The overnight session followed a comeback on Wall Street that saw the blue-chip Dow gain nearly 650 points.
The S&P 500 jumped 1.1% on Monday with all 11 sectors registering gains. The Nasdaq Composite reversed higher to end the day up 0.9%. The rally was led by travel-related stocks such as airlines and cruise line operators.
"Easing Omicron fears are making way for investors to position for a more hawkish Fed," said Fiona Cincotta, senior financial market analyst at City Index. "The markets are dialing back on the potential economic damage that Omicron could cause as initial reports suggest that the new COVID variant is less severe."
Investors are betting that the new Covid-19 strain may cause milder illness than feared. White House Chief Medical Advisor Dr. Anthony Fauci said Sunday that the initial data on the variantMeanwhile, investors are also weighing the likelihood that the Federal Reserve would begin to remove its massive pandemic easing policies and hike rates sooner than expected.
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.
December 2021 Stock Market OutlookNovember began with stocks on another tear, setting record high after record high, but ended abruptly with the market in retreat. By the end of November, the S&P 500 had fallen 2.9% from its latest all-time high, and closed out the month down 0.8%. Meanwhile, the Dow Jones Industrial Average (DJ
Read more »
Donald Trump's new media company now under SEC scrutiny over stock tradingTrump met with DWAC Executive Patrick Orlando before the company started raising funds for their merger, which could be in violation of SEC rules.
Read more »
Stock Rally In 2022; Double-Tax Free Rent ReliefDespite challenges posed by the omicron variant and inflation, a majority of Wall Street firms predict the stock market will continue to rally next year
Read more »
S&P 500 futures gain slightly despite recent tech stock selling, bitcoin's weekend routThe moves came after a big sell-off in bitcoin during the weekend.
Read more »
U.S. stock futures mixed as traders await key virus and inflation newsU.S. stock futures were mixed on Monday, as investors digested the latest news on the spread of the coronavirus
Read more »
Rihanna's Favorite Perfume Is Finally Back in StockGet it before it sells out again.
Read more »