Tech rally lifts Wall Street from Omicron-driven rout

Tech rally lifts Wall Street from Omicron-driven rout – Reuters

S&P tech, consumer discretionary sectors lead gainsBanks sink as rate hike bets get postponedTwitter down 0.6% after CEO Dorsey steps downIndexes up: Dow 0.39%, S&P 1.10%, Nasdaq 1.50%<p data-testid="paragraph-0" class="Text__text___3eVx1j Text__dark-grey___AS2I_p Text__regular___Bh17t- Text…….

S&P tech, consumer discretionary sectors lead gains
Banks sink as rate hike bets get postponed
Twitter down 0.6% after CEO Dorsey steps down
Indexes up: Dow 0.39%, S&P 1.10%, Nasdaq 1.50%

Nov 29 (Reuters) – Bargain buying in technology stocks drove Wall Street higher on Monday following a slump related to Omicron, while the Dow Jones lagged its peers as major banks fell and investors awaited more information on the new coronavirus variant.

The S&P technology subindex (.SPLRCT) jumped 2.1%, indicating that investors were likely favoring pandemic-resistant technology stocks amid growing fears of Omicron.

Gains in Amazon.com (AMZN.O) and Tesla Inc (TSLA.O) also drove the S&P consumer discretionary sector (.SPLRCD) 1.7% higher, with investors viewing Friday’s losses as a cue for bargain hunting into high-value tech names.