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US stocks rose for the third straight day amid more positive news of omicron

stock markets

The broader markets extended gains for the third straight trading day as more positive news of omicron is in the air. The Dow Jones Industrial Average rose 0.1%, S&P 500 gained 0.31, and Nasdaq was up 0.64%.

Pfizer and BioNTech said early data showed their Covid-19 vaccine neutralizes the omicron variant after three doses. The two company's shares closed lower, fell 0.5% and 2.86% respectively after the statement.

Airline and cruise stocks had another strong session as investors are less concerned about the economic impact of omicron. United Airlines rose 4.33%, Delta Airlines gained 2.62%, and the Norwegian Cruise Line jumped 7.68%. 

The Mega-cap tech giants closed mixed. Apple gained 1.88%, to $174. 20 and now the iPhone maker's market cap reached $3 trillion. Morgan Stanley raised Apple's price target to $200 a day earlier. And USB maintained the buying rate. Apple was seen as a safe haven stock when most tech shares fell sharply last week as investors believe the company has enough cash flow to keep growing its profit and revenue despite the iPhone 13 might fall short of supply due to supply chain disruption. The Facebook parent, Meta Platform's shares were up 2.35%. The company's stocks rebounded for the third trading day. Apple and Amazon had minor gains, while Microsoft fell 0.63%.

The EV makers all finished higher Tesla was up 1.79%, Lucid Group Inc rose 1.93%, Rivian gained 5.1%, and the Chinese EV maker Nio jumped 5.81%. The chipmakers, Nivida and AMD, fell 1.57% and 0.27% respectively. 

The 10-year US Treasury yield rose to 1.528%, the highest in the past week.

The WTI futures were up 0.55%, to $72.6.

The gold futures price rose slightly to $1,786.6 per ounce. The base metal price was steady above $1,770 recently.


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