U.S. stocks rallied for the second straight session as fears continue to fade over the omicron variant.
|I:DJI||DOW JONES AVERAGES||35911.81||-201.81||-0.56%|
|I:COMP||NASDAQ COMPOSITE INDEX||14893.75271||+86.94||+0.59%|
The Dow Jones Industrial Average rose 492 points or 1.4%, while the S&P 500 and Nasdaq Composite gained 2.07% and 3.03%, respectively.
Apple helped support large-cap tech as it crossed a new all-time high.
Investors monitored a phone call between President Biden and Russian President Vladimir Putin in which Biden warned Putin not to invade Ukraine. Oil rose 3.68% to $72.05 per barrel level on pace for the biggest two-gain in 13 months.
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.
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.
|AAL||AMERICAN AIRLINES GROUP INC.||18.49||-0.85||-4.39%|
|DAL||DELTA AIR LINES INC.||40.31||-1.16||-2.80%|
|JBLU||JETBLUE AIRWAYS CORP.||14.85||-0.27||-1.79%|
|UAL||UNITED AIRLINES HOLDINGS INC.||46.74||-1.43||-2.97%|
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.
|DWAC||DIGITAL WORLD ACQUISITION CORP.||70.88||+3.27||+4.84%|
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%.
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.