the start of the trading session ET:

• S&P 500 (^GSPC): +11.51 (+0.24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,737.30

• Dow (^DJI): +61.77 (+0.17{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 36,012.33

• Nasdaq (^IXIC): +131.47 (+0.85{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,653.37

• Crude (CL=F): -$0.25 (-0.34{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $73.54 a barrel

• Gold (GC=F): -$1.50 (-0.08{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,810.20 per ounce

• 10-year Treasury (^TNX): -1.2 bps to yield 1.4810{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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7:10 a.m. Monday ET: Futures inch higher after Christmas weekend

• S&P 500 futures (ES=F): +8.00 (+0.17{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,723.75

• Dow futures (YM=F): +13.00 points (+0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,845.00

• Nasdaq futures (NQ=F): +39.50 points (+0.24{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 16,338.50

• Crude (CL=F): -$1.07 (-1.45{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $72.72 a barrel

• Gold (GC=F): -$4.80 (-0.26{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,806.90 per ounce

• 10-year Treasury (^TNX): -0.09 bps to yield -0.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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Correction: The year-end Santa Claus Rally is when stocks climb higher in the final five trading sessions of a year, plus the first two trading days of the new year. The number of days was misstated in an earlier version of this article.

Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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U.S. stock futures have been muted headed into right away trading on Wednesday immediately after the S&P 500 and Dow each individual extended a rally to close at all-time highs amid a thinly-traded previous week of 2021 on Wall Road.

Contracts on the Dow, S&P, and Nasdaq were typically unchanged. 

Intraday current market swings ended up exaggerated by the lower buying and selling volumes. Economic and earnings calendars remain light for the last two investing days of the 12 months, while investors will change their notice on Thursday to new facts out of Washington on weekly jobless statements.

First-time unemployment filings are predicted to tick up somewhat from final week’s studying but keep on being in close proximity to pre-pandemic lows, signaling continued restoration in the labor sector as large need for workers pours into the new 12 months.

Biogen Inc. (BIIB) was in the spotlight on Wednesday immediately after shares of the drugmaker surged through intraday trading subsequent stories that South Korea’s Samsung Team is in talks to receive the firm. A report from the Korea Economic Everyday that cited investment decision banking sources claimed Biogen approached Samsung to get its shares in a deal that could be valued at extra than $42 billion.

Biogen’s inventory closed up 9.46{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $258.31 per share.

In spite of a superior day for markets, airline stocks continued to falter amid even more flight disruptions induced by increasing COVID-19 cases and wintertime climate. Delta Air Lines (DAL) claimed cancellations of an added 250 flights on Wednesday following thousands of halted and delayed flights by major airways described during the Xmas weekend.

Delta finished trading -1.19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} down to $39.16 and American Airways (AAL) shut down 2.64{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to $18.05 for each share. United Airways (UAL) saw the session conclude 1.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} decreased at $44.3,

“It’s a managed meltdown, place it that way,” Boyd Team Worldwide president Mike Boyd advised Yahoo Finance. Airways “know in which they are going to be short rather much ahead of time, and then they have to regulate for it.”

Marketplaces continue on to body weight climbing COVID-19 situation, which hit a world document earlier this 7 days. Bacterial infections from the remarkably-transmissible Omicron variant — discovered to spread 70 instances more rapidly than earlier strains — comprised a great deal of the recently tracked beneficial tests, nevertheless scientific tests indicate health issues prompted by the strain is a lot less very likely to be critical or lead to hospitalizations.

Story carries on

December was a volatile thirty day period for traders who weighed the strain’s effect on the economic climate, but recent developments that show Omicron may trigger milder ailment assisted marketplaces shake off before concerns.

“Perversely, poor news close to Omicron could possibly be good information for the markets due to the fact it gives the Fed the impetus to proceed with these quite free financial guidelines,” Opimas LLC Chief Executive Officer Octavio Marenzi advised Yahoo Finance Are living. “Too much good news for the authentic economy could possibly essentially be very bad for the marketplaces.”

6:01 p.m. ET: Contracts on the S&P, Dow, and Nasdaq open up sideways

• S&P 500 futures (ES=F): +.50 factors (+.01{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,785.00

• Dow futures (YM=F): +3.00 (+.01{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 36,384.00

• Nasdaq futures (NQ=F): -.25 points (.00{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 16,490.25

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Alexandra Semenova is a reporter for Yahoo Finance. Observe her on Twitter @alexandraandnyc

Browse the newest financial and enterprise information from Yahoo Finance

Abide by Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard, and LinkedIn

U.S. inventory futures were muted on Tuesday just after the S&P 500 took a breather in earlier buying and selling, closing out a choppy session working day in the purple just after the index ceased a four-working day climb toward its 70th all-time high.

Contracts on the Dow, S&P and Nasdaq ticked up a little bit but ended up mainly flat.

Markets shut on a combined notice pursuing seesaw motion from all a few significant indexes as traders weighed mounting coronavirus conditions across the world. Right after reaching an intraday high, the S&P 500 reversed training course midday to tick down, while the Dow prolonged a five-working day profitable streak. The Nasdaq faltered, dragged down by ongoing promoting in tech shares.

Key Avenue Asset Management CIO Erin Gibbs told Yahoo Finance Dwell that pullbacks brought about by the Omicron variant resemble these that transpired when the Delta strain 1st took class and are probable to see the similar gradual but upward restoration.

We really encourage our customers to stay in the marketplaces, not to get out, because when people recoveries strike and when the sentiment adjustments, it takes place so swiftly that usually by the time you get back into the sector, you’ve by now missed out.

Global COVID-19 situations hit a day-to-day record this week, with a lot more than 1.44 million around the globe infections claimed as of Monday, in accordance to Bloomberg. Infections from the highly-transmissible Omicron variant — identified to spread 70 moments more quickly than past strains — comprised significantly of the newly tracked conditions, even though research show health issues brought on by the strain is significantly less probable to be critical or direct to hospitalizations.

The CDC also eased its guidance for quarantining right after publicity to the virus, halving its advice to isolate upon a optimistic test from 10 to 5 days.

December was a risky thirty day period for investors who weighed the strain’s effects on the financial system, but latest developments that point out Omicron might induce milder condition aided markets shake off earlier fears.

“Perversely, lousy news all around Omicron may possibly be very good news for the marketplaces because it gives the Fed the impetus to keep on with these extremely free monetary guidelines,” Opimas LLC Chief Executive Officer Octavio Marenzi instructed Yahoo Finance Reside. “Too a great deal very good news for the genuine financial state could essentially be rather terrible for the markets.”

Story proceeds

On Tuesday, U.S. home cost advancement slowed for the third straight thirty day period but ongoing to climb over-all. The Regular & Poor’s S&P CoreLogic Case-Shiller nationwide residence rate index. posted a 19.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} once-a-year achieve in October, down from 19.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} from September. The 20-Metropolis Composite posted a 18.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} yearly gain, down from 19.1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} a thirty day period previously.

House selling prices keep on to respect at double-digit charges — two-to a few-occasions more rapidly than a year in the past — throughout all metropolitan regions, CoreLogic Deputy Main Economist Selma Hepp said in a assertion prior to the success.

“Unfortunately, the charge of home price tag advancement will be limiting for a lot of young prospective buyers who have yet to accumulate sufficient equity gains, and an anticipated maximize in property finance loan fees subsequent 12 months will existing additional troubles,” she reported. “Alongside one another, these two aspects will preserve a lid on ongoing property selling price acceleration.”

The rest of the week is envisioned to continue being silent amid the normally-low year-end buying and selling volumes and a gentle calendar of economic information and earnings releases, though investors will tune in on Thursday for a clean examine on first jobless statements as they go on to evaluate the progress of financial recovery.

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6:00 p.m. ET: Stock futures open flat

Here’s how marketplaces were being transferring in advance of right away investing:

• S&P 500 futures (ES=F): +3.75 details (+.08{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,782.25

• Dow futures (YM=F): +8.00 factors (+.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 36,290.00

• Nasdaq futures (NQ=F): +30.75 details (+.19{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 16,518.75

• Crude (CL=F): +$.09 (+.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $76.07 a barrel

• Gold (GC=F): -$4.00 (-.22{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,806.90 for each ounce

• 10-year Treasury (^TNX): -1.6 bps to yield 1.484{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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Alexandra Semenova is a reporter for Yahoo Finance. Comply with her on Twitter @alexandraandnyc

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Markets rallied on Tuesday, closing higher in a major comeback from the biggest three-day drop since September 30.

In a turnaround from earlier losses, all three major indexes closed up more than 1{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} each, with the Dow gaining 560 points, or 1.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. The S&P also rose 1.78{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in an 81-point jump, while the Nasdaq Composite gained 360 points, or 2.4{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

The moves follow news of federal involvement to mitigate Omicron and imminent authorization of an at-home COVID-19 treatment after renewed fears around the variant spooked traders in previous sessions, igniting concerns that rising case numbers could derail economic growth and worsen inflationary pressures.

President Biden also announced in remarks Tuesday afternoon that he was considering a reversal of travel restrictions related to the Omicron variant of COVID-19. The U.S. implemented a ban on travel from South Africa along with seven other neighboring countries upon discovery of the strain.

The FDA is expected to authorize at-home treatment pills for the virus from Pfizer (PFE) and Merck (MRK). Shares of Pfizer closed down 3.39{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at $58.95 a piece, while Merck traded at $75.43 per share, down 1.14{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

TCW Group Senior Portfolio Manager Diane Jaffee told Yahoo Finance Live earlier that despite immediate sell-offs that typically happen upon new variants or rising cases, the markets always resume their climb once investors get comfortable with vaccination rates, news of treatments and how cases are resolved.

“There is that fear happening in investors’ minds — rightly so,” Jaffee said. “But there is that underlying strength to the U.S. economy that cannot be denied.”

“On the virus side, ultimately what we’ve seen with prior surges and prior variants is that market sell-offs tend to be somewhat contained to a period of time, so we do expect that as we get better and better at dealing with some of these challenges from the economic and market perspective, things will likely settle down despite some of the public health challenges we have ahead,” Meera Pandit, a global market strategist at JPMorgan Asset Management told Yahoo Finance Live.

Story continues

As Americans scramble to look for COVID-19 tests amid the recent surge, Rite Aid (RAD) has outlined plans to close underperforming locations in a bid to further improve its profits. The pharmacy said Tuesday that it will shutter up to 63 stores in coming months, with expectations to pad earnings before interest, taxes, depreciation and amortization by $25 million.

Shares of Rite Aid closed up 21{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} at $15.05 a piece.

Even with a holiday-shortened week of trading, investors are tuning into a packed economic release schedule, and new inflation data will be a central focus among investors in the coming days.

The Conference Board is set to release its latest consumer confidence index on Wednesday, expected to show an only modest uptick for the month of December.

The Bureau of Economic Analysis will also publish fresh prints on Personal Consumption Expenditures (PCE) Thursday, a key measure of price changes in the economy. Consensus data compiled by Bloomberg showed PCE is projected to climb at a 0.6{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} month-over-month rate in November.

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4:01 p.m. ET: Stocks jump to end 3-day losing streak

Here were the main moves in markets as of 4:01 p.m. ET:

• S&P 500 (^GSPC): +81.22 (+1.78{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,649.24

• Dow (^DJI): +560.97 (+1.61{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,493.13

• Nasdaq (^IXIC): +360.14 (+2.40{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,341.09

• Crude (CL=F): +$2.83 (+4.12{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $71.44 a barrel

• Gold (GC=F): -$6.00 (-0.33{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,788.60 per ounce

• 10-year Treasury (^TNX): +6.8 bps to yield 1.4870{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

3:15 p.m. ET: Biden weighs easing of travel restrictions

President Joe Biden in remarks Tuesday afternoon said he was considering a reversal of travel restrictions related to the Omicron variant of COVID-19. The U.S. implemented a ban on travel from South Africa along with seven other neighboring countries upon discovery of the strain.

“Look, remember why I said we put the travel ban on—to see how much time we had before it hit here so we could begin to decide what we needed by looking at what was happening in other countries. And we’re passed that now,” the president said.

Markets each continued to extend gains ahead of close. The Nasdaq was up 323.88 points, or 2.16{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, and the Dow continued its climb, rising 1.62{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} to 567.13 during intraday trading. The S&P 500 was up 1.7{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}.

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12:35 p.m. ET: Stocks U-turn from three-day drop in intraday rally

Here’s how stocks were trading during the midday session as of 12:35 p.m. ET:

• S&P 500 (^GSPC): +62.64 (+1.37{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,630.66

• Dow (^DJI): +531.68 (+1.52{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,463.84

• Nasdaq (^IXIC): +235.50 (+1.57{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,216.44

• Crude (CL=F): +$2.57 (+3.75{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $71.18 a barrel

• Gold (GC=F): -$7.30 (-0.41{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,787.30 per ounce

• 10-year Treasury (^TNX): +6.5 bps to yield 1.4840{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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10:39 a.m. ET: AT&T greenlights Microsoft acquisition of ad unit

AT&T (T) has agreed to sell its Xandr global advertising platform to Microsoft (MSFT). The telecom giant said in an announcement of the deal Tuesday that Xandr’s technology “strategically complements Microsoft’s current advertising offerings.” Further details about the acquisition were not immediately disclosed.

The move comes amid investor concerns that AT&T was struggling to pay off its debt after the firm poured billions into becoming a one-stop-shop media company, satellite TV provider and advertising platform. Xandr was created under former AT&T CEO Randall Stephenson following the $1.6 billion purchase of advertising company AppNexus in 2018.

Shares of AT&T were up 2.07{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} in early trading to $24.69 a piece, while Microsoft traded at $320.05 per share, up 0.04{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}. 

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9:53 a.m. ET: Memory chip maker rallies after earnings beat

Shares of Micron Technology (MU) climbed after the maker of memory chips surpassed analyst estimates for second-quarter sales. The company is anticipating chip shortages will ease in the second half of 2022 and businesses are positioned to rebound.

The stock ticked up as much as 9.5{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}, posting its biggest intraday percentage gain since April 2020, according to Bloomberg. Shares traded at $88.80 a piece in the early session, up 8.25{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a} after market open.

Micron is “a compellingly growth at a reasonable price (GARP) beneficiary of secular data center, 5G, metaverse, auto trends and a catch-up candidate after underperforming” BMO Capital Markets wrote.

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9:30 a.m. ET: Markets rebound from three-day sell-off

Here were the main moves in markets as of 9:30 a.m. ET:

• S&P 500 (^GSPC): +39.48 (+0.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 4,607.50

• Dow (^DJI): +299.00 (+0.86{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 35,231.16

• Nasdaq (^IXIC): +153.45 (+1.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,134.40

• Crude (CL=F): +$1.77 (+2.58{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $70.38 a barrel

• Gold (GC=F): +$0.40 (+0.02{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to $1,795.00 per ounce

• 10-year Treasury (^TNX): +5.1 bps to yield 1.4700{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}

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7:00 a.m. Tuesday ET: Higher futures point to ‘seesaw market’ action

Here were the main moves in markets ahead of Tuesday’s open:

• S&P 500 futures (ES=F): 45 points (+0.99{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,603.50

• Dow futures (YM=F): 319 points (+0.92{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 35,132.00

• Nasdaq futures (NQ=F): 176.5 points (+1.13{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,798.00

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6:00 p.m. Monday ET: Futures contracts sink

Here were the main moves ahead of the overnight trading session:

• S&P 500 futures (ES=F): 13.75 points (+0.30{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 4,572.25

• Dow futures (YM=F): 102 points (+0.29{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}), to 34,915.00

• Nasdaq futures (NQ=F): 69.75 points (+0.45{1b90e59fe8a6c14b55fbbae1d9373c165823754d058ebf80beecafc6dee5063a}) to 15,691.00

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Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnyc

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