(CNBC) -- Stocks jumped for a second day, continuing their rebound from a recent rough patch, as investors grew less fearful of the potential economic impact from the new omicron coronavirus variant.
The Dow Jones Industrial Average rose 492.40 points, or 1.4%, to 35,719.43. The S&P 500 added 2.07% to 4,686.75 and sat about 1% away from its all-time high. The tech-heavy Nasdaq Composite led the market rally, jumping 3% to 15,686.92.
Tech stocks were in relief rally mode as investors shook off Covid fears and bought the recent dip, pulling the Nasdaq higher. Okta rose 5%, while Crowdstrike and Adobe added more than 4%.
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