Wall Street Steady Ahead of Holiday Amid Global Market Moves

Global markets remained steady with U.S. indices holding near record levels. European and Asian markets reflected mixed performances, while investors gauged the Federal Reserve's interest rate stance amid high inflation. Dynavax Technologies saw a notable surge due to its acquisition by Sanofi. Holiday schedules influenced trading activities worldwide.

Wall Street stood largely unchanged on Wednesday as markets hovered near record levels in light of an anticipated holiday-shortened trading session. Futures for S&P 500, Nasdaq, and Dow Jones remained flat as trading activities slowed down.

Notably, Dynavax Technologies experienced a 38% increase after Sanofi announced its acquisition of the vaccine maker for USD 2.2 billion, boosting its portfolio with hepatitis B vaccines and a shingles vaccine in development. European and Asian markets showed mixed results with slight ups and downs across major indices.

Meanwhile, the U.S. Labour Department prepared to release new data affecting market expectations of Federal Reserve interest rate decisions, set against a backdrop of high inflation and consumer uncertainty. Commodities like gold and oil saw price increases due to geopolitical and supply concerns.

(With inputs from agencies.)