Of the three main benchmarks on Wall Street, the Dow Jones was the one that rose the most. Energy and industrial stocks were among the best-performing sectors in the S&P.
The drops in the shares of vaccine companies for Covid-19 limited the increases in the health sector.
The S&P 500 gained 52.37 points, or 1.2%, to 4,590.80 units, while the Nasdaq gained 137.12 points, or 0.9%, to 15,222.59 units. The Dow Jones Industrial Average was up 642.29 points, or 1.9%, to 35,222.37.
Among the values of the day, airlines rose sharply (Delta + 6%, American Airlines + 7.9%) as did cruise lines (Royal Caribbean + 8.3%, Carnival + 8%).
While the Covid-19 Omicron variant has sparked alarm and some new restrictions around the world, Investors seemed reassured after Dr. Anthony Fauci, America’s chief infectious disease chief, said “so far it doesn’t seem to be a high degree of severity.”
“People are less worried about the variant”, said King Lip, chief investment strategist at Baker Avenue Asset Management.
Lip also mentioned the momentum of the news that China’s central bank will cut the amount of cash banks must keep in reserve, which could boost foreign companies selling products in China, as well as the country’s economy.
The major Wall Street indices have rocked strongly since November 26, as investors have absorbed the news about the omicron variant of Covid-19 and the more aggressive comments from Federal Reserve Chairman Jerome Powell.
Source From: Ambito
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