Published on 29 Nov 2021 on MarketWatch
Dow rises over 230 points, Nasdaq rallies nearly 2% Monday, as stock market recovers a portion of...
U.S. stock benchmarks on Monday staged a partial recovery from Friday's omicron-related selloff to end higher, as President Joe Biden told Americans the fight against the omicron variant of coronavirus won't involve "shutdowns or lockdowns." The Dow Jones Industrial Average closed up 0.7% to 35,136, the S&P 500 index ended with a 1.3% gain to 4,655, while the Nasdaq Composite Index advanced 1.9% to 15,782; but large-capitalization stocks powered the rise of the index, with the Nasdaq-100 index climbing 2.3%. All closing levels are on a preliminary basisd. In corporate news, Twitter Inc. co-founder Jack Dorsey on Monday announced that he was stepping down as CEO of the social-media platform effective immediately and would be succeeded by the company's chief technology officer Parag Agrawal. Dorsey also is the CEO of payment processor Square Inc. Shares of Twitter ended down 2.7% while Square's shares gained 0.4%. Dorsey is seen as a big fan of digital currencies such as bitcoin In economic news, pending home sales rose 7.5% in October, compared with September, the National Association of Realtors reported Monday. Economists polled by MarketWatch had projected a 0.7% increase for pending home sales in October.