U.S. stocks were mixed Tuesday as the major stock indexes looked to build on record highs in the final week of the year. The Dow rose 0.27%. The S&P 500 was down 0.10%. The Nasdaq lost 0.56%.
Covid drug makers closed lower amid the omicron developments. Pfizer fell 2% and Moderna retreated 2.2%.
Chip stocks that rallied in the previous session fell Tuesday. Nvidia dipped 2% and Applied Materials pulled back about 1.9%. On the upside, travel-related stocks hit hard in Monday's session rebounded Tuesday. Aircraft maker Boeing was one of the Dow's leaders with a 1.5% gain. American Airlines was among the S&P 500's top gainers, rising 2%., with the S&P 500 closing at its 69th record high of the year.
"If the market isn't beaten down by this new Covid variant, I think it tells you there's nothing stopping the market from keeping on advancing the rest of the year," Margaret Patel, Allspring Global Investments senior portfolio manager, told CNBC's "Stocks historically rise in light trading during the final days of the year, often called the "For the year, the S&P 500 is up more than 27% and the Nasdaq is up about 22%.
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