US stocks rebounded Thursday as investor concerns about the Omicron variant subsided, even after the first US case was announced by the CDC.
The Dow Jones Industrial Average rose 617 points, or 1.8%, making it on track for the year. The S&P 500 and Nasdaq Composite rose 1.4% and 0.83%, respectively.
|Me: DJI||DOW JONES AVERAGE VALUES||34580.08||-59.71||-0.17%|
|Me: COMP||NASDAQ COMPOSITE INDEX||15085.471504||-295.85||-1.92%|
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Oil that entered a bear market also rose 1.4% to $ 66 a barrel as OPEC decided to keep the amount of oil it pumps into the world, despite the new Omicron variant casting a shadow of uncertainty over that global economic recovery from the coronavirus pandemic.
KROGER INCREASES PRICES WHEN INFLATION IS CURRENT
|USE||UNITED STATES OIL FUND LP||48.00||-0.30||-0.62%|
On the business news, the week’s second work-related report showed unemployment benefits up 220,000 for the last week from the previous week’s 199,000, which marked a 52-year low. Current entitlements, which measure the total number of unemployed receiving benefits, fell from 2 million in the previous week to 1.95 million.
USA CREATES MORE THAN HALF A MILLION JOBS – DESPITE EMPLOYEE BARRIERS
On Friday, November’s job report is expected to show that the U.S. economy created 550,000 new non-farm jobs last month, slightly more than October’s expected figure of 531,000. The unemployment rate is expected to decrease by 0.1 percentage points to 4.5%.
Nvidia shares rose despite the Federal Trade Commission saying it would block its $ 40 billion acquisition of Arm Holdings.
Kroger shares rose after the grocer raised its annual forecast, aided in part by consumers who continue to eat at home.
|KR||THE KROGER CO.||43.43||-1.22||-2.73%|
Boeing stocks surged after China released the Boeing 737 Max on Thursday to fly again with tech upgrades, more than two years after the plane hit the ground after two fatal crashes around the world.
|BA||THE BOEING CO.||198.49||-3.89||-1.92%|
China is the last major market the Boeing 737 Max waited for approval after the United States approved resumption of flights in December 2020 and European Union regulators approved in January. Brazil and Canada have also agreed.
Apple stock slipped after posting several days of price gains even on days of declining stock markets.
|F.||FORD MOTOR CO.||19.14||-0.73||-3.67%|
Ford rose after seeing sales jump 5.9% in November.
CLICK HERE TO READ MORE ABOUT FOX BUSINESS
Ken Marin of FOX Business and The Associated Press contributed to this report.