Shares of retailers and other consumer companies rose amid optimism about the reopening of European tourist destinations to the U.S.
European Commission President Ursula von der Leyen told the New York Times that the European Union should be able to admit American tourists with proof of vaccination this summer. Shares of transatlantic carriers American Airlines and United Airlines rose.
"A powerful economic restart is underway in the U.S. - with Europe and emerging markets (EMs) set to follow," said strategists at money manager Blackrock's Investment Institute, in a note to clients.
Consumption in the U.S. is set to continue its recent rebound, according to these strategists. "U.S. activity looks set to restart strongly this year, powered by pent-up demand across income cohorts and sky-high excess savings."
Supermarket chain Albertsons shares fell after it warned that it expects to face difficult comparisons in its new fiscal year, as many people look to reemerge from the Covid-19 pandemic, ending a habit of stockpiling groceries.
Consumer-products company Honest Co., founded by actress Jessica Alba, is set to go public with a market capitalization that could top $1.5 billion.
Shares of popular "meme" stock GameStop rallied amid renewed optimism about its turnaround plan.
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(END) Dow Jones Newswires