Global stocks and oil continued the ‘bull’ trend as investors were optimistic about positive economic data as well as dismissing Omicron’s impact on the economy despite growing cases.
By Christmas over the weekend, stocks continued their ‘bull’ momentum after consumer spending data rose 0.6% and the number of U.S. citizens filing new claims for unemployment benefits declined.
In addition, the ‘Santa Claus Rally’ dubbed by investors to describe the Christmas holidays has further boosted gold and oil trading.
Meanwhile, concerns over the Omicron variant are fading as Merks and Pfizer, vaccine makers and manufacturers say existing vaccines are effective against the new variant and also a study report from Imperial College London stating that the hospitalization risk for the new variant is less than 40% to 45%. of the Delta variant.
The Dow Jones Industrial average rose 0.55% at 35,950.56 while the S&P 500 hit 0.62% at 4,725.79% and the Nasdaq Composite added 0.85% at 15,653.37.
MSCI's worldwide share benchmark rose 0.72%.
The 10-year US treasury benchmark yield rose 3.5 basis points at 1.4926% after investors shifted from safe-haven assets.
The safe-haven dollar rose against a basket of other currencies but its gains were limited by risk-on sentiment supported by the Australian dollar and the British pound.
Oil prices extended gains after signals about the impact of the Omicron variant being curable with new travel restrictions have seen US crude rise 1.37% at $ 73.76 a barrel and Brent oil add 1.91% at $ 76.73.
