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.
Intel (INTC US, +3.5%) is up 7.6% in extended-hours trade after announcing
plans to list its Mobileeye self-driving unit.
Crude oil prices rebounded. The front-month Brent and WTI futures closed up
$3.20 at US$73.08/bbl and $3.23 cents at US$69.49/bbl respectively.
The 10-year Treasury note yield notched up 9.12 basis points (bps) to 1.4342%.
The most actively traded US gold futures (Feb) contracts settled down $4.40, or
0.2%, at US$1,779.50/oz.
Coffee futures on the ICE futures exchange rose to 10-year highs on Mon.
The ICE dollar index (DXY), which measures the strength of the greenback
against a basket of currencies, rose 0.22% to 96.328.
European equity markets finished higher on Mon. The UK FTSE gained 1.54%,
France's CAC 40 rose 1.48%, while the German DAX advanced 1.39%.