Wall Street stocks rose at the open Tuesday, building on new all-time highs set the day before as markets continued to shrug off record Covid-19 case counts.
The United States reported more than one million new Covid-19 cases Monday, according to data from Johns Hopkins University, as the virus’s Omicron variant spread at a blistering pace.
However, traders have been largely inured to the case trends, viewing the newest strain as less virulent than earlier variants.
Investors are also looking ahead, believing “in six months, Omicron will be behind us,” Gregori Volokhine of Meeschaert Financial Services said. “Markets are always thinking about the future.”
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.6 percent at 36,801.75.
The broad-based S&P 500 rose 0.4 percent to 4,816.58, while the tech-rich Nasdaq Composite Index was essentially flat at 15,833.67.
Both the Dow and S&P 500 ended at records on Monday.
Investors are awaiting a reading on manufacturing industry activity to be released on Tuesday morning, followed by employment data later in the week.
Among individual companies, Ford jumped 5.5 percent after announcing plans to double production capacity of its new F-150 Lightning pickup truck to 150,000 vehicles per year.