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

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.