Stock Market Today: Monday Surge Sparks Santa Claus Rally Hopes

The S&P 500 notched its 69th closing high of 2021, and the Dow and Nasdaq also finished solidly green as traders returned from the long holiday weekend.

A Santa Claus in sunglasses holding a fan of 100-dollar bills and flashing a rock sign
(Image credit: Getty Images)

For many Christmas celebrators, any expectations for Saint Nicholas's generosity are realized (or not) on Dec. 25. But investors remain on alert for a week or so longer in hopes of a "Santa Claus rally" – and so far for 2021-22, their wishes have been answered.

Despite a holiday season that has been undermined by the omicron variant, disrupting travel plans and canceling get-togethers, stocks got off to a hot start Monday. Following up on earlier data out of South Africa suggesting the omicron variant is less lethal than its predecessors, additional studies from that country, as well as Scotland and England, similarly showed that omicron cases were less likely to result in hospitalization.

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Kyle Woodley

Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.

Kyle was previously the Senior Investing Editor for, and the Managing Editor for before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism. 

You can check out his thoughts on the markets (and more) at @KyleWoodley.