New economic data from the United States (US) saw an increase in cases of infection of the Omicron Covid-19 variant but it will not have a serious impact on the economy has pushed the world stock market to rise thus signaling a positive economic signal.
It indirectly drove gains for oil, the dollar and revived sentiment when the U.S. government stated it would implement isolation rather than travel restrictions to curb damage to the economy.
MSCI’s worldwide stock benchmark was up 0.14% while the pan-European STOXX 600 index was up 0.15%.
The Dow Jones Industrial average was up 0.1%, the S&P 500 added 0.15%and the Nasdaq Composite was up 0.53%.
Meanwhile, Asian markets saw South Korea's manufacturing industry rise 5.1% signaling an improving supply chain problem and Chinese shares rose 1% following Beijing's declining interest rates in 2022.
Meanwhile, Japanese shares were down 0.4% for an annual gain of 4.9% but less than the near 3 highs reached in September and Taiwan’s semiconductor superpower shares rose 24% year -on -year.
The US dollar was up 0.279% against a basket of other currencies while the Euro was down 0.32% at $ 1.1312 and the Japanese Yen at 115.2 yen.
2 -year treasury yields are up 55 basis points since September at 0.75% which is near the highest level since March last year but it reflects expectations of a relatively short and shallow rate hike cycle with 10 -year yields falling lower than the last 6/23 rise in prices at 1.522 %.
US crude oil prices rose 0.47% at $ 76.92 a barrel while Brent oil prices fell 0.08% at $ 79.17 a barrel.
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