Dow leaps 560 points in sharp rebound | Cramer believes in the Santa Claus rally | Goldman's picks to beat volatility

The major averages roared back from their three-day losing streak on Tuesday.

VIEW IN BROWSER | SUBSCRIBE TUE, DEC 21, 2021 EVENING BRIEF AS OF TUE, DEC 21, 2021 • 04:49 ET DJIA 35492.70 +1.60% +560.54 S&P 500 4649.23 +1.78% +81.21 NASDAQ 15341.09 +2.40% +360.14   Most Active DOW NAME LAST CHG %CHG AAPL 172.99 +3.24 +1.91% INTC 50.77 +1.17 +2.36% MSFT 327.29 +7.38 +2.31% S&P 500 NAME LAST CHG %CHG AAPL 172.99 +3.24 +1.91% T 24.47 +0.28 +1.16% CCL 20.54 +1.64 +8.68% NASDAQ NAME LAST CHG %CHG AAPL 172.99 +3.24 +1.91% MU 90.68 +8.65 +10.54% AMD 144.25 +8.45 +6.22%   EDITOR'S NOTE The major averages roared back from their three-day losing streak on Tuesday as investors looked past recent concerns about the omicron variant.   Indeed, speaking to the public on Tuesday afternoon, President Joe Biden said that people with booster shots are "highly protected" against the coronavirus. He also said that the U.S. isn't going back to March 2020 – a time when Covid cases soared and lockdowns ensued.   The Dow Jones Industrial Average bounced 560.54 points, helped by a nearly 5.9% gain in Boeing and a 6.1% rally in Nike. The S&P 500 and Nasdaq Composite rose about 1.8% and 2.4%, respectively.   Small-cap stocks, those most sensitive to the economic recovery, were the outperformers on Tuesday. The Russell 2000 added 2.9%.   "Traders are setting up for the end of the year, taking advantage of the weakness in consumer cyclicals on the back of omicron," said Shannon Saccocia, chief investment officer at Boston Private. "I think it still seems a bit early to jump back into these names, given the unfolding story around the variant, but perhaps optimism is taking hold as we move into lower volume sessions tomorrow and Thursday."   The rebound in equities favored reopening plays like airlines, cruise operators and casino stocks. Delta Air Lines rose 5.9%, and United Airlines gained 6.8%. Carnival added 8.6%. Las Vegas Sands jumped 8.4%. Caesars Entertainment climbed 8.7%.    Energy stocks also came back alongside U.S. oil prices. Shares of Devon Energy leapt 7.9%.  "The movement in the bond market is even more telling, with the 10-year yield popping again on a rotation back to risk," added Saccocia.    The 10-year Treasury yield rebounded to nearly 1.5% after worries around omicron slowing the recovery brought it below 1.4% late last week. Maggie Fitzgerald | CNBC Markets Reporter @mkmfitzgerald Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow jumps 560 points as market rebounds from omicron-triggered 3-day slide Biden speaks on U.S. efforts to contain Covid as omicron cases surge CDC director says initial Covid shots 'may not be enough' as omicron rapidly sweeps the nation Goldman sees more volatility ahead, but has a market-beating portfolio of stocks to ride it out Cramer still believes in Santa Claus rally into end of 2021 even as Covid omicron cases spike Americans are tired of Covid – and the official response to omicron has only created more frustration GOP Rep. Scott Perry says he won't cooperate with House probe of Jan. 6 riot Tom Lee, the strategist who has correctly guided through the pandemic, sees more gains next year Criminals have stolen nearly $100 billion in Covid relief funds, Secret Service says Biden administration considers extending payment pause for student loan borrowers   TOP VIDEO Santa Claus rally may not happen the way markets expect: Halftime trader   CNBC PRO Top auto analyst Adam Jonas shares his 2022 surprises, plus a prediction for a big move by Tesla   SPECIAL REPORTS What to know before doing any year-end portfolio rebalancing Professional Santas can make as much as $20,000 in one holiday season—here's what it takes   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS Watch our live stream for all you need to know to invest smarter.