US market close: Dow jumps 650 points, S&P and Nasdaq up
By Joseph Toppe
21:03, 6 December 2021
The big three US gauges kept their mid-day gains, closing Monday’s session up across the board as traders slip away from Omicron fears.
The Dow Jones Industrial Average is up 654 points, or 1.9%, while the Nasdaq Composite is 1% higher, and the S&P 500 is 1.3% better.
Halfway through the session, the Dow was 614 points higher, while the Nasdaq Composite was up 0.3% and the S&P 500 was up 1%.
All three finished last week in declines.
Winners and losers: Blue-Chip stocks power Dow’s Monday rise
Travel stocks are surging despite rising US cases of Omicron.
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Oil: Crude prices spike to highest point in week
On Monday, oil futures are at their highest point in a week.
West Texas Intermediate crude for January delivery improved $3.23, or 4.9%, to settle at $69.49 a barrel on the New York Mercantile Exchange. On Friday, the benchmark produced a weekly loss of 2.8%.
February Brent crude, the global benchmark, jumped $3.20, or 4.6%, to settle at $73.80 a barrel on ICE Futures Europe.
Gold: Precious metal stays down, silver sinks lower
Gold futures traded slightly lower on Monday.
The most active February gold contract shed $4.40, or nearly 0.3%, to settle at $1,779.50 an ounce, following a weekly decline of 0.1%.
March silver lost 22 cents, or 1%, to end at $22.263 an ounce, after putting in a weekly loss of 2.7% on Friday.
Forex: US dollar holds position against pound and Canadian collar
On Monday, one US dollar equals 0.75 of the Pound sterling, 0.89 of the Euro, and holding steady at 1.28 of the Canadian dollar.
The yield on the benchmark 10-year Treasury note ticked up to 1.433% Monday from 1.342% Friday.
Read more: US natural gas futures continued to stumble amid warmer winter
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