Wednesday, January 19, 2022

US stocks post marginal gains

The US stocks posted marginal gains on Wednesday. Technology stocks nudged the Nasdaq to a record high while a fall in healthcare shares and caution ahead of the Federal Reserve’s annual symposium kept broader markets subdued.

Focus is now on the Fed’s economic symposium at Jackson Hole later this week for views on when the central bank will start tapering its massive asset purchases program. Fed chair Jerome Powell will speak on Friday.

The Dow Jones Industrial Average added 0.1 percent while the S&P 500 and the Nasdaq Composite index, both gained 0.2 percent.

On Tuesday this week, the benchmark S&P 500 posted its 50th record high close of this year as positive news on COVID-19 vaccines raised hopes of a swift economic recovery.

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