Stocks rebounded on Thursday, rising from Wednesday's Omicron variant driven rout, as investors brought the dip in cyclical names. The Dow Jones Industrial Average soared over 600 points, while the S&P 500 jumped over 1.4% and the Nasdaq increased by 0.83%.

Here's how the market settled on Thursday:

S&P 500 Index (SPY  ): +1.42% or +64.06 points to 4,577.10

Dow Jones Industrial Average (DIA  ): +1.82% or +617.75 points to 34,639.79

Nasdaq Composite Index (QQQ  ): +0.83% or +127.27 points to 15,381.32

White House tightens travel rules in response to Omicron:

The Biden administration announced Thursday that it is tightening travel rules to and within the United States in response to the new, highly mutated Omicron COVID variant.

The nation will require all in-bound international passengers to test for COVID with 24 hours of departure and is extending its mask requirement for all domestic flights and public transportation through March 18.

Square to change its name to Block:

Square (SQ  ) announced late Wednesday that it is changing its corporate name to Block, with the fintech moving to focus on technologies such as blockchain.

The company said the new name, effective Dec. 10, "acknowledges the company's growth," and "creates room for further growth." Block will still trade under the ticker SQ on the New York Stock Exchange.

"We built the Square brand for our Seller business, with is where it belongs," said co-founder and CEO Jack Dorsey in a press statement. "Block is a new name, but our purpose of economic empowerment remains the same. No matter how we grow or change, we will continue to build tools to help increase access to the economy."

Weekly jobless claims rise, but remain at pre-pandemic levels:

New unemployment claims rose for the first time in eight weeks for the week ended Nov. 27, but still remained around pre-pandemic levels.

Jobless claims totaled 222,000 last week, according to the Labor Department's latest report published Thursday, rising from the previous week's downwardly revised print of 194,000. However, last week's claims beat consensus economists expectations for new claims to total 240,000.

Continuing jobless claims, however, fell by a more-than-expected rate at 1.956 million for the week ended Nov. 20, its lowest level since March 2020.

Here's how market benchmarks started trading soon after open:

S&P 500 Index: +0.09% or +4.27 points to 4,517.31

Dow Jones Industrial Average: +0.51% or +172.78 points to 34,194.82

Nasdaq Composite Index: -0.23% or -35.77 points to 15,219.65