Stocks rise for second day; dollar declines
BNN Bloomberg
Stocks rose as investors awaited clarity on the impacts of the omicron coronavirus variant and the outlook for fiscal stimulus.
Stocks rose as investors awaited clarity on the impacts of the omicron coronavirus variant and the outlook for fiscal stimulus.
The S&P 500 gained for a second straight day. The dollar retreated, while bonds wavered. Tesla Inc. rose as Elon Musk said he has disposed of enough shares to reach a target of reducing his stake in the electric-car maker by 10 per cent.
The Biden administration expects to take delivery of 4 million courses of COVID-19 treatments by the end of January, according to officials familiar with the matter. South Africans contracting coronavirus in the current wave of infections are 80 per cent less likely to be hospitalized if they catch the omicron strain, according to a study. Officials across the U.S. have pledged to avoid shutdowns, but a surge of cases is leaving some restaurants, shows and schools no choice but to close their doors.
“Despite the new restriction measures, many investors believe that omicron would only have a temporary impact on the economic activity and should not be a problem for the overall positive trend in equities,” said Ipek Ozkardeskaya, senior analyst at Swissquote Group.
Focus also remains on the US$2 trillion U.S. economic plan after President Biden said there’s still a chance he can strike a deal to get it through Congress.
