Stock market week is probably all about new corona variant

Stock market week is probably all about new corona variant

Photo: ANP

In the new stock market week, investors are paying particular attention to the developments surrounding the new corona variant from southern Africa. On Friday there was already great unrest on the stock markets because of this variant. Attention on the stock exchange floors is also focused on the monthly American jobs report, which will be released on Friday.

The Omikron variant discovered in South Africa may be more contagious than previous variants, but not much is known about it yet. Omikron has now been established in several countries, including the Netherlands. The World Health Organization (WHO) calls this variant “worrying”. In the financial markets, the main question now is to what extent the world will once again be economically disrupted.

The news about Omikron already caused a shock on the stock markets worldwide on Friday. The AEX index in Amsterdam plunged 3.2 percent, the most important indicators in Frankfurt, London and Paris dropped to 4.8 percent and there were also significant losses in New York.

Shares of companies from the travel and tourism sector, as well as banks and oil companies, in particular, fell sharply. The latter was because oil prices fell sharply amid fears that demand for oil will decline again due to new travel restrictions. Depending on how the issue develops, certain stocks will rebound or fall further in the coming days.

The countries of the oil cartel OPEC and allies such as Russia are already thinking about canceling the planned increase in oil production for January, Bloomberg news agency reported on the basis of insiders. In this way, the oil-producing countries could support oil prices again. OPEC is also holding a meeting this week at which decisions may be made.

There are hardly any business results of large companies on the agenda in the new stock exchange week. However, investors are again faced with a lot of macroeconomic data. In the Netherlands, for example, there is an update on the turnover of the retail trade, new inflation figures are coming from Germany and various updates on the activity in industry and the services sector will follow worldwide.

In the United States, the government releases new employment figures. These are invariably watched closely by investors, because the US central bank also uses the data in formulating its monetary policy. The Federal Reserve just started phasing out support measures for the economy in November.

Stock market week is probably all about new corona variant
Source link Stock market week is probably all about new corona variant

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