U.S. stock indexes jumped to start the week, fueled by investors’ bets that the Omicron Covid-19 variant may cause milder illness than previously feared, renewing confidence in consumer and travel demand.
The S&P 500 recouped nearly all its losses for all of last week on Monday, and the Dow Jones Industrial Average more than regained what it had lost. Oil prices and bond yields also rose. Markets have whipsawed in recent days because of rising concerns about the new variant, which has clouded the market with uncertainty.