Markets Navigator 24/12/2021

Global equity markets. Optimism prevailed on Wall Street in thin pre-holiday trading (US markets are closed today in observance of Christmas). The release of initial jobless claims and personal income/spending data, which came in line with expectations, helped lift the S&P 500 by 0.6% to an all-time high, while the Nasdaq gained 0.9%. European markets reached a one-month high (EuroSTOXX +1.2%, DAX +1.0%) amid a further easing of investor fears regarding the omicron variant. This also supported the Brent price, which has risen 1.3% vs. Wednesday’s close to currently trade above $76/bbl. Asian markets are flat to slightly lower this morning, with Chinese stocks showing the weakest dynamic. Markets in Germany are closed today, while those in the UK, France and Hong Kong will have shortened trading sessions.