Stocks rebounded on Monday following a major sell-off to end last week spurred by concerns about the Covid omicron variant.
The Dow Jones Industrial Average gained 368 points, or 1.1%. The S&P 500 added 1.2%. The tech-focused Nasdaq Composite rose about 1.5%.
Stocks that were the hardest hit on Friday were rebounding the most on Monday.
Travel related names were up across the board. Carnival Corp. and Norwegian Cruise Lines were up more than 5% apiece. Royal Caribbean popped 6.5%. Airline stocks also charged higher with United Airlines up 3%, and Delta Airline and American Airline gaining about 1% each. Online travel booker Booking Holdings rose 2%.
One stock that continued its Friday trend was Moderna. The vaccine maker’s stock was up another 10% after jumping 20% on Friday.