Dow rises nearly 400 points and Nasdaq Composite surges 2.2% early Tuesday as omicron fears subside


U.S. stock benchmarks gained sharply for another session as investors focused on early reports that the omicron variant of coronavirus that causes COVID-19 is less severe than originally feared. The Dow Jones Industrial Average DJIA, +1.48% was climbing 1.1%, or nearly 400 points, at 35,623, the S&P 500 index SPX, +2.07% climbed 1.4% to reach 4,657, and the Nasdaq Composite Index COMP, +3.04% rose 2.2% to 15,545. On the corporate front, Intel shares INTC, +4.53% surged 5.6%, amid a plan to list shares in its Mobileye self-driving-car unit. Meanwhile, shares of American Airlines Group Inc. AAL, +1.65% rose 2.1% Tuesday, after the air carrier said Chief Executive Doug Parker will retire, effective March 31, 2022, after about nine years in the role.

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