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Stocks up, oil eases as investors digest post-Christmas Omicron hangover

  • 📰 Reuters
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  • News: 7%
  • Publisher: 97%

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Global equity markets stocks rose and oil prices eased on Monday as flight cancellations over Christmas revived concerns that the Omicron coronavirus variant could slow the economy into 2022.

The gains followed record levels at Thursday's close amid signs that Omicron may cause a milder level of illness, even as the highly transmissible variant led to a surge in case numbers.

In the foreign exchange markets, the dollar was rangebound, despite a hawkish turn at the Federal Reserve this month that saw policymakers signal three quarter-point rate hikes in 2022.

 

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Asia stocks, oil struggle as Omicron worries weighAsian stock markets were generally weaker with U.S. crude in holiday-thinned trading on Monday, as uncertainty over the economic impact of the Omicron coronavirus variant weighed on investor sentiment.
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