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29 Dec 2021

U.S. Futures and European Stocks Soar while Treasuries Remain Stable

U.S. Futures and European Stocks Soar while Treasuries Remain Stable

The Index Today

U.S. equity futures and European stocks inched higher on Wednesday while the treasuries and the dollar enjoyed relative stability. This comes as traders attempt to gauge the impact of the rapidly-spreading Omicron variant on the world economy.

The FTSE 100 Index hit a record high since February 2020 after U.K. markets resumed post the Christmas holiday, while the Stoxx Europe 600 index edged higher. The S&P 500 futures and Nasdaq 100 soared while technology stocks retreated.

According to Jeffrey Halley, an OANDA Senior Market Analyst, said, “Although omicron cases in the U.S. and Europe amongst others, continue to surge, it has yet to make its presence felt negatively in economic data.” “With market activity much reduced for the holiday season, investors continue to tentatively price in a global recovery hitting a minor bump, and not a pothole,” he added.

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