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US stocks closed higher on Tuesday, December 21, lifted by technology, energy, and consumer discretionary segments after a plunge in the previous session amid Omicron concerns.
The S&P 500 climbed 1.78% to 4,649.23. The Dow Jones rose 1.60% to 35,494.70. The NASDAQ Composite was up 2.40% to 15,341.09, and the small-cap Russell 2000 rose 2.84% to 2,200.69.
Traders shrugged off the Omicron threat and focused on winning bets. Earlier in the day, a WHO note warned of the new strain’s ability to multiply in the population quickly.
The latest official data also showed that Omicron cases jumped 73% in the US compared to less than 1% in early December, prompting the administration to announce new measures.
The government plans to open new Covid-19 testing sites starting from New York this week. It will deploy 1000 military doctors and medical personnel to address the emergency over the next two months. It will also conduct 500 million at-home free rapid tests from January.
Energy, technology, and consumer discretionary stocks were the top gainers on the S&P 500 Index Tuesday. Utility stocks were the laggards. Ten of the 11 segments stayed in the green.
In the technology sector, chipmaker Micron Technology, Inc. (MU) stock jumped 11% after posting strong first-quarter FY2022 results and a better-than-expected second-quarter outlook.
Microsoft Corp. (MSFT) stock climbed 2.11%, Nvidia Corporation (NVDA) rose 4.12%, and Apple Inc. (AAPL) surged 1.64%. Adobe Inc. (ADBE) increased by 1.23%, and Visa Inc. (V) grew by 3.12%.
Nike, Inc. (NKE) stock surged 5.5% after posting better-than-expected second-quarter earnings.
Aridis Pharmaceuticals Inc. (ARDS) stock jumped 25% after announcing that its monoclonal antibody cocktail retained effectiveness against various covid strains, including Omicron.
Rite Aid Corporation (RAD) stock rose more than 20% after announcing quarterly results. Its revenue increased by 1.8% YoY.
In the energy sector, Exxon Mobile Corporation (XOM) stock grew 2.50%, Chevron Corporation (CVX) rose 2.07%, and ConocoPhillips (COP) increased by 3.27%. EOG Resources Inc. (EOG) and Pioneer Natural Resources Company (PXD) surged 3.54% and 3.28%, respectively.
In the utility sector, Duke Energy Corporation (DUK) stock fell 0.65%, Southern Company (SO) slipped 0.92%, and Dominion Energy (D) was down 1.18%. American Electric Power Company Inc. (AEP) and Xcel Energy Inc. (XEL) fell 0.68% and 1.12%, respectively.
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Futures & Commodities
Gold futures declined 0.34% to US$1,788.55 per ounce. Silver futures increased by 0.95% to US$22.503 per ounce, while copper climbed 1.36% to US$4.3520.
Brent oil futures increased by 3.76% to US$74.21 per barrel and WTI crude futures were up 4.17% to US$71.47.
Bond Market
The 30-year Treasury bond yields increased 1.46% to 1.875, while the 10-year bond yields were up 3.85% to 1.474.
US Dollar Futures Index declined 0.08% at US$96.470.
