Shares on Wall Street rallied on Mon. Investor confidence rebounded on reports
indicating that the omicron variant of Covid-19 isn’t overwhelming hospitals. The
Dow erased its losses from the previous week.
The Dow Jones Industrial Average gained 646.95 pts, or 1.87%, to close at
35,227.03. The broader S&P 500 index rose 1.17%. The tech-heavy Nasdaq
Composite climbed out of negative territory and ended 0.93% higher. The small
cap Russell 2000 rose 2.05%.
Norwegian Cruise Line (NCLH US, +9.51%), United Airlines (UAL US, +8.32%)
and Royal Caribbean Cruises (RCL US, +8.22%) shares soared on Mon.
Meanwhile, Moderna (MRNA US, -13.49%) shares fell amid a lack of clarity
around omicron.
Tesla (TSLA US, -0.59%) edged lower after Reuters reported that the EV
carmaker is under investigation by the SEC over whistle-blower claims on solar
panel defects.
The US-listed shares of Alibaba (BABA US, +10.4%) rose on Mon, after the
company announced that it was replacing its long-standing CFO and reshuffling
the leaders of its commerce businesses.