Dow Logs Impressive Win as Tech Sector Soars

Oil logged its highest close in almost two weeks

Fernanda Horner

Digital Content Manager

Dec 7, 2021 at 4:24 PM

Stocks extended their rallies on Tuesday, as Covid-19 fears continued to subside and reopening stocks kept climbing. The Dow scored a nearly 500-point win while the S&P 500 and Nasdaq walked away with their second-straight day of gains, as investors bought back into tech and chipmakers rallied. Amid the burgeoning market optimism, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), shed 15% today.

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

Pre-earnings bear notes couldn’t shake this tech stock.
Buy the dip on this crypto-adjacent stock.
Plus, analyst matches with Bumble stock; CPB shareholders await payout; and unpacking Mimecast’s billion-dollar buyout.

The Dow Jones Average (DJI - 35,719.43) added 492.4 points, or 1.4% for the day. American Express (AXP) paced the 24 gainers with a 3.9% win. Merck (MRK) led the six laggards with a 1.5% drop.

The S&P 500 Index (SPX - 4,686.75) rose 95.1 points, or 2.1% for the day. The Nasdaq Composite (IXIC - 15,686.92) jumped 461.8, or 3% for the day.

The CBOE Volatility Index (VIX - 22.09) fell 5.1 points, or 18.7% for the day.

Closing index charts are disabled with Amazon Web Services down. We apologize for the inconvenience.

Amazon.com’s (AMZN) cloud computing unit, also known as Amazon Web Services, experienced an outage on Tuesday that brought down websites and other services. (CNBC)
The U.S. Securities and Exchange Commission (SEC) is investigating Tesla (TSLA) over a whistleblower's solar-cell claims. (MarketWatch)
Bumble stock surged after one analyst swiped right today.
Dividend payouts may be in store for Campbell Soup stock shareholders.
A billion-dollar buyout pushed Mimecast stock higher.

Oil Surges to Nearly 2-Week High on Easing Omicron Fears

Oil prices settled higher on Tuesday, for their best close in nearly two weeks. Contributing to today’s pop were easing Covid-19 omicron fears, with investors now anticipating no significant impact to global economic growth, while also hoping for a robust holiday driving season. In turn, January-dated crude rose 3.7%, or $2.56, to close at $72.05 per barrel.

Gold prices finished higher as well, notching their highest settlement in more than a week. Investors are taking interest in the precious metal ahead of 2022 as a portfolio and currency hedge. As a result, February-dated gold added $5.20, or 0.4% to close at $1,784.70 per ounce.

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