U.S. Stocks Start Higher, Regain Footing After Slump Friday

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A trader works on the floor of the New York Stock Exchange
The market stumbled Friday after news about the spread of the new Omicron COVID variant.

Stocks are opening with broad gains on Wall Street Monday as markets regain their footing following a big stumble on Friday on worries about the spread of the new variant of the coronavirus. Signs of fear in the market also ebbed as traders regained their appetite for riskier assets. 

The S&P 500 rose 1.1%, and the tech-heavy Nasdaq clawed back 1.3%. Both fell more than 2% on Friday. Crude oil prices jumped 6.7% and bond yields climbed back. European markets were also higher, while Asian markets closed mostly lower. The yield on the 10-year Treasury note rose to 1.56%.

Additional reporting by The Associated Press.