Market Wrap

ASX 200 pre-market wrap - US stocks rebound on omicron optimism

Wed 08 Dec 21, 8:56am (AEST)

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KEY POINTS

ASX SPI futures are currently pointing to a 55 point increase, up 0.7% to 7,386.

US stocks rallied for a second day as investors became less worried about the potential economic impact of the omicron variant.

China has signaled measures to boost its economy following a debt-ridden rout in its property sector. President Xi Jinping’s leadership committee signed off on plans for more targeted lending to businesses and support for the housing market.

All eyes on US inflation data later this week. The consumer price index is expected to worsen from 6.2% in October to 6.9% in November. This could become the catalyst for the Federal Reserve to accelerate the tightening of its policies.

 

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Written By

Kerry Sun

Finance Writer & Social Media

Kerry holds a Bachelor of Commerce from Monash University and was Vice President of the University Network for Investing and Trading (UNIT). He is an avid swing trader, and drawn to breakouts and technical set ups. Outside of writing and trading, Kerry is a huge UFC fan, loves poker and bouldering.

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