Tech rally lifts Wall Street from Omicron-driven slump; Dow up 129 pts

Travel, energy stocks bounce from recent lows; Nasdaq leads gains, tech demand seen strong

Gains in heavyweight technology stocks drove Wall Street indexes higher on Monday as investors rushed to take advantage of steep virus-driven losses, with Twitter up on reports that chief Jack Dorsey is expected to step down.

The S&P technology and the communication services subindexes jumped more than 1% each, indicating that investors were likely favoring pandemic-resistant technology stocks amid growing fears of the newly discovered Omicron variant.

The S&P 500 energy index jumped 3% in early trade and was the best performer among its peers, as oil prices rebounded from Friday's sell-off. A recovery in Treasury yields also pushed the banks index