Dow adds nearly 300 points, S&P 500 hits record as investors look for Santa rally; European stocks slightly higher in holiday-thinned trade 
U.S. stock indexes rose Monday as markets reopened after the Christmas holiday and investors assessed the spread of the omicron Covid-19 variant. 
The S&P 500 gained 1.2% and hit an intraday record for the first time in more than a month. The Dow Jones Industrial Average added about 275 points, or 0.8%. The Nasdaq Composite ticked up 1.3%. 
Market strategists remained positive on the overall equity outlook amid a surge in Covid cases. New studies suggest that the omicron strain has a lower risk of hospitalization than other Covid variants. 
Holiday sales rose 8.5% in 2021 from last year, the fastest pace in 17 years, according to Mastercard data. The results came despite a backdrop of supply chain disruptions, higher prices and the omicron variant in the last few weeks of shopping. Retail stocks like Ralph Lauren and Ross Stores gained. 

European markets were slightly higher in a holiday-thinned trading session on Monday with many markets still closed due to the Christmas festivities. 
Market players have been juggling concerns over coronavirus restrictions and tighter central bank policy with signs that the heavily mutated omicron strain of the virus is milder than earlier variants like delta. 
Source: CNBC, Investing.com