Stocks jump as omicron fears ease, Intel pops – Fox Business

U.S. stocks jumped extending the rally from the prior session as fears continue to fade over the omicron variant. 

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 35743.57 +516.54 +1.47%
SP500 S&P 500 4688.62 +96.95 +2.11%
I:COMP NASDAQ COMPOSITE INDEX 15697.801142 +472.65 +3.10%

The Dow Jones Industrial Average rose over 300 points or 1%, while the S&P 500 and Nasdaq Composite gained 1.4% and 1.9%, respectively. 

Apple helping support large-cap tech as it nears a fresh all-time high of $170 per share. 

Ticker Security Last Change Change %
AAPL APPLE, INC. 171.50 +6.18 +3.74%
Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 52.33 +1.82 +3.60%
BNO UNITED STS BRENT OIL FD LP UNIT 20.36 +0.65 +3.30%

Investors will also monitor a phone call between President Biden and Russian President Vladimir Putin in which the two are expected to discuss the global oil supply and Russia’s aggressiveness with Ukraine.  Oil rose to the $71 per barrel level. 

Ticker Security Last Change Change %
INTC INTEL CORP. 53.14 +2.15 +4.22%

In stocks, Intel jumped after announcing it will take its self-driving arm Mobileye public in a deal valuing the company around $50 billion. 

In other auto news, Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands. 

Ticker Security Last Change Change %
STLA STELLANTIS NV 18.91 +0.48 +2.60%

CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a “sustainable mobility tech company,” with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online.

AMERICAN AIRLINES CEO DOUG PARKER TO RETIRE

Ticker Security Last Change Change %
AAL AMERICAN AIRLINES GROUP, INC. 18.23 +0.30 +1.69%
DAL DELTA AIR LINES, INC. 38.46 +0.32 +0.83%
JBLU JETBLUE AIRWAYS CORP. 14.37 +0.10 +0.70%
UAL UNITED AIRLINES HOLDINGS, INC. 44.28 +0.29 +0.66%

In the C-Suite, American Airlines CEO Doug Parker announced he will retire in March of 2022 and will be replaced by President Robert Isom. U.S. carriers continued to rebound as fears over future lock downs appear less likely. 

Ticker Security Last Change Change %
DWAC DIGITAL WORLD ACQUISITION CORP. 48.56 +4.75 +10.84%
TWTR TWITTER, INC. 45.50 +1.05 +2.36%
NFLX NETFLIX, INC. 622.47 +9.78 +1.60%

Regulators are looking into Donald Trump’s new social media company, Digital World Acquisition Corp.. The company partnering with Trump Media & Technology Group acknowledged the inquiries in a filing it made with regulators on Monday. It also gave some financial forecasts for the company, which wants to rival Twitter and other platforms that banned Trump after the Jan. 6 Capitol riots, along with Netflix and other streaming video services. It said over the weekend that it’s lined up $1 billion in investments from a group of unnamed institutional investors.

Separately, Trump Media announced that Rep. Devin Nunes, a Republican from California, will leave Congress to become the company’s chief executive in January.

AutoZone rose after reporting U.S. same-store sales rose 13.6% as first-quarter revenue hit $3.7 billion an increase of over 16%. 

Ticker Security Last Change Change %
AZO AUTOZONE, INC. 1,998.69 +120.83 +6.43%

In cryptocurrencies, Bitcoin extended its recovery trading back above the $50,000 level.

Global equity markets were higher in Europe after a solid session Asia. The Shanghai Composite Index rose 0.2% to 3,595.09 after November imports surged 31.7% over a year earlier in a sign domestic demand might be strengthening.

The Nikkei 225 in Tokyo gained 1.9% to 28,455.60 and Hong Kong’s Hang Seng added 2.6% to 23,983.66.

The Associated Press contributed to this report. 

Leave a comment

Your email address will not be published. Required fields are marked *