NY Stock Market Rises Two Days in a Row... Tesla Recovers to Thousand Tesla Level

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Major indices on the New York Stock Exchange rose for two consecutive days ahead of Christmas, leaving the possibility of a Santa rally.

On the 22nd (local time), the Dow Jones Industrial Average rose 261.19 points (0.74%) to close at 35,753.89, the S&P 500 index increased by 47.33 points (1.02%) to 4,696.56, and the Nasdaq index rose 180.81 points (1.18%) to close at 15,521.89.

The rise in the indices is attributed to easing concerns over the Omicron variant of COVID-19. Researchers in South Africa reported that the hospitalization rate of patients infected with Omicron was about 80% lower than those infected with other variants, and the U.S. Food and Drug Administration (FDA) granted emergency use authorization for Pfizer's oral COVID-19 treatment.

Tesla, which had fallen from "Cheon-Tesla" to "Palbaek-Tesla," rose 7.49% to recover "Cheon-Tesla" after CEO Elon Musk announced the completion of the sale of 10% of his shares.

Apple's stock rose 1.5% on news that Citigroup raised its target price to $200. Most major tech stocks rose, but only Meta fell by 1%.

Pfizer's stock rose about 1% on the approval news of its oral treatment, while Moderna fell 6.2%.

Travel-related stocks were strong amid easing concerns over the Omicron variant. Carnival and Royal Caribbean Cruises rose more than 3%, and Expedia also rose 2%.

Cryptocurrency exchange Coinbase rose 2% after Oppenheimer recommended it as the top prospect for 2022.