Dow’s 1,100-point rally marks best 2 day campaign in at least a year as omicron fears recede


U.S. stock benchmarks extended a powerful two-session rally Tuesday, as Wall Street 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, +1.40% closed up 492 points, or 1.4%, bringing its two-day tally to 1,138 points, marking the best two-day gain since November of 2020. The S&P 500 index SPX, +2.07% also finished with a sharp advance of 2.1% to 4,687, to mark its best day since March 1, while the Nasdaq Composite Index COMP, +3.03% climbed over 3% to clinch its best one-day gain since March 9, FactSet data show. All sectors of the S&P 500 ended in positive territory, with rallies in energy XLE, +2.34% and information technology XLK, +3.49%, areas of the market that have seemed the most beaten down of late, helping to propel U.S. stocks higher.

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