Dow climbs 560 points as optimism grows that Omicron risks are manageable

Dow climbs 560 points as optimism grows that Omicron risks are manageable

US stocks finished higher Tuesday, rebounding from three straight days of losses, as it appeared the world's largest economy won't be headed toward renewed and widespread lockdowns to curb the spread of the Omicron coronavirus variant. The Dow Jones Industrial Average soared 560 points with nearly all of its components gaining ground. The index was topped by Nike after the athletic shoe maker turned in fiscal second-quarter earnings that exceeded expectations. The energy sector paced the S&P 500's advance, in step with a surge in oil prices. The Omicron variant has become the dominant strain in the US, but data suggest symptoms are milder than the Delta variant and the original COVID-19. While Omicron poses a mass health risk, President Joe Biden Tuesday afternoon said further efforts to reduce the spread should keep the US from having to impose a new round of restrictions on homes and businesses across the country. Biden said the government will send 500 million free coronavirus test kits to homes as part of its response to the ongoing pandemic. Meanwhile, UK Prime Minister Boris Johnson said the country will not reinstate tougher lockdown measures as Christmas approaches. "Stocks continue to recover from the recent Omicron-induced