World Stock Prices Gain on Strong US Holiday Sales

A trader works on the trading floor at the New York Stock Exchange (NYSE) as the Omicron coronavirus variant continues to spread in Manhattan, New York City, N.Y., on Dec. 20, 2021. Andrew Kelly/Reuters

WASHINGTON—Global stock markets rose on Monday and oil prices eased as investors hailed strong U.S. holiday season sales and some grew less fearful about economic damage from the Omicron variant of COVID-19.

Still, fears that the pandemic could hurt economic growth pushed gold prices to the highest in more than a week despite pressure from a firmer U.S. dollar.