Stocks continued to rise on Wednesday, as investors shook off lingering Omicron variant fears on news that Pfizer-BioNTech's vaccine protects against the strain after a third dose. The tech-heavy Nasdaq continued to outperform, rising over 100 points, with the Dow Jones Industrial Average and S&P 500 increased by 0.10% and 0.31%, respectively.
Here's how the market settled on Wednesday:
S&P 500 Index (NYSE: SPY): +0.31% or +14.46 points to 4,701.21
Dow Jones Industrial Average (NYSE: DIA): +0.10% or +35.32 points to 35,754.75
Nasdaq Composite Index (NASDAQ: QQQ): +0.64% or +100.07 points to 15,786.99
Roku, Google reach YouTube streaming deal:
Roku (NASDAQ: ROKU) shares soared on Wednesday after the company said it had reached a multiyear agreement with Google (NASDAQ: GOOGL) to keep YouTube and YouTube TV on its streaming platform.
The deal allows the 56.4 million active Roku accounts to continue to watch YouTube and YouTube TV without disruption. Competitors like Amazon (NASDAQ: AMZN) Fire TV and Apple (NASDAQ: APPL) TV also carry YouTube.
"We're happy to share that we've reached a deal with Roku to continue distributing the YouTube and YouTube TV apps on Roku devices," said Mariana De Felice, a Youtube spokesperson. "This means that Roku customers will continue to have access to YouTube and that the YouTube TV app will once again be available in the Roku store for both new and existing members. We are pleased to have a partnership that been fits our mutual users."
Third dose of Pfizer/BioNTech vaccine protects against Omicron:
Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) announced Wednesday that three doses of the pair's COVID vaccine provide a high level of protection against the Omicron variant.
A booster dose of the mRNA vaccine increases antibody protection 25-fold compared with the initial two-dose vaccine regimen, according to a preliminary lab study. The companies said a third shot of the vaccine brings antibody protection that is comparable with the 95% protection provided by two doses against the original strain.
"Although to doses of the vaccine may still offer protection against sever disease cause by the Omicron stroina, it's clear from these preliminary data that protection is improved with a third sose of our vaccine " Pfizer CEO Albert Bourla said in a joint statement with BioNTech.
"Ensuring as many people as possible are fully vaccinated with the first two dose series and a booster remaining the best course of action to prevent the spread of COVId-19," Bourla added.
Job openings increased in October, quits rate slows:
Job openings in the United States rose by a greater-than-expected margin in October, continuing the current uneven job market recovery as high demand is met with labor shortages.
U.S. openings totaled 11.033 million in October, according to the Labor Department's report published Wednesday, above consensus economist expectations for 10.469 million and September's upwardly revised total of 10.602 million.
Meanwhile, the quits rate came down slightly in October to reach 2.8% compared to September's all-time high of 3.0%.
Here's how market benchmarks started trading after opening bell:
S&P 500 Index: +0.09% or +4.11 points to 4,690.86
Dow Jones Industrial Average: -0.00% or -2.58 points to 35,716.85
Nasdaq Composite Index: +0.24% or +3.73 points to 15,690.65