Stocks rebound for a second day from omicron sell-off, Dow gains 200 points; European markets muted as investors monitor omicron risk 
U.S. stocks rose on Wednesday, rallying for a second day as the market continued to rebound from a three-day losing streak spurred by fears about the omicron Covid variant. 
The Dow Jones Industrial Average gained 201 points. The S&P 500 climbed 0.7% and the Nasdaq Composite edged up 0.8% Trading is expected to be thin for the remainder of the week ahead of the holidays. 
Caterpillar rose 1.5% after Bernstein upgraded the stock, saying the machinery maker will be a key beneficiary of a rebound in global growth. 
Tesla shares jumped more than 7% after Elon Musk said in a podcast that he had reached his goal of selling 10% of his shares for tax reasons. 
The Food and Drug Administration on Wednesday granted emergency use authorization for Pfizer’s Covid pill, the first antiviral drug against the virus for at-home use. Pfizer shares gained about 2%. 

The pan-European Stoxx 600 traded up 0.7%, with technology stocks climbing 1.5% to lead gains while utilities slipped 0.1%. At the top of the Stoxx 600, shares of Delivery Hero added 7.4% after the German meal kit delivery company announced that it would scale back its German operations and sell off its Japanese unit in the first quarter of 2022. 
Source: CNBC, Investing.com