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Wall Street Opens Mixed as Trade Slows Ahead of Holidays; Dow up 30 Pts -Breaking

by Mike Robinson

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© Reuters

Geoffrey Smith 

Investing.com — The U.S. stock market opened flat Wednesday, as it entered its pre-holiday drift without major news.

At 35,522 Points, the index was 0.1% higher at 9:45 am ET (1445 GMT). Both the and moved lower than 0.1% after Tuesday’s sharp gains. 

The markets rose on Tuesday as President Joe Biden chose to not announce new restrictions for life in light of Covid-19’s latest wave. He instead decided to increase testing capabilities across the United States. This move confirmed that Covid-19 is moving from a pandemic state to an endemic and won’t cause major disruption to the economy. 

Even though the annualized rate for growth was slightly higher at 2.3%, it failed to impress as the third quarter’s last revision. Inflation was slightly revised to 4.6% for quarter from 4.5%. It is an indication of price pressures which have overtaken the coronavirus, the number one market risk factor.

 

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