The stock market surged on Tuesday, extending a strong rebound from last week's rough patch, as investors bet on shares linked to the economic recovery.
Travel-related stocks led the market higher.
Drew Angerer is a photographer.
The S&P 500 gained 2.1%, while the Nasdaq gained 3%.
Market volatility surged after the emergence of the new Covid omicron variant, but stocks rebounded from last week's sell-off.
The stock market continued to lead the way higher because of the economic recovery.
The nation's top Pandemic expert said on Sunday that initial data was "encouraging" and that investors were less spooked by the omicron variant.
Tech stocks staged a comeback rally on Tuesday, with shares of chipmakers like Intel and Nvidia rising around 3% and 8%, respectively.
Big Tech giants including Microsoft, Amazon, and Apple all saw their shares rise.
The stock market has registered gains for two days in a row. The S&P rose 1.2% on Monday as investors brushed off concerns about the omicron variant. While the recent gains are a reversal from last week's sell-off, investors will be watching the Federal Reserve, which is expected to speed up the tapering of its bond-buying program next week. The central bank is expected to raise interest rates as soon as May next year in order to deal with inflation, which Fed chair Powell recently said could linger well into next year.
The quote is crucial.
Vital Knowledge founder Adam Crisafulli says that the Omicron reality is not as bad as they thought. The market doesn't seem to appreciate the extent to which monetary policy is changing, but we're encouraged by the resetting of Fed expectations.
Surprising fact.
According to recent data from Bank of America, investors bought the dip last week despite the worst day of the year. The firm said that the total stock intake from clients was the highest in a year.
Despite the growing number of Omicron cases, the DOW jumped 650 points.
Intel is planning a $50 billion IPO for its Israeli self-driving car unit.
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