Trader Leon Montana works on the floor of the New York Stock Exchange.
AP Photo/Richard Drew
The US stock market rose slightly on Thursday as investors continued to wrestle with the Omicron variant.
Adding to market concerns is the suggestion by Fed Chair Powell that the bond purchases should be reduced at a faster pace.
There was a report on a drop in demand for Apple's phones.
Concerns about the Omicron virus and comments from the Fed Chairman weighed on investors as the US stocks traded slightly higher on Thursday.
The first case of the COVID-19 Omicron variant in the US was identified by the CDC on Wednesday. With little knowledge about how transmissible and deadly the new variant is, investors are asking questions later.
A report from Bloomberg that Apple is experiencing a decline in demand for its phones this holiday season added to the volatility. Apple's shares traded down more than 3% in the early hours of Thursday.
The US indexes stood at 9:30 a.m. The hours are open on Thursday.
The metaverse investment theme is growing in popularity, with Ark Invest's Cathie Wood calling it a multi-trillion dollar opportunity that will infiltrate every sector.
The Sandbox platform took the lead from other NFT platforms in sales of virtual land last week.
Last month, Musk sold more than $10 billion ofTesla, making him the most valuable person in the world. Jeff Bezos is selling Amazon stock, and Microsoft CEO Satya Nadella sold half of his stake in the company.
The SEC continues to favor futures-based bitcoin exchange traded funds, but Fidelity is launching a spot fund in Canada this week.
The price of West Texas Intermediate crude oil fell as much as 1.95%. The price of oil dropped as much as 1.89%.
The price of gold fell as much as 0.29%.
Business Insider has an original article.
