Lola Evans
08 Dec 2021, 08:04 GMT+10
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.
Get a daily dose of Utah Independent news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Utah Independent.
More InformationZAGREB, Croatia: Authorities have said that a weekend bus crash near Varazdin in Croatia killed 12 passengers and injured 32.The ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
SYDNEY, NSW, Australia - Stocks in China were flat to lower on Tuesday as investors weighed up the disappointing economic ...
LONDON, England: Reports from the UK's opposition Labour Party said its leader, KeirStarmer, will call for a freeze on energy ...
MIAMI, Florida: Carnival cruise lines, including Carnival Cruise, Princess Cruises and Cunard, have made plans to drop mandatory COVID-19 testing ...
NEW YORK, New York - U.S. stocks continued to mend fences on Monday, with gains by all the major indices."I ...
DUBLIN, Ireland: Amazon has received permission to build two new data centers in north Dublin. The Dublin City Council approved ...
LONDON, England: Despite a recent rebound, speculators in the international copper market, considered an indicator of the world's economic health, ...