U.S. equities have risen in optimism for Omicron; Nasdaq rose 2.4% Financial Market News

Shares of the technology were sold last week amid concerns over the variant and the Federal Reserve’s hawkish bias.

U.S. equities bounced back with equities around the world believing that the omicron variant would not hinder global growth. The Treasury fell, sending two-year earnings to March 2020 at the latest.

The S&P 500 has risen to its highest level since the creation of the new virus strain on the market on November 26. Technology stocks that suffered damage from last week’s sales bounced back, and their favorite retailers were GameStop Corp. and the Nasdaq 100 gained 2.4%. Chinese equities led to a rally in emerging markets after the nation’s political leaders moved to spread support for the economy. Bitcoin rose, the dollar was flat and the gross rose more than $ 71 in New York.

Risk assets are recovering this week as initial data show that the rise in omicron cases has not overwhelmed hospitals and that China’s moves are helping to fix markets caused by volatile volatility. Shares of the technology were sold last week amid concerns over the variant and the Federal Reserve’s hawkish bias.

“This morning’s rally omicron variant won’t cause much trouble for the global economy … and he believes China has taken steps to support economic growth,” wrote Matt Maley, Miller Tabak + Co.’s chief market strategist. If these were the reasons why the market has seen so much growth in volatility since Thanksgiving, we would agree that the worst is over and investors should return to the market with both feet. “

In terms of data, the U.S. trade deficit narrowed and productivity fell in the third quarter. Private consumption was the biggest contributor to the eurozone’s recent economic growth. House prices in the UK were at an all-time high. And China’s exports grew faster than expected, easing the record for foreign demand and a reduction in power.

Meanwhile, research has shown that the Covid-19 vaccine from GlaxoSmithKline Plc and Medicago Inc. of Canada was effective against many variants of the disease.

“The huge losses in the last week have led to a significantly better market mood this week, after several health experts around the world, including U.S. Dr. Anthony Fauci, said that omicron symptoms are milder so far,” said Fiona Cincotta. , Senior City Market Financial Market Analyst. “Although it is still early days, the good news has pushed the cheap-hunter into action. Who would want to miss a chance that a light variant could boost Covid’s natural immunity?

However, stock markets may face further turmoil amid new restrictions on halting the spread of omicron and the resurgence of geopolitical tensions. US and European allies are investigating bank sanctions if Russia invades Ukraine. China has threatened the United States with revenge for its decision to call for a diplomatic boycott of the Winter Olympics. And Finance Secretary Janet Yellen said the US has shown weakness in its confidence in foreign supply chains, pushing for policies that could be considered protectionist.

Elsewhere, China’s economic debt crisis continues to drag on, as the grace period for some China Evergrande Group coupons expires without some bondholders receiving payment and the S&P seems to be a default. A group of bondholders at Kaisa Group Holdings Ltd. also sent a formal indulgence proposal to the company, designed to buy the developer some time and avoid default.

Here are some important events to watch this week:

• The Reserve Bank of India rate decision on Wednesday
• Olaf Scholz will replace Angela Merkel as chancellor on Wednesday
• Christine Lagarde, President of the European Central Bank, spoke at a conference on Wednesday
• Neel Kashkari, chairman of the Federal Reserve Bank of Minneapolis, spoke on Thursday
• Australian Reserve Bank Governor Philip Lowe spoke on Thursday
• China’s CPI, PPI, money supply, new yuan loans, aggregate financing on Thursday
• US CPI Friday

Some of the major market movements:

Stocks

• The S&P 500 rose 1.8% in New York from 9:54 p.m.
• The Nasdaq 100 rose 2.3%
• The Dow Jones Industrial Average rose 1.2%
• The Stoxx Europe 600 rose 2.2%.
• The MSCI World Index rose 1.8%

Coins

• The Bloomberg Dollar Spot Index changed little
• The euro fell 0.4% to $ 1.1242
• The British pound fell 0.3% to $ 1.3230
• The Japanese yen fell 0.2% to 113.67 per dollar

Links

• The 10-year Treasury yield rose one basis point to 1.44%.
• Germany’s 10-year profit rose one basis point to -0.37%.
• The 10-year yield in the UK changed slightly by 0.73%

Goods

• West Texas Intermediate gross rose 3% to $ 71.59 a barrel
• The golden future changed little