3rd December 2021 Morning Report

Friday 3rd December 2021

After an initial decline, following the concerns over the first case of the Omicron Covid -19 variant on the West coast of the US, the US stock market rebound Thursday amid a week of volatility. Aiding the gain was an agreement in Congress to keep the government funded. At midday trading, the Dow Jones Industrial Average rose 636 points or 1.9%, after the index tumbled 461 points Wednesday to close at 34,022. The S&P 500 gained 1.5%, and the Nasdaq Composite was up 0.86%.

In Europe key markets ended all in the red, falling more than 1% on Thursday, as countries ramped up restrictions to curb the spread of the Omicron which threatens the nascent economic recovery in Europe. The FTSE100 was 0.55% down, while the DAX30 and the CAC40 were also down 1.35% and 1.25% respectively with the STOXX600 ending 1.15% lower.

Asian markets ended Thursday mixed with best performing markets being South Korea’s KOSPI (+1.57%) and the Hong Kong Hang Seng (+0.55%), while following Asian indices all ended in negative territory, the Nikkei 225 (-0.65%) and the Shanghai Composite (-0.09%) and the Singapore STI (-0.2%).

Morning Report 03 December 2021

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