Investors Look Past Omicron Threat, Bid Markets up Sharply Higher

Investors Look Past Omicron Threat, Bid Markets up Sharply Higher

(MENAFN- Baystreet. ca) Investors Look Past Omicron Threat, Bid Markets up Sharply Higher Advertisment U. S. stocks rose on Wednesday, rallying for a second day as the market continued to rebound from a three-day losing streak spurred by fears about the COVID omicron variant. The Dow Jones Industrials grabbed 261. 19 points to close Wednesday at 35, 753. 89, bringing its two-day rally to more than 800 points. The S&P 500 index gained 47. 33 points, or 1% to 4, 696. 56, on track for a winning week. The NASDAQ vaulted 180. 81 points, or 1. 2%, at 15, 521. 89. Trading is expected to be thin for the remainder of the week ahead of the holidays. Caterpillar rose 1. 9% after Bernstein upgraded the stock, saying the machinery maker will be a key beneficiary of a rebound in global growth. Tesla shares hiked 7. 4% after Elon Musk said in a podcast that he had reached his goal of selling 10% of his shares for tax reasons. The Food and Drug Administration on Wednesday granted emergency use authorization for Pfizer's COVID pill, the first antiviral drug against the virus for at-home use. Pfizer shares gained about 1%. December, normally