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US stocks soared on Tuesday as fears of the Omicron virus faded.
Early data from Glaxo shows that the drug is still active against the variant.
Oil prices went up on Tuesday as investors realized there was little chance of Omicron disrupting the economic recovery from the Pandemic.
The US stocks surged on Tuesday, with the Nasdaq jumping over 3% and recovering all of last week's losses as fears of the COVID-19 Omicron variant begin to fade.
Early data from the drug maker shows that the treatment retains its in vitro activity against the full Omicron spike protein. Last week, Pfizer and Merck both said they expect their pill to work against all COVID-19 variants.
With Omicron now seen as having a diminishing chance of disrupting the economic recovery from a global pandemic, oil prices went up 2%.
The US indexes stood after 4:00 pm. The close is Tuesday.
Most of the fund strategies at Ark Invest are in a bear market as the broader stock market is less than 1% away from a record high. Ark's flagship Disruptive Innovation fund is down 24% year-to-date, and six of the company's eight funds are in the red.
The recovery in cryptocurrencies was mixed on Tuesday. Terra and Polkadot are surging higher, despite the fact that the metaverse token is barely above $50,000.
As she sees the potential for more downside ahead based on several technical indicators, she urged caution to investors that may want to buy the current dip.
The congresswoman explained earlier this week that she doesn't own any of the digital coins because she wants to be an impartial lawmaker.
The boom in cryptocurrencies has fueled a surge in NFT sales this year, with total volumes exceeding $12 billion and weekly sales hitting $293 million last week. The top 5 digital art collection sales were last week.
The cloud provider's shares jumped as much as 21% on Tuesday. The company's Atlas revenue increased by 84% as it migrated to its platform.
The price of West Texas Intermediate crude oil jumped as much as 3%. The price of oil's international benchmark rose as much as 2%.
The price of gold rose as much as 0.38%.
Business Insider has an original article.
