Dow34639.79+617.75(1.82%)Nasdaq15381.34+127.27(0.83%)SP 5004577.10+64.06(1.42%)10-yr Note -3/321.435NYSEAdv 2434 Dec 836 Vol 1.1 blnNasdaqAdv 2800 Dec 1585 Vol 5.3 bln Industry Watch Strong: Energy, Financials, Industrials, Real Estate, MaterialsWeak: Health Care Moving the Market -- Market snaps two-day skid in cyclically-led rebound -- Omicron concerns tempered, investors go bargain hunting -- Apple (AAPL) tells suppliers it's seeing less demand for the iPhone 13, according to Bloomberg-- S&P 500 successfully reclaims 50-day moving average (4543) Stocks end higher in cyclically-led bounceDow +617.75 at 34639.79, Nasdaq +127.27 at 15381.34, S&P +64.06 at 4577.10 [BRIEFING.COM] The S&P 500 rose 1.4% on Thursday, bouncing back from two days of sharp losses. The Dow Jones Industrial Average (+1.8%) and Russell 2000 (+2.7%) outperformed the benchmark index, while the Nasdaq Composite underperformed on a relative basis with a 0.8% gain. Supportive factors included 1) a bargain-hunting mindset amid an increasing number of stocks trading near 52-week lows, 2) a view that the Omicron variant might not be as bad as feared after the second reported case in the U.S. produced mild symptoms in a vaccinated person like the first case, and 3) a recognition that the S&P 500 reclaimed its 50-day moving average (4543). All 11 S&P 500 sectors closed higher, featuring leadership positions from the cyclical industrials (+2.9%), energy (+2.9%), financials (+2.8%), and materials (+2.0%) sectors. The information technology (+0.8%), consumer staples (+0.8%), and health care (+0.4%) sectors trailed with more modest gains. The relative underperformance of the Nasdaq was due to softness in Apple ($AAPL 163.76, -1.01, -0.6%), Microsoft ($MSFT 329.49, -0.59, -0.2%), Amazon.com ($AMZN 3437.36, -6.36, -0.2%), Tesla ($TSLA 1084.60, -10.40, -1.0%), and Facebook ($FB 310.39, -0.21, -0.1%). Apple was pressured by a report from Bloomberg indicating that the company told suppliers that demand for the iPhone 13 has weakened. AAPL shares declined 0.6%, but they were down as much as 4.2% shortly after the open. Boeing ($BA 202.38, +14.19, +7.5%) stood out with a 7.5% gain on news that China may soon allow the 737 MAX to return to flight. Snowflake ($SNOW 360.38, +49.28, +15.9%) and Kroger ($KR 44.65, +4.44, +11.0%) rallied noticeably following their earnings reports. Elsewhere, the Treasury yield curve experienced some flattening activity amid a rise in shorter-dated rates. The 2-yr yield increased five basis points to 0.61%, and the 10-yr yield increased one basis point to 1.45%. The U.S. Dollar Index increased 0.1% to 96.14. WTI crude futures settled higher by 1.6%, or $1.03, to $66.64/BBL. Strikingly, WTI crude futures were down more than 4.0% immediately after it was reported that OPEC+ agreed to stick to its planned production schedule for January. There was some speculation that the ministers would adjust production because of the Omicron variant and the U.S.-led effort for nations to tap into their oil reserves. Reviewing Thursday's economic data: For the week ending November 27, initial jobless claims increased by 28,000 to 222,000 (Briefing.com consensus 255,000). Continuing claims for the week ending November 20 decreased by 107,000 to 1.956 million.The key takeaway from the report is that initial jobless claims are firming up at lower levels seen before the start of the pandemic. Looking ahead to Friday, investors will receive the Employment Situation Report for November, the ISM Non-Manufacturing Index for November, Factory Orders for October, and the final IHS Markit Services PMI for November. S&P 500 +21.9% YTDNasdaq Composite +19.3% YTDDow Jones Industrial Average +13.2% YTDRussell 2000 +11.7% YTDSource: (Briefing.com) Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page. .