Midday Market Update: Why Are Stocks Up Today?

The stock market is performing well in our midday update and we’re diving into why stocks are up today.

Wall Street building in the morning sun representing Midday Market Update.

Source: ventdusud / Shutterstock.com

Surprisingly enough, it looks like we have the Covid-19 Omicron variant to thank for stocks heading higher on Tuesday. Investor concerns about the news coronavirus variant are mild, which matches the effects it has on those infected.

Recent data suggests that while Omicron is more transmissible than other Covid-19 variants, it’s lacking in the power department. That results in those infected with it likely not experiencing much in the way of symptoms.

In fact, a recent outbreak in Norway following a Christmas party resulted in none of the infected suffering serious symptoms or requiring a hospital visit. While data on Omicron is still early, it looks like things are looking up, reports Forbes.

So what does this have to do with the market? Lots, actually. The economy has been suffering from the effects of the coronavirus pandemic for nearly two years now. With signs that the newest variant likely isn’t much to worry about, there’s hope that life can return to normal.

That would mean no more travel restrictions, lockdowns, or anything else that Covid-19 has done to hamper the economy. Of course, that also means a potential rebound for many businesses that have suffered during the pandemic. We’re talking about airlines, cruise lines, hotels, restaurants, retailers, and more.

Here’s hoping that early data is right and investors can finally stop worrying about Covid-19!

Of course, we’ve got other stock market coverage outside of our midday market update that traders will want to keep up with below!

InvestorPlace offers deep dives into the stock market daily and Tuesday is no different. We’ve got the most recent news concerning Digital Turbine (NASDAQ:APPS), Jumia Technologies (NYSE:JMIA), and Siyata Mobile (NASDAQ:SYTA) shares today. You can see what’s happening with them at the following links!

More Tuesday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


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