U.S. stocks rebounded with equities around the world on optimism the omicron variant won’t derail global growth. Treasuries fell, sending two-year yields to the highest since March 2020.The S&P 500 jumped 1.8% to the highest level since the emergence of the new virus strain upended markets Nov. 26. Technology shares that bore the brunt of last week’s selloff led the rebound, with retail favorites including GameStop Corp. jumping at least 3% and the Nasdaq 100 gaining 2.4%. Chinese shares led a rally in emerging markets after the nation’s policy makers moved to expand support for the economy. Bitcoin rallied, the dollar was flat and crude surged above $71 a barrel in New York.Risk assets are recovering this week after initial data showed the surge in omicron cases hasn’t overwhelmed hospitals and as China’s moves help settle markets whipped by bouts of volatility. Technology stocks had sold off last week amid a combination of concerns about the variant and the Federal Reserve’s hawkish tilt.
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