U.S. stocks were little changed Wednesday as the market took a pause from its two-day rally earlier in the week.
The Dow Jones Industrials let go of 74.07 points to 35,645.36
The S&P 500 index slid 0.82 points to 4,685.99.
The NASDAQ was in the green 45.64 points at 15,732.56.
Some of the comeback was validated by vaccine news Wednesday. Pfizer and BioNTech said three doses of their vaccine are effective at neutralizing the omicron variant, citing their own preliminary lab tests. They also said two doses may still protect against severe disease.
Pfizer shares, which are up 8% in the last month, fell almost 1%.
However, many investors had already anticipated the new variant would be manageable, anan expectation that helped drive the rally over the previous two sessions.
Still, travel-related stocks continued roaring higher as the news gave investors added confidence in reopening bets. Norwegian Cruise Line jumped 8% and was the biggest gainer in the S&P 500, followed by Carnival and Royal Caribbean, which were about 6% and 5% higher, respectively.
Airline and casino stocks made big moves too, including United Airlines, which added 5%, and Las Vegas Sands, which gained 4%.
Elsewhere, PagerDuty shares surged more than 11% after the maker of IT response software gave better-than-expected current-quarter revenue guidance.
Shares of Meta Platforms climbed more than 2% after the company gave its employees the option to delay their return to the office, currently scheduled for the end of January, by three to five months.
Apple shares are also higher after UBS maintained its buy rating on the stock despite recent concerns about demand for the iPhone 13.
However, those gains were offset by downward moves across the rest of the market.
Shares of Stitch Fix tumbled about 24% after issuing disappointing current-quarter revenue guidance and membership metrics.
Grill maker Weber’s shares fell 4% after it reported a narrower-than-expected loss for its latest quarter.
The amount of workers who left their jobs due to dissatisfaction or better opportunities elsewhere fell in October by 4.7%, the department said in its Job Openings and Labor Turnover Survey, also known as JOLTS, on Wednesday. The level of job openings accelerated 4.1% to just below its all-time high.
Prices for 10-year Treasurys declined, raising yields to 1.53% from Tuesday’s 1.48%. Treasury prices and yields move in opposite directions.
Oil prices gained 53 cents to $72.58 U.S. a barrel.
Gold prices fell $1.80 to $1,782.90 U.S. an ounce.