The S&P 500 index rose 1.5% as of 1:10 p.m. Eastern. The Nasdaq rose 1.7%. Both indexes were boosted by solid gains for technology stocks. Micron Technology jumped 10% after the chipmaker gave investors an encouraging profit forecast.
Bank stocks got help from rising bond yields. The yield on the 10-year Treasury rose to 1.48% from 1.42% late Monday. Citigroup gained 2.5%.Small-company stocks rose more than the rest of the market, a signal that investors were feeling a bit more optimistic about the economy. The Russell 2000 rose 2.5%.
The latest coronavirus wave adds to lingering worries about rising inflation's impact on economic growth. Supply chain shortages and higher raw material costs have been hitting businesses, which have passed the higher costs off to consumers. U.S. consumer prices rose 6.8% in November from a year earlier, which marks the fastest rise in inflation in nearly four decades.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks firm after Wall Street rout, but Omicron risks loomAsian shares advanced on Tuesday, shrugging off a bruising Wall Street session, as Chinese markets cheered Beijing's move to help troubled property firms, although surging cases of the Omicron coronavirus variant remain a worry for investors.
Source: Reuters - 🏆 2. / 97 Read more »
Wall Street joins global slump for stocks on Omicron jittersStocks on Wall Street added to their recent string of losses Monday, joining a worldwide slump by financial markets amid worries about how badly the Omicron variant, inflation and other forces will hit the economy.
Source: latimes - 🏆 11. / 82 Read more »
Stocks bounce back from three-day rout on omicron concerns, Dow rallies more than 500 pointsThe major averages rebounded sharply on Tuesday following three days of losses amid fears about the fast-spreading Covid omicron variant. How Back I m 5 Year Invest Stock Market &Mutual Fund &FD My No Benefits No Something Dollar & Money No In My Bank Account Global Economy & New York Stock Exchange & Mumbai Stock Exchange & Stock Market Broker Company and Stock Broker & Bank & Bank Stuff Biggest Guilty & Teft
Source: CNBC - 🏆 12. / 72 Read more »
Analysis: Stay, swap or shed: Investors brace for delisting of U.S.-listed China stocksAs a long-running Sino-U.S. diplomatic spat threatens to force Chinese companies off American stock exchanges, global equity investors are assessing ways to retain or add exposure to the world's second-biggest economy.
Source: Reuters - 🏆 2. / 97 Read more »
Jim Cramer says buy FAANG stocks and Microsoft as Covid omicron fears hit markets'As they get hit by the omicron weakness, you've got my blessing to buy all six,' the 'Mad Money' host said. MadMoneyOnCNBC jimcramer Lol, amazing how these stories come out after they’ve loaded their bags….😂😂😂 MadMoneyOnCNBC jimcramer you r the man, my man🤣🤣🤣🤣 howcome they pay you for such idiot advices ?
Source: CNBC - 🏆 12. / 72 Read more »