US indices are going for records and oil is stable
On Monday, the Centers for Disease Control and Prevention (CDC) reduced the recommended isolation time for Americans with asymptomatic cases of COVID-19 infection to five days from 10 days previously. The CDC has issued new recommendations, as well as the approval of new pills and vaccines against COVID-19. This helped investors not respond sharply to the cancellation of thousands of flights and the closure of Apple stores due to increased illness among employees.
On Tuesday, Asian stock indexes were mixed and are decreasing at the opening on Wednesday. Traders negatively weigh the economic growth risks associated with the Omicron virus outbreak and the latest regulatory tightening in China. In Asia, there are relatively few cases of infection with a strain Оmicron compared to European countries and the United States. Despite this fact, investors are growing concerned that the rise in the disease will lead to lockdowns and new problems in supply chains. But the Australian stock market, which opened on Wednesday for the first time since the Christmas holiday, saw strong gains. The Australian ASX 200 Index (AU200) jumped by 1.21% from the open.
The data from the American Petroleum Institute showed that US crude oil inventories fell by 3.1 million barrels last week, which was in line with analysts’ expectations. The oil keeps its upward trend as Omicron risks to demand decrease while inventories are also declining, causing a weak deficit. The US Department of Energy will release its report on crude oil inventories today.
The number of tankers carrying gas from the US to Europe has increased by a third. This suggests that Europe does not have enough reserves to pass the heating season.
S&P 500 (F) (US500) 4,786.35 −4.84 (−0.10%)
Dow Jones (US30) 36,398.21 +95.83 (+0.26%)
DAX (DE40) 15,963.70 +128.45 (+0.81%)
FTSE 100 (UK100) 7,372.10 −1.24 (−0.02%)
USD Index 96.16 +0.07 (+0.07%)
News feed for: 2023.07.04
- US Pending Home Sales (m/m) at 17:00 (GMT+2);
- US Crude Oil Inventories (w/w) at 17:30 (GMT+2).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
