The broad S&P 500 index rose 1.2% on Monday, after closing 0.8% lower on Friday.
Travel-related stocks rallied, with shares of Norwegian Cruise Line, United Airlines, Royal Caribbean Cruises and Carnival all rising more than 8%.
Dr Anthony Fauci, chief medical adviser to US President Joe Biden, on Sunday called Omicron’s first signs of seriousness “encouraging.”
He told CNN that “we’re sure there will be a certain degree and perhaps a considerable degree of protection” with recall shots. Market fluctuations for Omicron are likely while scientists wait for conclusive data.
The technology-focused Nasdaq Composite Index closed 0.9% higher on Monday. The narrower gain continued a trend over the past fortnight, during which the Nasdaq trailed the S&P 500.
The benchmark 10-year Treasury bill yield rose 0.09 percentage point to 1.43% as the price of debt fell.
Learn more about today’s market movements here.