Geoffrey Smith 

Investing.com — U.S. stock exchanges opened on Tuesday at new record heights, expanding a rally which has been ongoing since the beginning of 2020 and continuing into 2022. This is as investors consider more than a temporary spike in Covid-19 case numbers.

At 36,810, the index was at 9:40 ET (1440 GMT) and had risen 225 points or 0.6% by that time. It was 0.4% higher than the previous day, but it took a rest and fell by 0.1%.

After Monday’s rally, both Tesla (NASDAQ) and Apple(NASDAQ:), ran out of steam. Tesla stock gained 0.5% while Apple stock remained flat.

Although a rise in Covid-19 reported cases, it appeared that cyclical and “value” stocks were back in fashion. This is despite the fact that the Covid-19 case numbers are rising which could cause further havoc for the service industry. On Monday the United States reported more than 1,000,000 new infections, a record that surpasses any other country’s one-day record. The new Omicron strain is still dominant in some countries, like South Africa. However, this wave of infection has not overwhelmed the healthcare system. Many market players are willing to wager that Omicron will bring an end to the pandemic. This would result in faster recovery of herd immunity and minimal economic loss.