- Stocks rose and bonds fell as global markets regained their composure, with investors rethinking their worst-case scenarios for the Omicron coronavirus strain.
- The S&P 500 recovered from Friday's rout and erased its November losses in a broad-based rally. The Nasdaq 100 rose more than 2%, led by gains in technology behemoths such as Apple. and Microsoft.
- The 10-year Treasury yields rose above 1.5%.
- Biden warned Americans not to panic over the new strain, saying that vaccines, booster shots, and masking are the best ways to keep people safe. According to the company's top executive, Pfizer will know how well its COVID-19 vaccine holds up against Omicron in two to three weeks, and even in the worst-case scenario, the existing formula will retain some efficacy against the heavily mutated strain.
- A forward-looking index of home purchases in the United States rose to a 10-month high in October, indicating steady housing demand. The pending home sales index of the National Association of Realtors increased 7.5% from the previous month. A major newswire survey of economists found that the median forecast was for a 1% increase.