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Wall St. Broke Santa Claus Rally amid Thin Trading Volume

On Thursday’s close, Wall St. broke the Santa Claus rally and ended lower amid thin trading volume after robustness in the early session.

In the early stretch, U.S. stocks were traversing on the green due to better-than-expected unemployment benefits data.

The country’s continuing jobless claims plummeted to 1.72 million. It is lower than the analysts’ forecast of 1.87 million and previous data of 1.86 million.

Likewise, the initial unemployment benefits plunged to 198,000, below the 208,000 consensuses and prior 206,000 records.

Meanwhile, the S&P 500 index led the major indices’ losses by 0.30% to 4,778.73 points.

Biogen Inc. is the benchmark’s main driver as it tumbled 7.09% to $240.00 per share.

Then, APA Corporation followed as it dropped 3.05% to $27.06 per share.

Furthermore, the Dow Jones Industrial Average eased 0.25% to 36,398.08 points.

Its declines were due to Procter & Gamble Co., which fluctuated 0.86% to $162.77, and Microsoft Corp, losing 0.77% to $339.32.

In addition, the Nasdaq Composite Index dropped 0.16% to 15,741.56 points.

Oncology Institute Inc. brought the benchmark lower by crashing 16.07% to $9.09 per share.

Moreover, Biofrontera Inc. contributed to its losses by 13.93% to $7.54 per share.

Global Stocks Mixed

In Japan, the Nikkei 225 index ended its last trading day for 2021 on the red by losing 0.40% to 28,791.71 points.

On the other hand, Hong Kong’s Hang Seng index opened Friday’s trading session on the green, gaining 1.78% to 23,523.02 points.

Also, China’s Shanghai Composite index is currently advancing by 0.50% to 3,637.33 points.

In Europe, the stocks are going well as Stoxx 600 closed higher on Thursday by 0.15% to 488.71 points.

Besides, Germany’s DAX index and France’s CAC 40 both continued their Santa Claus rally by boosting 0.21% and 0.16%, respectively.

In contrary to this, the United Kingdom’s FTSE 100 declined 0.24% to 7,403.01 points.

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