US markets rise, lifted by energy, industrial stocks

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US markets rise, lifted by energy, industrial stocks

 US markets rise, lifted by energy, industrial stocks
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

Benchmark US indices closed higher on Monday, December 6, lifted by energy, industrial, and financial stocks as Omicron concerns faded.

The S&P 500 surged 1.17% to 4,591.67. The Dow Jones rose 1.87% to 35,227.03. The NASDAQ Composite was up 0.93% to 15,225.15%, and the small-cap Russell 2000 climbed 2.07% to 2,204.05.

Omicron worries had raised volatility in the market last week. However, on Monday, concerns paled after chief medical adviser Anthony Fauci said Omicron's impact may be milder. He told CNN that it does not appear "a great deal of severity". The new variant was first reported in South Africa.

Meanwhile, oil prices rebounded on the receding worries of lockdown.

All eleven sectors of the S&P 500 index stayed in the green. Energy, industrial, and financial stocks were the top gainers. Healthcare, technology, and communication stocks were the bottom movers.

Lucid Group, Inc. (LCID) stock fell nearly 5% near the close after rallying over 15% intraday trading. It declined after receiving summons from the SEC concerning its merger with Churchill Capital.

Tesla, Inc. (TSLA) stock fell more than 4% after the SEC opened a probe over a whistleblower's claim that the company did not disclose defects related to fire risks in its solar panels to shareholders.

Kohl's Corporation (KSS) stock jumped more than 5% on investors suggestion to consider separating its e-commerce business. Healthcare company Moderna Inc. (MRNA) stock declined 14%, and BioNTech (BNTX) stock fell 17% after Omicron impact was declared milder.

In the energy sector, ConocoPhillips (COP) stock rose 3.04%, Chevron Corporation (CVX) grew 2.05%, and Schlumberger N.V. (SLB) increased 3.32%. Halliburton Company (HAL) and Occidental Petroleum Corporation (OXY) rose 3.48% and 3.05%, respectively.

In the industrial sector, United Parcel Services Inc. (UPS) rose 0.42%, Boeing Company (BA) surged 3.26%, and Honeywell International Incorporation Inc. (HON) grew 1.70%. Deere & Company (DE) and Caterpillar Inc. (CAT) were up 1.90% and 1.84%, respectively.

In addition, Pfizer Inc. (PFE) plunged 4.82%, and Thermo Fisher Scientific Inc. (TMO) fell 2.60%. Danaher Corporation (DHR) declined 2.21%, and West Pharmaceuticals Inc. (WST) was down 2.20%.

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Image description: All eleven sectors of the S&P 500 index stayed in the green on Monday.

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Energy, industrial, and financial stocks were the top gainers on the S&P 500 index on Monday.

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Futures & Commodities

Gold futures declined 0.19% to US$1,780.45 per ounce. Silver futures decreased by 0.29% to US$22.418 per ounce, while copper climbed 1.73% to US$4.3405.

Brent oil futures increased by 5.08% to US$73.43 per barrel and WTI crude futures were up 5.30% to US$69.77.

Bond Market

The 30-year Treasury bond yields increased 4.75% to 1.754, while the 10-year bond yields were up 6.32% to 1.426.

US Dollar Futures Index was up 0.18% at US$96.290.


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