Travel stocks lead gains in Australia as fears ease over Omicron’s seriousness – .

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Travel stocks lead gains in Australia as fears ease over Omicron’s seriousness – .


Wall Street stocks rose on Monday, pulled higher by travel stocks as the Omicron variant of the coronavirus is believed to ease further lockdowns.

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.

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