Stocks, U.S. futures steady amid thin trading
BNN Bloomberg
A rebound in stocks and U.S. futures stalled on Wednesday on thin trading volume ahead of the holidays, as investors awaited clarity on the economic impact of the omicron variant and the outlook for U.S. fiscal stimulus.
A rebound in stocks and U.S. futures stalled on Wednesday on thin trading volume ahead of the holidays, as investors awaited clarity on the economic impact of the omicron variant and the outlook for U.S. fiscal stimulus.
In Europe, travel shares advanced as utilities fell, while a gauge of Asia-Pacific shares was in the green. Contracts on the S&P 500 were steady, while those on the Nasdaq 100 were lower after rebounding Tuesday from a slump. Tesla Inc. rose in premarket trading after Chief Executive Officer Elon Musk sold more of his stake in the firm.
A dollar gauge was steady, while Treasury yields and crude oil prices ticked up.
Markets have been volatile at the end of a year that has seen equities rally amid a recovery from the pandemic, before losing some steam on worries about inflation, tighter policy and stricter curbs brought on by the omicron virus variant. Focus also remains on the US$2 trillion U.S. economic plan after President Joe Biden said there’s still a chance he can strike a deal to get it through Congress.
Thinner trading volumes heading into the holidays could exacerbate market swings, leaving strategists reluctant to read much into day-to-day gyrations during the period.
