Stocks of Boeing Company closed higher on Monday after health experts noted that the Omicron coronavirus could cause milder symptoms than previous strains.
Accordingly, the aerospace firm soared 3.72% or 7.39 points to $205.88 per share.
Boeing also climbed 0.25% or 7.39 points to $205.88 per share in the after-hours trading.
At the same time, other travel-related stocks surged on the latest news over the Omicron variant.
Remarkably, United Airlines Holdings rocketed 8.32% or 3.38 points to $43.99 per share, outperforming its rival carriers.
Likewise, American Airlines Group boosted 7.88% or 1.31 points to $17.93 per share.
Subsequently, Delta Air Lines, Inc. strengthened 5.97% or 2.15 points to $38.14 per share.
Correspondingly, Southwest Airlines Co. enhanced 2.89% or 2.89% points to $45.56 per share.
Similarly, Norwegian Cruise Line jumped 9.51% or 1.74 points to $20.03 per share. Then, Royal Caribbean Cruises escalated 8.24% or 5.50 points to $72.25.
Following the gain of Boeing, the online travel agency Expedia also widened 6.74% or 10.49 points to $166.07 per share.
The emergence of the omicron variant, which Botswana and South Africa first reported last month, hardly hit the travel sector.
Eventually, countries worldwide quickly detected cases of the latest strain, sparking renewed travel restrictions and outright bans.
These tightened protocols came shortly after rules for international trips were alleviated.
Meanwhile, a report from the South African Medical Research Council cited that the variant could pose a milder infection.
Moreover, Dr Anthony Fauci, the White House’s chief medical advisor, suggested that the Omicron is not as severe as past iterations.
These positive remarks led to the hike of Boeing altogether with other travel stocks, reversing their sell-off last week.
US Futures Gain as Boeing, Travel Stocks Surge
Furthermore, US index futures also advanced as the Omicron fears eased. The Dow futures improved 0.43% or 154.00 points to $35,367.00 per share.
Consequently, the contracts in the S&P climbed 0.42% to 19.25 points to $4,609.25 per share.
Also, the Nasdaq futures gained 0.40% to 63.50 points to $15,904.75 per share.
On Wall Street, Boeing placed at the top of the benchmark Dow Jones Industrial Average. Then, financial services company Visa, Inc followed the firm with a rise of 3.24%
Accordingly, the DJIA index increased 1.87% or 646.95 points to $35,227.03 per share.
Airlines stocks also led the gains in the S&P 500. The index enriched 1.17% or 53.24 points to 4,591.67 per share.
Correspondingly, the Nasdaq Composite index enhanced 0.93% or 139.68 points to $15,225.15 per share.
