Market bulls push up US stocks, Treasury yields as Omicron fears abate - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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US stock indexes and yields on US Treasuries both climbed on Thursday as investors and traders were optimistic about positive economic data and the impact of the Omicron coronavirus variant on the economy, even as COVID-19 case counts soar.

Consumer spending rose 0.6% last month, and the number of Americans filing new claims for unemployment benefits held below pre-pandemic levels last week.

“Today is a very calm day; it’s the relief over Omicron apparently not being as bad as we feared,” said Ryan Detrick, chief market strategist at LPL Financial.

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US testing struggles to keep up with Omicron - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.A surge in US COVID-19 cases from the Omicron variant is overwhelming testing capacity in high-infection areas like New York City due in part to staffing shortages among healthcare workers and the limited number of open test sites, according to interviews with more than a dozen officials, health providers, and test-makers.
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