Dow gains over 300 points early Monday but tech-heavy Nasdaq Composite remains under selling pressure

U.S. stock benchmarks traded mostly higher early Monday, as investors digested the latest news on the spread of the coronavirus and prepared for new inflation data later in the week. Dr. Anthony Fauci told CNN's "State of the Union" that the early reports of the spread of the omicron variant of coronavirus suggest it might be less dangerous than the delta wave. Reports from South Africa show that while the virus is rapidly spreading, hospitalizations are not. The Dow Jones Industrial Average was trading 308 points, or 0.9%, higher at 34,891, the S&P 500 index advanced 0.5% to 4,561, while the Nasdaq Composite Index traded lower, off 0.2% at 15,054. Shares of Lucid Group Inc. was in focus after the California-based electric vehicle maker disclosed that it was subpoenaed by the Securities and Exchange Commission related to an investigation.

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