Geoffrey Smith 

Investing.com – The U.S. stock exchanges opened higher on Monday following Friday’s sharp selloff. This was due to Covid-19 news. 

Omicron, or as it’s now known, seems to be more transmissible than Delta, which has been responsible for most Covid-19 deaths. Officials from the World Health Organization have designated it a “variant of concern”. There is not yet any evidence that Omicron is more dangerous than Delta. Stocks were supported Monday by analysts who called Friday’s stock sell-off an exaggerated reaction. 

The index had increased 160 points (or 0.5%) to 35,075 by 9:40 am ET (1440 GMT). The index was at 1.0% while the other was at 1.4%. Low liquidity caused by the holiday made Friday’s performance worse for all three indices. 

The Twitter stock (NYSE:) rose as high as 12% in the early trading, aided by reports that Jack Dorsey might resign as CEO. However, it quickly lost most of its gains to trade up 4.4%. Some shareholders have criticized Dorsey for allowing too much time to other projects. This includes Square (NYSE:), which is where Dorsey serves as CEO. It has struggled to increase advertising revenue as fast as its social media competitors. Regulators and lawmakers have expressed concern at its failures to rein in abusive behavior from its users, which has caused significant concern.