Broad rally lifts U.S. stocks after run of volatile trading

12/3/2021 11:15:00 AM

Broad rally lifts U.S. stocks after run of volatile trading

Broad rally lifts U.S. stocks after run of volatile trading

A broad rally on Wall Street pushed stocks higher Thursday, giving the Standard & Poor's 500 index its best day in seven weeks as the market recouped some of its losses after several days of volatile trading.

Copied! Print A broad rally on Wall Street pushed stocks higher Thursday, giving the Standard & Poor’s 500 index its best day in seven weeks as the market recouped some of its losses after several days of volatile trading.After advancing as much as 1.(.when the characters were transported to a dimension where they were filming The OA : Netflix "The last season finished with OA, Steve, and Hap jumping into a dimension where they were filming The OA and the actors were playing the characters they act.

The benchmark index rose 1.4%, its biggest gain since mid-October.The U.The Dow Jones industrial average rose 1.8%, respectively.8%, its best showing since early March.Centers for Disease Control confirmed the first case of the Omicron variant detected in the country and that the person had returned from South Africa on Nov.The tech-heavy Nasdaq composite rose 0.

8%, held back in part by a modest drop in Apple.Register now for FREE unlimited access to reuters.N) announced the vaccine it developed with BioNTech was more than 90% effective in preventing COVID-19 infection.Smaller-company stocks, which have lost the most ground this week, outpaced the broader market, sending the Russell 2000 index 2.7% higher.On Wednesday, Powell said policymakers needed to be ready to respond to the possibility that inflation may not recede in the second half of next year as expected.The market rebound comes as investors try to gauge the amount of damage the Omicron variant of the coronavirus might inflict on the economy, as well as measures that the U.read more Market participants now train their gaze on the Labor Department's hotly anticipated November employment report, expected on Friday.S." However, investors were also reacting to positive economic data that came out on Wednesday morning "reminding investors that the economic and corporate backdrop for this market is really strong.

and other governments are taking to restrain it.Trading has been choppy all week, and despite the latest gains, every major index is on track for a weekly loss.U." The Dow Jones Industrial Average.Advertisement Uber agrees to pay $9-million California settlement on sexual assault reporting failure The ride-hailing company failed to comply with regulators’ demands for information about sexual assault claims by customers and drivers over nearly two years.The heavy selling in recent days may have presented too tempting an opportunity for traders, said Jay Hatfield, chief executive of Infrastructure Capital Advisors.manufacturing activity picked up in November amid strong demand for goods.“It’s bargain-hunting after an overreaction,” Hatfield said.

“Clearly the Fed and the variant are overhanging on the market, but the fundamentals are very strong and the Fed is still injecting liquidity into the market.” The S&P 500 rose 64.06 points to 4,577.10.The index has been on a roller-coaster ride throughout the week.

It was up as much as 1.9% on Wednesday before skidding and closing 1.2% lower.The Dow advanced 617.75 points to 34,639.

79.The Nasdaq jumped 127.27 points to 15,381.32.The Russell 2000 picked up 58.

91 points, ending at 2,206.33.The latest coronavirus variant has led some countries to impose barriers to travel and stricter restrictions on business and people.Concerns about global restrictions potentially crimping economic growth butted up against concerns about rising inflation this week.The persistence of rising inflation has prompted the Federal Reserve to consider withdrawing stimulus measures sooner than expected.

Wall Street probably will remain jumpy until investors have more information on how contagious the new variant is and how well current vaccines will hold up against it.More than 90% of companies in the S&P 500 index rose Thursday.Banks and other financial companies accounted for a big slice of the gains.Bank of America rose 2.9% and American Express rose 4.

5%.Technology companies also rose, but the gains were crimped by a 0.6% drop from Apple after the iPhone maker reportedly warned suppliers that it is seeing weak demand ahead of the holiday season.Bond yields rose.The yield on the 10-year Treasury rose to 1.

44% from 1.43% late Wednesday.U.S.crude oil prices rose 1.

4%.The Organization of the Petroleum Exporting Countries and allied oil-producing nations decided Thursday to stick to their plans to boost output via steady, modest monthly increases in oil releases, even as the Omicron variant adds more uncertainty over the global economic recovery from the pandemic.Energy companies gained ground.Chevron rose 2.7%.

Travel-related companies, which got hammered earlier this week as worries about the new coronavirus variant swept markets, rebounded Thursday.American Airlines climbed 7%, while Delta Air Lines rose 9.3%.Cruise line operators Carnival and Norwegian Cruise Line jumped 9.2% and 7.

7%, respectively.Several companies made outsized gains on a mix of corporate news.Supermarket chain Kroger jumped 11% for the biggest gain in the S&P 500 after raising its profit forecast for the year.Software maker Synopsys gained 4.5% after also giving investors an encouraging profit forecast.

rose 7.5% after China’s aviation regulator cleared the airplane maker’s 737 Max to return to flying with technical upgrades.Southeast Asia’s largest ride-hailing company,.

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Wall Street advances but investors on edge with Omicron, inflation worriesThe S&P rose on Wednesday after the previous session's tumble but pared much of its gains by late afternoon as investors were still jittery about the latest coronavirus variant, surging inflation and U.S. Federal Reserve policy.

Wall Street ends higher in robust rebound from Omicron-driven routA broad rally sent Wall Street to a sharply higher close on Thursday, recovering ground lost over recent sessions as market participants snapped up bargains while digesting the implications of a shifting pandemic.

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