21Dec2021 Market Close: Stocks Gain 561 Points After A Three-Day Rout On Omicron Concerns, Markets To Recoups Some Losses After A Sell-Off Yesterday
Wall Street equities making the biggest moves midday: Citrix Systems, Boeing, Nike, Kellogg. WTI crude is higher at 71.37 but remains range-bound. U.S. stocks gain today, positioning ignited by renewed investor fears that swelling Omicron case numbers could derail economic recovery and worsen inflationary pressures. NASDAQ gained 2.3%, and the S&P 500 rose 1.8%.
Global stocks buoyed by renewed risk appetite; oil rebounds 3.7% higher as crude attempts to bounce back from the omicron selloff. While climbing Omicron cases have sparked fear of demand destruction, supply issues in Libya and falling U.S. oil inventories pushed prices higher.
On Tuesday, Europe’s energy crisis worsened and faces a full-blown energy crisis as gas prices smash all records. A shortage of natural gas, nuclear outages, declining wind power output, and cold weather contributed to higher prices.