Monday saw world stock markets calm again as investors waited for more information on the level of danger of the Omicron coronavirus variant threat to the economy that has made stocks and oil prices bounce back.
The Dow Jones Industrial Average was up 236.6 points or 0.68% at 35,135.94, the S&P 500 added 60.61 points or 1.32% at 4,655.23 and the Nasdaq Composite was up 291.18 points or 1.88% at 15,782.83.
The pan-European STOXX 600 jumped 0.7% to record its best day of the month and partially recovered a 3.7% decline on Friday triggered by concerns about the Omicron variant.
MSCI's worldwide share benchmark was up 0.67%.
News of the variant sparked panic on Friday resulting in a drop of about $ 2 trillion in world stock values after several countries imposed new sanctions over concerns the new variant might reject vaccinations and further slow the opening of the world economy.
However, investors began to be less worried after reports said the effects of the new variant were ‘unusual but mild’ and the existing Covid-19 vaccine may be effective in preventing serious illness.
The MSCI Asia-Pacific index outside Japan was down 0.4% but found support ahead of a 2021 low with Japan's Nikkei down 1.6% after the country of the rising sun acted to block the entry of foreigners to curb Omicron.
Subsequently, oil prices rebounded and reached safe -haven bonds as the market relied on the hopes of the new variant proving to have a mild effect.
Oil prices rose after plunging 10% on Friday with U.S. crude futures up 2.6% at $ 69.95 a barrel and Brent oil futures adding 1% at $ 73.44 a barrel.
Meanwhile, the 10 -year benchmark note slipped 9/23 in price to yield 1.5141% from 1.485% recorded on Friday.
European sovereign bond yields rising with the latest inflation figures highlighting the upcoming challenges for European central banks.
The dollar index rose 0.07% with the Euro down 0.32% at $ 1.1281.
US gold futures were down 0.2% at $ 1,782.30.
