U.S. stocks tack on to global rally, Nasdaq jumps 456 points

Lola Evans
08 Dec 2021, 08:04 GMT+10

Technology stocks were all the rage in New York on Tuesday, pushing the broader industrial stocks higher.
Across the globe, stocks roared as markets breathed relief that nes Covid variant Omicron is not as severe as initially expected.
"A week ago we saw a big scare because of Omicron and over the following week it appeared to be very contagious but less severe than people were worried about."

NEW YORK, New York - Technology stocks were all the rage in New York on Tuesday, pushing the broader industrial stocks higher in their wake.

Across the globe, stocks roared as markets breathed relief that new Covid variant Omicron is not as severe as initially expected.

"A week ago we saw a big scare because of Omicron and over the following week it appeared to be very contagious but less severe than people were worried about," Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia told Reuters Tuesday.

The Nasdaq Composite surged 455.72 points, or 2.99%, to 15,680.87.

The Standard and Poor's 500 jumped 95.17 points, or 2.07% to close Tuesday at 4,686.84.

The Dow Jones Industrial Average gained 492.21 points or 1.42% to 35,719.24.

In Germany, the Dax rallied 2.82 percent. In Paris, the CAC 40 climbed 2.91 percent. The FTSE 100 in London advanced 1.49 percent.

On Asian markets, the biggest mover was Hong Kong's Hang Seng which rallied 634.28 points or 2.72 percent to 23,983.66.

In Japan, the Nikkei 225 advanced 528.23 points or 1.89 percent to 28,455.60.

The Australian All Ordinaries added 82.20 points or 1.09 percent to 7,611.20.

China's Shanghai Composite edged up 5.78 points or 0.16 percent to 3,595.09.

On foreign exchange markets, the dollar bloc gained ground. The Canadian dollar jumped to 1.2641 by the New York close Tuesday. The Australian dollar was in demand, rising to 0.7118. The New Zealand dollar swelled to 0.6788.

The U.S. dollar forced the euro lower to 1.1268. The British pound fell to 1.3241. The Japanese yen was slightly lower at 113.56. The Swiss franc was unchanged at 0.9248.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Las Vegas Herald.

More Information

88 ℉

Partly Cloudy in Las Vegas

International

Section

Would a new Cold War be in the best interest of the United States?

As China unleashed live-fire military exercises off the coast of Taiwan, simulating a real "reunification by force" operation in the ...

Myanmar deposed leader Aung San Suu Kyi to serve six additional years in prison

NAYPYIDAW, Myanmar - According to a legal official, a court in Myanmar has sentenced former leader Aung San Suu Kyi ...

China, Nepal to build rail, communications network across Himalayas

BEIJING, China: Following a meeting between their foreign ministers, China and Nepal have agreed to build the Trans-Himalayan Multi-Dimensional Connectivity ...

Heatwave continues in China as temperatures exceed 40C

BEIJING, China: Several regions in China experienced temperatures exceeding 40 degrees Celsius, including the major southwestern city of Chongqing.The country's ...