S&P 500 Closes at Record; Investors Eye Santa Rally; Omicron Concern Persists

U.S. stocks traded higher Monday, following on from another record for the S&P 500 last Thursday, as investors cautiously track global Covid infections into the traditionally quiet, but often bullish, post Christmas week.

Wall Street is largely holding onto gains since the omicron variant was first identified in late last month, with the S&P 500 up around 0.5% since Nov. 24. But accelerating case rates, alongside warnings of complacency from health officials, are starting to find their way into equity market analysis. 

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