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Yesterday the market closed higher for the third straight session, advancing 0.95%. Apart from utilities, every other sector moved higher. Energy led the gains, rising more than 2%.
Tech stocks rebounded, with Zip Co (ASX:Z1P), Nearmap (ASX:NEA), and Tyro Payments (ASX:TYR) all making the top 10.
Travel stocks also rebounded as investors grow more confidence that the new COVID-19 Omicron variant wouldn’t have a devastating impact. Corporate Travel Management (ASX:CTD) and Flight Centre (ASX:FLT) made the leaderboard, posting gains of over 5%, while Qantas (ASX:QAN) and Webjet (ASX:WEB) also moved higher.
Magellan Financial Group (ASX:MFG) was the worst performer yesterday, after the news that their CEO Brett Cairns will be leaving the company after 14 years.
US equities rallied overnight, and all three major benchmarks closed in the green. The Dow Jones gained 1.4%, and the S&P500 gained 2.07%. The Nasdaq had its best day since March, gaining 3%, with tech stocks leading the market higher for a second day.
Following New York, the ASX200 is set to rise 0.3% at the open this morning, going by the SPI futures.
What to watch today: