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Stocks rebounded on Monday following a major sell-off to end last week spurred by concerns about the Covid omicron variant.
The Dow Jones Industrial Average gained 150 points, or roughly 0.5%. The S&P 500 added 1%. The tech-focused Nasdaq Composite rose about 1.3%, helped by a 6% jump in Twitter’s stock. The small-cap benchmark Russell 2000, full of the most economically sensitive stocks, rallied 1%.
Morderna (MRNA) shares surged 10.2% as the drugmaker insisted it could develop a new vaccine capable of combating the new Omicron variant early in the new year.
Pfizer (PFE), meanwhile, may hit a fresh record high after CEO Albert Bourla confirmed the group's plan to boost production if its Covid antiviral pill in order to combat the impact of the Omicron variant.
WTI futures for January delivery were marked 3.59 higher at $71.75 per barrel while Brent contracts for the same month, the global pricing benchmark, surged $3.47 to $76.19 per barrel.
Spot gold rose 0.2% to $1,794.87 per ounce.
