US close: Stocks end session firmly in the red as rising Covid cases weigh on sentiment

Wall Street stocks closed sharply lower on Monday as market participants monitored a resurgence in global Covid-19 cases due to the omicron variant.

At the close, the Dow Jones Industrial Average was down 1.23% at 34,932.16, while the S&P 500 was 1.14% weaker at 4,568.02 and the Nasdaq Composite saw out the session 1.24% softer at 14,980.94.

The Dow Jones closed 433.28 points lower on Monday, extending losses recorded in the previous session as a volatile week for the blue-chip index drew to a close.

With the omicron variant spreading ahead of the winter holiday season, as the strain has now been found in 43 out of 50 US states and roughly 90 countries, the number of Covid-10 cases has doubled in 1.5 to three days in areas with community transmission, according to the World Health Organization. US cases hit more than 156,000 on Friday, according to the Centers for Disease Control and Prevention.

As a result, reopening plays like Royal Caribbean, United Airlines and Southwest all traded lower, while Moderna shares traded higher after the pharmaceutical giant stated its vaccine booster dose provided recipients with significant protection against omicron.

In the earnings space, Carnival posted an adjusted net loss of $2.0bn for the fourth quarter and Nike quarterly sales topped estimates on the back of solid demand in North America.

On the macro front, the Conference Board's November leading index increased substantially in November, fuelled by positive contributions from eight of ten components. According to the CB, in the six months ended 30 November, the leading economic index increased 4.6%, somewhat slower than the growth of 4.9% over the previous six months. However, strengths among the leading indicators remained widespread.

Also in focus, Democratic senator Joe Manchin has vowed not to back the White House's "Build Back Better" plan, likely killing the $1.75trn social spending and climate policy bill where it stands.

Dow Jones - Risers

Merck & Co. Inc. (MRK) $76.41 0.95%
Home Depot Inc. (HD) $389.53 0.37%
Walmart Inc. (WMT) $139.20 0.32%
Procter & Gamble Co. (PG) $157.86 0.25%
Chevron Corp. (CVX) $113.68 0.04%
McDonald's Corp. (MCD) $261.73 0.01%
Honeywell International Inc. (HON) $230.94 0.00%
Dowdupont Inc. (DWDP) $30.52 0.00%
Walgreens Boots Alliance, Inc. (WBA) $48.83 -0.04%
Verizon Communications Inc. (VZ) $53.09 -0.15%

Dow Jones - Fallers

Travelers Company Inc. (TRV) $153.53 -2.95%
Caterpillar Inc. (CAT) $195.46 -2.93%
Nike Inc. (NKE) $156.98 -2.71%
Goldman Sachs Group Inc. (GS) $371.61 -2.67%
American Express Co. (AXP) $155.89 -2.57%
Salesforce.Com Inc. (CRM) $247.29 -2.26%
Boeing Co. (BA) $188.48 -2.15%
Intel Corp. (INTC) $49.60 -2.02%
JP Morgan Chase & Co. (JPM) $153.89 -1.80%
Walt Disney Co. (DIS) $146.47 -1.54%

S&P 500 - Risers

Nektar Therapeutics (NKTR) $14.67 7.32%
Carnival Corp. (CCL) $18.90 3.39%
Pfizer Inc. (PFE) $61.02 2.59%
American Airlines Group (AAL) $17.30 2.06%
Norwegian Cruise Line Holdings Ltd (NCLH) $20.74 2.02%
DaVita Inc (DVA) $106.89 1.96%
Expedia Group Inc. (EXPE) $162.43 1.96%
Perrigo Company plc (PRGO) $38.43 1.88%
Electronic Arts Inc. (EA) $129.92 1.88%
Lamb Weston Holdings, Inc. (LW) $59.05 1.74%

S&P 500 - Fallers

Principal Financial Group Inc (PFG) $66.92 -6.59%
Nucor Corp. (NUE) $111.13 -5.82%
Brighthouse Financial, Inc. (BHF) $47.68 -5.66%
Dish Network Corp. (DISH) $31.38 -5.64%
Ralph Lauren Corp (RL) $108.90 -5.35%
Synchrony Financial (SYF) $44.22 -5.21%
Oracle Corp. (ORCL) $91.64 -5.15%
Albemarle Corp. (ALB) $218.13 -5.11%
Foot Locker Inc. (FL) $39.96 -4.93%
Macerich Co (MAC) $15.87 -4.74%

Nasdaq 100 - Risers

American Airlines Group (AAL) $17.30 2.06%
Expedia Group Inc. (EXPE) $162.43 1.96%
Electronic Arts Inc. (EA) $129.92 1.88%
Broadcom Inc. (AVGO) $645.03 1.59%
Take-Two Interactive Software Inc. (TTWO) $178.32 1.47%
Netflix Inc. (NFLX) $593.74 1.19%
Cerner Corp. (CERN) $90.49 0.80%
Incyte Corp. (INCY) $73.45 0.77%
Activision Blizzard Inc. (ATVI) $61.81 0.73%
Seagate Technology Plc (STX) $105.13 0.59%

Nasdaq 100 - Fallers

Qurate Retail Inc. (QRTEA) $6.87 -10.43%
Dish Network Corp. (DISH) $31.38 -5.64%
Trip.com Group Limited (TCOM) $21.74 -4.92%
JD.com, Inc. (JD) $68.19 -4.01%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $365.82 -3.97%
NetEase Inc. Ads (NTES) $90.28 -3.70%
Tesla Inc (TSLA) $899.94 -3.50%
Baidu Inc. (BIDU) $137.56 -3.19%
Fiserv Inc. (FISV) $100.52 -3.02%
Hasbro Inc (HAS) $95.97 -2.91%