Stocks bounce back from three-day rout on omicron concerns, Dow rallies more than 500 points; European markets close higher as investors assess omicron risk; Stoxx 600 up 1.4% 
The major averages rebounded sharply on Tuesday following three days of losses amid fears about the fast-spreading Covid omicron variant. 
The Dow Jones Industrial Average gained about 530 points, helped by gains in Nike and Boeing. The S&P 500 rose about 1.6%. The technology-focused Nasdaq Composite added 2.2%. The small-cap benchmark Russell 2000 was up about 2.7%. 
Reopening plays, like airlines, cruise lines and entertainment stocks, saw some relief buying on Tuesday. Delta Air Lines rose 6.2%, United Airlines gained 7% and Carnival Corp. added 9%. Las Vegas Sands was up more than 8%. Caesars Entertainment added 8.4%. Boeing rose 5% and Booking Holdings popped 6%. 
Micron shares surged nearly 8% after the memory-chip maker posted much better than expected earnings for the prior quarter and gave bullish guidance. NXP Semiconductors and Advanced Micro Devices gained 1.8% each. 
Nike shares jumped more than 6% after the sneaker maker reported quarterly earnings and sales that exceeded analysts’ expectations, despite ongoing supply chain pressures. Other retailers like Gap, Dick’s Sporting Goods and Macy’s also gained. 

European markets closed higher on Tuesday after the previous session’s sell-off, with concerns over the omicron Covid-19 variant still hanging over global stocks. The pan-European Stoxx 600 provisionally ended around 1.4% higher, retracing much of Monday’s loss. Travel and leisure stocks jumped 3.5% to lead gains as all sectors and major bourses ended the session in positive territory. 
In terms of individual share price movement, French transportation conglomerate Bolloré jumped 12.5% after receiving a $6.4 billion bid from Mediterranean Shipping Company (MSC) for its African logistics assets. 
At the bottom of the European blue chip index, Swiss online pharmacy Zur Rose Group fell 16% after the introduction of e-prescriptions was postponed in Germany. 
Source: CNBC, Investing.com