Stocks, Oil Rise on Hopes of Milder Covid Variant

U.S. stock indexes rose as investors assessed early indicators that the Omicron Covid-19 variant may be causing milder illness than previously feared, while bitcoin and other cryptocurrencies edged up from weekend lows.

The S&P 500 advanced 1.2% Monday afternoon, regaining ground after closing down 0.8% Friday. The Dow Jones Industrial Average added about 670 points, or 1.9%, while Nasdaq Composite edged up 0.5%.

Source: WSJ