Investor Alert

Nov. 29, 2021, 4:06 p.m. EST

Dow rises over 230 points, Nasdaq rallies nearly 2% Monday, as stock market recovers a portion of Friday's omicron-led selloff

U.S. stock benchmarks on Monday staged a partial recovery from Friday's omicron-related selloff to end higher, as President Joe Biden told Americans the fight against the omicron variant of coronavirus won't involve "shutdowns or lockdowns." The Dow Jones Industrial Average (DOW:DJIA) closed up 0.7% to 35,136, the S&P 500 index (S&P:SPX) ended with a 1.3% gain to 4,655, while the Nasdaq Composite Index (NASDAQ:COMP) advanced 1.9% to 15,782; but large-capitalization stocks powered the rise of the index, with the Nasdaq-100 index (AMERICAN:NDX) climbing 2.3%. All closing levels are on a preliminary basisd. In corporate news, Twitter Inc. (NYS:TWTR) co-founder Jack Dorsey on Monday announced that he was stepping down as CEO of the social-media platform effective immediately and would be succeeded by the company's chief technology officer Parag Agrawal. Dorsey also is the CEO of payment processor Square Inc. (NYS:SQ) . Shares of Twitter ended down 2.7% while Square's shares gained 0.4%. Dorsey is seen as a big fan of digital currencies such as bitcoin (COINDESK:BTCUSD) . In economic news, pending home sales rose 7.5% in October, compared with September, the National Association of Realtors reported Monday. Economists polled by MarketWatch had projected a 0.7% increase for pending home sales in October.

Link to MarketWatch's Slice.