The Dow led Wall Street shares higher on Monday, as economy-linked banks and energy stocks charged back and fear about the Omicron variant eased, even as investors braced for another roller-coaster ride like last week's.
"If today's strength in the blue-chips can sort of sustain itself, that might give the rest of the market the ability to start to feel confident," said Robert Pavlik, senior portfolio manager at Dakota Wealth Management.
Wall Street's major indexes swung wildly last week as investors digested news of the COVID-19 Omicron variant and Federal Reserve Chair Jerome Powell's hawkish comments about a speedier taper to tackle surging inflation.A trader works on the floor of the New York Stock Exchange in New York City, U.S., December 2, 2021.
Goldman Sachs on Saturday cut its outlook for U.S. economic growth to 3.8% for 2022, citing risks and uncertainty around the emergence of Omicron. Investors also braced for a potential hit to corporate earnings, particularly among retailers, restaurants and travel companies.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street opens higher on banks, energy boostWall Street's main indexes opened higher on Monday after declining sharply last week on Omicron and taper fears, with investors favoring banks, energy and economy-linked stocks against technology and growth-heavy shares.
Read more »
Hong Kong warns Wall Street Journal of legal action over election editorialHong Kong has warned the Wall Street Journal that it may have broken electoral law by 'scaremongering' in a recent editorial about the upcoming vote for the city's legislative council.
Read more »
Dow jumps nearly 650 points, erasing last week’s losses as investors shake off omicron worriesStocks rallied to start to the week Monday, with the Dow erasing its losses from the previous weeks, as investors shook off fears around the emerging threat of omicron. The Dow surged 1.87%. The S&P 500 was up 1.18%. The Nasdaq rose 0.93%.
Read more »
Stock futures rise slightly after a rebound in markets as investors reassess omicron riskThe overnight session followed a comeback on Wall Street that saw the blue-chip Dow gain nearly 650 points.
Read more »
Wall Street opens higher on banks, energy boostWall Street's main indexes opened higher on Monday after declining sharply last week on Omicron and taper fears, with investors favoring banks, energy and economy-linked stocks against technology and growth-heavy shares.
Read more »
Here’s Why Rivian Can Successfully ‘Challenge’ Tesla, According To These Major FirmsWall Street still loves Rivian as a potential competitor to Tesla, despite the stock’s massive run up since going public last month.
Read more »