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Nov. 29, 2021, 4:53 p.m. EST

U.S. stock market ends higher in partial rebound from Friday selloff as Biden says omicron won’t lead to `shutdowns or lockdowns’

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By Vivien Lou Chen and Mark DeCambre

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See: Cyber Monday poised to be the biggest online shopping day of the year, but may still fall short of last year’s total

Crude-oil futures also rebounded from a plunge Friday, with January WTI crude settling at $69.95 a barrel, up by 2.6% Monday on the New York Mercantile Exchange following Friday’s loss of 13.1%. Investors are awaiting this week’s OPEC gatherings, with a couple of technical meetings reportedly delayed so that members can assess the variant and price action.

Meanwhile, 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.

Compared with last year, pending sales were down 1.4%, reflecting how much home-buying activity has cooled from the breakneck pace of last year.

Which companies were in focus?

  • Shares of Twitter Inc . /zigman2/quotes/203180645/composite TWTR -1.12% closed 2.7% lower after Jack Dorsey announced that he was stepping down as chief executive . He will be succeeded by Twitter chief technology officer Parag Agrawal. Dorsey also is the CEO of Square /zigman2/quotes/205989440/composite SQ -0.05% and has been deeply involved in crypto such as bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.18% and other passion projects. Shares of payments company Square finished higher by 0.4%.

  • Walmart Inc.   WMT  announced Monday that it will begin the search for a successor to Chief Financial Officer Brett Biggs, who has been with the company for 22 years and became CFO on Dec. 31, 2015. Walmart shares closed 1.6% lower.

  • Shares of Bumble Inc. /zigman2/quotes/224422770/composite BMBL -2.24% finished 3.6% higher after the dating-app operator was upgraded at Raymond James, which cited an “attractive entry point” following the post-earnings plunge.

  • Chegg Inc.’s stock  CHGG  closed higher by 2.8% after the online education company announced a $300 million accelerated share repurchase (ASR) plan .

  • Shares of Hertz Global Holdings IncHTZ finished up by 6% after the car rental company announced a new stock repurchase program of up to $2 billion .

How did other assets trade?

  • The yield on the 10-year Treasury note  TMUBMUSD10Y  rose by 4.5 basis points to 1.529%, versus 1.484% on Friday at 2 p.m. ET. The bond market was closed on Thursday in observance of Thanksgiving and ended an hour early on Black Friday.

  • The ICE U.S. Dollar Index  DXY , a measure of the currency against a basket of six major rivals, was up 0.2% at around 96.28.

  • Gold futures for February delivery fell $2.90, or 0.2%, to settle at $1,785.20 an ounce.

  • The Stoxx Europe 600  SXXP  closed 0.7% higher, and London’s FTSE 100 index  UKX  finished 0.9% higher, recovering some of Friday’s decline of more than 3.5%.

  • In Asia, the Shanghai Composite  SHCOMP  finished less than 0.1% lower, while the Hang Seng Index  HSI  lost 1% in Hong Kong. China’s CSI 300  000300  declined 0.2% and Japan’s Nikkei 225  NIK  finished 1.6% lower.

—Barbara Kollmeyer and Mike Murphy contributed to this article

$ 37.86
-0.43 -1.12%
Volume: 13.22M
May 23, 2022 4:03p
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$29.26 billion
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$ 83.40
-0.04 -0.05%
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$48.44 billion
Rev. per Employee
US : CoinDesk
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US : U.S.: Nasdaq
$ 27.54
-0.63 -2.24%
Volume: 1.77M
May 23, 2022 4:00p
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$5.30 billion
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