Trader Leon Montana works on the floor of the New York Stock Exchange.
AP Photo/Richard Drew
The US stock market rose early Monday after taking a day off on Friday for Christmas.
The S&P 500 hit a new high on Thursday.
Airlines canceled thousands of flights over the holiday weekend.
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The US stock market pointed higher on Monday as the "Santa Claus rally" continued into the last trading week of the year.
The S&P 500 hit a new high on Thursday after setting a new record. Between the Christmas and New Year's holidays, thin trading volume can cause volatility.
Markets in the UK will be closed on Tuesday. China's central bank pledged more support for the economy over the weekend.
The US indexes stood at 9:30 a.m. The hours are open on Monday.
The Omicron coronaviruses variant's symptoms appear less severe than Delta's, which has made investors less concerned about the effect on the economy.
Airlines canceled thousands of flights over the holiday weekend due to staffing shortages caused by the virus. Cruise line stocks fell with the recent outbreak on ships.
The Wall Street Journal reported that activist investor Starboard Value has taken a 6.5% stake in the web-hosting company.
The Financial Times reported that Moderna is facing a shareholder proposal to explain its high prices and share its vaccine technology with poorer countries.
Didi Global dropped 2% as China banned insiders from selling stock.
West Texas Intermediate crude oil was down 1% to $73.03 per barrel. The international benchmark for oil rose by 0.25 to $76.33 per barrel.
The price of gold dipped to $1,807.70 per ounce. The yield on the 10-year Treasury was unchanged.
Business Insider has an original article.
