Shares of industrial and transportation companies moved higher in choppy trading as investors' subsiding fears over the Omicron variant have helped propel stocks higher in recent sessions.
The U.S. trade deficit in goods surged by 17.5% in November to set an all-time high, largely reflecting faster improvement in the U.S. economy compared to most other countries.
An early or advanced look at the trade gap in goods showed that it increased to $97.8 billion in November from $83.2 billion in October, the U.S. Census Bureau said. The U.S. is on track in 2021 to post its biggest annual shortfall on record.
U.S. airlines continued to struggle with weather and Covid-19-driven staffing issues on Wednesday, with unusually strong jet-stream winds affecting transcontinental flights.
Travelers faced a potential fifth consecutive day of more than 1,000 flight cancellations as snow in the Pacific Northwest and across the Midwest clogged airports, and headwinds forced one jet to divert to refuel.
In corporate news, Swedish battery maker Northvolt said it created a lithium-ion battery cell, the first by a European company, and plans to ship it to companies to power electric vehicles next year. The market is currently dominated by Asian manufacturers, which have built or are building factories in Europe to supply batteries to car companies there, as demand for electric cars is soaring.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
12-29-21 1704ET
