(CNBC) -- U.S. stocks rose on Wednesday, rallying for a second day as the market continued to rebound from a three-day losing streak spurred by fears about the Covid omicron variant.
The Dow Jones Industrial Average gained 261.19 points, or 0.7%, to 35,753.89, bringing its two-day rally to more than 800 points. The S&P 500 climbed 1% to 4,696.56, on track for a winning week. The Nasdaq Composite climbed about 1.2% to 15,521.89. Trading stayed relatively thin ahead of the holidays.
Caterpillar rose 1.9% after Bernstein upgraded the stock, saying the machinery maker will be a key beneficiary of a rebound in global growth.
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