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Wall Street Jumps at Open on Omicron Optimism; Dow up 240 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com — Stock markets in the United States rose sharply on Monday amid optimism that Covid-19’s new Omicron version will not cause economic disruption as initially feared. 

Participants were also encouraged by strong data coming from the labor markets that showed that the U.S. economic system is strong enough to withstand the withdrawal Federal Reserve stimulus.

The index had increased 240 points (or 0.7%) to 34,723 by 9:40 am ET (1440 GMT). Both the indexes were up by 1.0%, and 0.2% respectively.  All indices failed to recover Tuesday’s losses. 

Private payrolls processors earlier reported that 534,000 additional jobs were added by the U.S. in November. This is down from 570,000 one month ago, but higher than forecasts. It was also the second largest monthly increase in six months. 

 

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