Travel booking stock Expedia added 6.7%, and Booking Holdings rose 5.3%. Shares of Wynn Resorts climbed 6%, while Marriott and Hilton each rose more than 4%. Royal Caribbean and Carnival Cruise Lines gained more than 8%. United Airlines jumped 8.3%, and American rose 7.8%. Leisure and hospitality stocks saw the biggest advances. Chevron climbed 1.5%, and Caterpillar added 1.7%.
General Electric and Boeing each gained more than 3%. Stocks linked to the reopening of the economy gained, boosting sentiment on the Dow. The move suggested a decreasing risk appetite among investors. Bitcoin declined sharply at the end of the prior week, plummeting by $10,000 in a 24-hour period from Friday to Saturday.There's a major shift underway at the Federal Reserve to bring about a faster end to its pandemic easing policies.The 10-year Treasury yield rebounded after falling last week amid the omicron threat.Indeed, though the Nasdaq gained Monday, it still underperformed the S&P 500 and the Dow. Those shares dragged the market down to a losing week on Wall Street last week. Investors sold tech stocks with relatively high valuations.Shares linked to the economic reopening gained in Monday trading, including energy, industrials and airlines.Here's what was influencing the markets to start the week: The Dow Jones Industrial Average jumped, while the Nasdaq Composite lagged, though it was still in positive territory. Stocks rallied to start the week Monday, with the Dow erasing its losses from the previous week, as investors shook off fears around the emerging threat of the Covid omicron variant.
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