US stocks rallied Monday, on pace for a fourth straight daily gain and another S&P 500 record as COVID-19 infections continued to rise after the long Christmas holiday weekend.
The S&P 500 gained 1.1% to 4,775.90 by the early afternoon, while the Nasdaq Composite index rose 1.2% to 15,835 and the Dow Jones Industrial Average advanced 0.7% to 36,184.50.
Technology and energy led the way, with all sectors higher.
MasterCard’s (MA) US holiday sales data showed an increase of 8.5% for the period from Nov. 1 through Dec. 24 compared with the 2020 holiday shopping season.
Travel-related stocks were under pressure amid widespread US flight cancellations as omicron variant cases continued to rise. Staffing shortages have led to the cancellation of more than 2,000 flights since Christmas Eve,…
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