Dow Stages Impressive Comeback from Omicron Woes

Better-than-expected jobless data injected some positivity into the market

Digital Content Manager
Dec 2, 2021 at 4:28 PM
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The Dow roared back to life on Thursday, holding tightly onto its gains amid an impressive comeback from yesterday's variant-induced selloff. The blue-chip index was up more than 700 points at its sessions highs, and managed to wrap up the session with a 617-point gain. The S&P 500 and tech-heavy Nasdaq also finished with sizable wins of their own, thanks to big surges from airline, casino, and energy stocks.

Better-than-expected jobless data also injected some positivity into the markets today, though investors are still monitoring omicron developments. Specifically, a second case of the Covid-19 strain was reported in Minnesota, in a resident that had recently traveled to New York City.

Continue reading for more on today's market, including:

The Dow Jones Average (DJI - 34,639.79) added 617.8 points, or 1.8 % for the day. Boeing (BA) led the gainers, adding 7.5%, while Walmart (WMT) paced the laggards with an 1.2% fall.

The S&P 500 Index (SPX - 4,577.10) rose 64.1 points, or 1.4% for the day. Meanwhile, the Nasdaq Composite (IXIC - 15,381.32) jumped 127.3, or 0.8% for the day.

Lastly, the CBOE Volatility Index (VIX - 27.95) fell 3.2 points, or 10.2% for the day.



  1. The Biden administration is tightening travel rules to the U.S., with all international passengers now required to get a Covid-19 test within 24 hours of their departure. (CNBC)
  2. DraftKings (DKNG) received a price-target cut from Benchmark to $50 from $70, which implies roughly 59% upside from the stock's current levels. (MarketWatch)
  3. Walt Disney stock gets much-needed support from C-suite shakeup.
  4. News that the 737 MAX jet may fly again in China lifted Boeing stock.
  5. Apple stock faced some iPhone headwinds today.



Gold Prices Plummet Amid Wall Street's Recovery

Oil prices settled higher on Thursday, after the Organization of the Petroleum Exporting Countries and their allies (OPEC+) decided to keep the current deal to increase monthly output by 400,000 barrels in January. In response, January-dated crude added 1.4%, or 93 cents, to close at $66.50 per barrel. 

Meanwhile, gold prices fell to settle at their lowest level in more than seven weeks. The yellow metal lost its luster as Wall Street brushed off Covid-19 omicron variant fears. In turn, February-dated gold shed $21.60, or 1.2% to close at $1,762.70 per ounce.


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