Dow Jones Leaps as Omicron Fears Ease Airline Stocks Take Off as Bargain Hunters Swoop In

Dow Jones Leaps as Omicron Fears Ease Airline Stocks Take Off as Bargain Hunters Swoop In

Most read:Markets Week Ahead - Dow Jones, Nasdaq 100, US Dollar, Yen, AUD/USD, RBA, USD/CAD, BoC After Friday's sell-off, U. S. stocks regained ground on Monday as fears over the COVID-19 omicron variant began to subside amid early indications that the heavily mutated strain may only cause mild disease. At the market close, the Dow Jones (DJI) surged 1. 87%, adding 646 points to end the day at 35, 227, a rally that allowed the industrial-heavy index to erase all of last week's losses. For its part, the S&P 500 gained 1. 17% to finishslightly below the 4, 600 level, while the Nasdaq 100 underperformed the main averages, climbing only 0. 85% to 15, 846, hindered by a sharp rise in U. S. yields across the Treasury curve. During the trading session, economic-recovery sensitive and reopening stocks were the clear winners, with energy, airlines and cruises leading the charge higher. Investors appeared to look past the pandemic threat after preliminary data from South Africa suggested that omicron is not causing severe illness. According to a provisional report based on two weeks' worth of data from the Steve Biko/Tshwane District Hospital Complex in Pretoria, most hospitalized individuals with the new virus