US stocks rose in thin post-Christmas trading on Monday, while analysts queried whether the favourable market conditions that drove Wall Street to all-time highs this year would continue into 2022.
The broad-based S&P 500 share index closed 1.4 per cent higher, extending its push into record territory after hitting a fresh all time-high on Thursday. The rally has followed weeks of volatility driven by the Omicron coronavirus variant and the US Federal Reserve moving to reduce its emergency stimulus measures.
Energy stocks led the rally, alongside a 3.2 per cent gain in the price of Brent crude, the oil benchmark, to $78.60 a barrel. Technology stocks also ratcheted higher and the tech-focused Nasdaq Composite stock gauge added 1.4 per cent.