Trading has started the week on a cautiously optimistic note in Europe and the Far East as investors await decisions from central banks all around the globe. Stateside stocks look set to follow suit, with DOW futures having climbed by 0.25%.
Many eyes are on the Federal Reserve, which is expected to join the Bank of Japan, the Bank of England and the European Central Bank in making a decision on monetary policy this week. The key issue is inflation, with Friday seeing the US achieve its highest rate of inflation acceleration in almost 40 years.
In the meantime, markets are likely to continue to be influenced by all the latest Omicron news. The new COVID variant appears to be taking hold in a number of Western nations, but its effects are still thought to be mild compared to previous troublesome strains.
Even so, Omicron looks more than capable of causing major disruption if transmission is not kept under control.
| NASDAQ | S&P 500 | Bitcoin |
|---|---|---|
| 15,630.60 (+0.73%) | 4,712.02 (+0.95%) | 48,836.96 (-0.38%) |
Here's some of the key stock market news from Monday:
Pfizer (NYSE: PFE) shares were set to rise on Monday after the weekend saw a team of Israeli researchers report that the company’s vaccine provides significant protection from the Omicron variant.
Lucid Motors (NASDAQ: LCID) has gained attention after its CEO Peter Rawlinson was interviewed on HBO on Sunday, with the head honcho stating that the company is keen to sell more affordable electric vehicles.
Ford (NYSE: F) climbed, with investors apparently still pleased with the objectives achieved in its November sales figures.
Everbridge (NASDAQ: EVBG) shares have dived over recent days following the resignation of CEO David Meredith.
General Motors (NYSE: GM) was in the green after it announced its plans to construct an electric vehicle battery factory in Lansing, Michigan, through a partnership with LG Energy Solution.
GameStop (NYSE: GME) shares were higher amid speculation that the retailer will be restocked with in-demand consoles this week.
Datadog (NASDAQ: DDOG) is on course to rise on Monday following its announcement before the weekend that it will launch a new tool to help customers protect their data.
Here’s some of the news coming out of Asia:
Papers in China are continuing to report on a controversial firing from Alibaba (NYSE: BABA). The company reportedly fired a female employee who accused a coworker of sexual assault, with the ecommerce giant stating in her dismissal letter that she had spread damaging rumours about the company.
Chinese AI startup SenseTime has delayed its Hong Kong IPO after the US Treasury put the company on a list of Chinese military industrial complex businesses, effectively banning US investment.
Reuters has reported that a number of publicly traded Chinese companies have announced they have suspended production in Zhejiang province due to new COVID restrictions. Ningbo Homelink Eco-Itech (SHE: 301193), Zhejiang Jingsheng Mechanical & Electrical (SHE:300361) and Zhejiang Jindun Fans (SHE: 300411) are among those affected.
Finally, let’s take a look at some of today’s biggest cryptocurrency news:
Most currencies were trading lower on Monday, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Cardano (ADA) all finding themselves in the red.
Binance (BNB) surprised some users after suddenly deciding to close its Singapore-based trading platform and withdrawing from its attempts to secure a permanent exchange operation license in the city state.
Hackers who are presumably upset at plans for increased regulation of cryptocurrency in India hacked into the Twitter account of President Narendra Modi, tweeting that Bitcoin was the nation’s legal tender.
Videogame development guru Peter Molyneux has announced that he is working on a blockchain-based game that will feature the use of NFTs. Blockchain gaming has yet to take off, though Fable creator Molyneux is a big name to wade into the crypto sphere.