In the weekly accumulated, the DOW JONES Ind Average rose 1.65%, the S&P 500 rose 2.27% and the Nasdaq climbed 3.18%.
On Thursday, with markets closed on Friday, the Dow Jones added 196.67 points, or 0.55%, to 35,950.56 points. The S&P 500 rose 0.62% to 4,725.79 points and closed at all-time highs. The Nasdaq Composite gained 0.85% to 15,653.37 points.
American infectious disease expert Anthony Fauci said Sunday that Covid-19 cases are likely to continue to rise as the omicron variant spreads rapidly around the world. However, in recent days, reports of the less severe symptoms of the omicron variant have played an important role, as well as the statements of some leaders who ruled out introducing more restrictions in the short term, such as US President Joe Biden, who maintained that vaccinated people could get together to celebrate Christmas.
The president of the firm Seven Reports, Tom Essaye, assured in a note that “during the last 48 hours, studies from South Africa, Denmark and England and numerous articles (Washington Post, Bloomberg, WSJ) have generated the same conclusion: that omicron produces substantially fewer severe cases, and this confirmation alleviates anxiety about Covid-19 “.
The United States reported more than 52 million cases in total, according to Johns Hopkins University. Driving the rise is the omicron variant, which became the dominant strain earlier this month.
A lot of economic data on Thursday last week showed a stable economy with an improvement in labor and spending trends, but with inflation at high levels. The Federal Reserve’s underlying personal consumption expenditure (PCE) index rose 0.6% in November from the previous month. The basic PCE rose 4.7% year-on-year in November, above the expected rate of 4.5%.