Stock futures, oil gain on Omicron optimism

The stock market looked for another day of strong upswings, as S&P 500 futures and oil prices rose in the hope that Omicron would prove less harmful to the economy than feared.

Futures for the S&P 500 rose 1.3% on Tuesday. The index jumped on Monday, picking up almost all the losses for last week. Contracts for the technology-focused Nasdaq-100 rose 1.8% on Tuesday, and futures for the Dow Jones Industrial Average rose 1%.