Wall Street surges at open as firms assess Omicron variant

Monday, 29. November 2021 15:31

Major stock markets in the United States jumped at Monday's opening bell as COVID-19 vaccine makers Moderna and Johnson & Johnson started reviewing their jabs' effectiveness against the recently registered Omicron coronavirus variant.

President Joe Biden is also scheduled to address the nation on the Omicron mutation later today, followed by Federal Reserve Chair Jerome Powell, who previously received the administration's support for another term as the Fed's head.

The Dow Jones jumped by 1.07% or 373 points at the opening bell, led by tech giants Apple and Microsoft. The Nasdaq 100 surged 1.61% or 256 points, as Moderna increased by 7.78%. The S&P 500 rose by 1.28%. Twitter gained 7.69% on news its Chief Executive Jack Dorsey plans to step down. The euro declined 0.50% against the dollar to sell for 1.12680 at 9:28 am ET.

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Baha Breaking the News (BBN) / ND