Stocks jump as omicron fears ease, Intel pops

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Former Council of Economic Advisers acting chairman Tyler Goodspeed discusses latest inflation fears on ‘Mornings with Maria’

U.S. stocks jumped extending the rally from the prior session as fears continue to fade over the omicron variant. 

TickerSecurityLastChangeChange %
I:DJIDOW JONES AVERAGES35655.78+428.75+1.22%
SP500S&P 5004672.48+80.81+1.76%
I:COMPNASDAQ COMPOSITE INDEX15599.076918+373.92+2.46%

The Dow Jones Industrial Average rose over 300 points or 1%, while the S&P 500 and Nasdaq Composite gained 1.4% and 1.9%, respectively. 

Apple helping support large-cap tech as it nears a fresh all-time high of $170 per share. 

TickerSecurityLastChangeChange %
AAPLAPPLE, INC.170.02+4.70+2.84%
TickerSecurityLastChangeChange %
USOUNITED STATES OIL FUND L.P.51.69+1.20+2.38%
BNOUNITED STS BRENT OIL FD LP UNIT20.14+0.43+2.18%

Investors will also monitor a phone call between President Biden and Russian President Vladimir Putin in which the two are expected to discuss the global oil supply and Russia's aggressiveness with Ukraine.  Oil rose to the $71 per barrel level. 

TickerSecurityLastChangeChange %
INTCINTEL CORP.53.76+2.77+5.43%

In stocks, Intel jumped after announcing it will take its self-driving arm Mobileye public in a deal valuing the company around $50 billion. 

In other auto news, Stellantis announced a strategy Tuesday to embed AI-enabled software in 34 million vehicles across its 14 brands. 

TickerSecurityLastChangeChange %
STLASTELLANTIS NV18.93+0.51+2.74%

CEO Carlos Tavares heralded the move as part of a strategy that would transform the car company into a "sustainable mobility tech company," with business growth coming from features and services tied to the internet. That includes using voice commands to activate navigation, make payments and order products online.

AMERICAN AIRLINES CEO DOUG PARKER TO RETIRE

TickerSecurityLastChangeChange %
AALAMERICAN AIRLINES GROUP, INC.18.39+0.47+2.59%
DALDELTA AIR LINES, INC.38.77+0.63+1.65%
JBLUJETBLUE AIRWAYS CORP.14.52+0.25+1.75%
UALUNITED AIRLINES HOLDINGS, INC.44.67+0.68+1.55%

In the C-Suite, American Airlines CEO Doug Parker announced he will retire in March of 2022 and will be replaced by President Robert Isom. U.S. carriers continued to rebound as fears over future lock downs appear less likely. 

TickerSecurityLastChangeChange %
DWACDIGITAL WORLD ACQUISITION CORP.46.15+2.34+5.34%
TWTRTWITTER, INC.46.03+1.58+3.55%
NFLXNETFLIX, INC.616.98+4.29+0.70%

Regulators are looking into Donald Trump's new social media company, Digital World Acquisition Corp.. The company partnering with Trump Media & Technology Group acknowledged the inquiries in a filing it made with regulators on Monday. It also gave some financial forecasts for the company, which wants to rival Twitter and other platforms that banned Trump after the Jan. 6 Capitol riots, along with Netflix and other streaming video services. It said over the weekend that it's lined up $1 billion in investments from a group of unnamed institutional investors.

Separately, Trump Media announced that Rep. Devin Nunes, a Republican from California, will leave Congress to become the company’s chief executive in January.

AutoZone rose after reporting U.S. same-store sales rose 13.6% as first-quarter revenue hit $3.7 billion an increase of over 16%. 

TickerSecurityLastChangeChange %
AZOAUTOZONE, INC.1,917.86+39.99+2.13%

In cryptocurrencies, Bitcoin extended its recovery trading back above the $50,000 level.

Global equity markets were higher in Europe after a solid session Asia. The Shanghai Composite Index rose 0.2% to 3,595.09 after November imports surged 31.7% over a year earlier in a sign domestic demand might be strengthening.

The Nikkei 225 in Tokyo gained 1.9% to 28,455.60 and Hong Kong's Hang Seng added 2.6% to 23,983.66.

The Associated Press contributed to this report. 

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