The Dow Jones Industrial Average rose 646.95 points, or 1.87%, to 35,227.03, the S&P 500 gained 53.24 points, or 1.17%, to 4,591.67 and the Nasdaq Composite added 139.68 points, or 0.93%, to 15,225.15.
NEW YORK: The dollar edged higher while U.S. and European shares rallied on Monday after easing concerns about the Omicron coronavirus variant led investors to buy stocks that will likely perform well in a rising interest rate environment.
Yields on U.S. government debt surged, with the benchmark U.S. 10-year Treasury yield climbing back above 1.4% after sliding last week to its lowest level since late September.
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