The US stock market went up strongly in the first session of the week on December 6, regaining what was lost last week. The Dow Jones Industrial Average increased nearly 647 points, or 1.87%, to 35,227 points. The S&P 500 index increased 1.1% to nearly 4,591 points. Meanwhile, the Nasdaq Composite index rose 0.93% lower to 15.25 points.

US and Asian stocks reversed sharply after investors hoped the Omicron variant was not as dangerous as initially feared.

The US stock market went up strongly in the first session of the week on December 6, regaining what was lost last week.

The Dow Jones Industrial Average increased nearly 647 points, or 1.87%, to 35,227 points. The S&P 500 index increased 1.1% to nearly 4,591 points. Meanwhile, the Nasdaq Composite index rose 0.93% lower to 15.25 points.

Stock groups closely related to economic reopening all increased, including energy, industrial and aviation. Meanwhile, technology stocks were profit-taking at relatively high valuations, limiting Nasdaq’s gains. Last week, technology stocks dragged the market down.

The Dow Jones Industrial Average increased sharply in the first session of the week.

Ten-year Treasury yields rebounded after falling last week due to the threat of the Omnicron mutation. The Federal Reserve (Fed) also plans to end its money injection program through bond purchases earlier than planned.

Most Asian stocks also rose in the opening session on Tuesday (December 7) after US stocks recovered and China pledged measures to boost its slowing economy.

On the precious metals market, world gold prices moved sideways at the beginning of the week, trading around 1,780 – 1,790 USD per ounce. Stanrdard Charted said that the gold market is stuck between two opposing forces, causing the trading range of this metal to fall in the range of 1,750 to 1,850 USD.

Standard Chartered precious metals analyst Suki Cooper said that gold has been caught between expectations of a moderate Fed rate hike (triggered by the Omicron news) and safe-haven demand on the one hand. are risks of stagflation, weak physical markets due to seasonal demand declines and fears of faster interest rate increases.