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Investing.com — U.S. stock indexes edged higher on the shortened day before Christmas amid hopes of an economic rebound and a Brexit deal.
Alibaba (NYSE:BABA) dropped 11% after China initiated an antitrust investigation into the e-commerce giant.
The S&P 500 and the Dow ended higher on Wednesday as investors pivoted to cyclical stocks that stand to benefit most during a recovery, encouraged by Covid-19 vaccine rollouts and the long-awaited passing of the coronavirus relief bill. The tech-heavy Nasdaq closed lower.
Britain and the EU appear to be finally reaching a Brexit trade deal, years later and just ahead of the deadline, although fish remain a sticking point.
Meanwhile, President Donald Trump on Wednesday vetoed a bipartisan defense policy bill and raised the prospect that the U.S. could face a government shutdown during a pandemic.
Markets will close at 1:00 PM ET on Thursday and will be closed for Christmas holiday on Friday.
Reuters contributed to this report.
