Friday, February 3, 2023

Global stocks edge up after Wall St., allaying Omicron’s fears. AP News

TOKYO ( Associated Press) – Global stocks rose on Tuesday after a rally on Wall Street as investors brushed off concerns about the highly permeable Omicron version of the coronavirus.

France’s CAC 40 rose 0.2% to 7,155.68 in early trade, while Germany’s DAX rose 0.3% to 15,878.65. Britain’s FTSE 100 was slightly up at 7,372.10. US shares were set for gains, with Dow futures rising nearly 0.1% to 26,200.00. S&P 500 futures were little changed, down 0.1% at 4,783.25.

With the New Year celebrations approaching, Omicron’s desire to break free from the uncertainties and party is being contested.

Omicron infections in Britain have pushed caseloads to record highs, and in other parts of the United Kingdom, officials have ordered nightclubs to close and imposed limits on gatherings.

Non-essential businesses and lockdowns in some European countries have been closed or will be implemented soon

Much of Asia is seeing an increase in infections from the already ongoing Omicron variant to other parts of the world, but experts are warning that the region will not be spared.

Japan’s benchmark Nikkei 225 jumped 1.4% to end at 29,069.16. South Korea’s Kospi ended 0.7% higher at 3,020.24. Hong Kong’s Hang Seng edged up 0.2% at 23,280.56, while the Shanghai Composite gained 0.4% to 3,630.11. Trading was closed in Australia for Boxing Day.

In Japan, new daily cases have averaged 200 until recently, with no major wave of new cases so far. Many areas are crowded with year-end shoppers, and events are being held with spectators, though most are wearing masks.

Still, analysts warned that uncertainties lie ahead.

“The record rallies are very optimistic,” said Mizuho Bank’s Vishnu Varthan, pointing to the large number of Omicron cases in Europe and the US.

Technology companies pushed US stocks broadly higher on Monday as Wall Street kicked off the final week in a banner year for the stock market with mostly muted trading.

Omicron coronavirus spreading fast with virus Across the US and other countries, most large investors have closed their positions for 2021, and they want to keep their positions until next week.

Authorities in several countries have doubled down on vaccination efforts as the Omicron outbreak complicates efforts to avert new lockdowns, while hospitals are still strained by delta-type infections.

Benchmark US crude in energy trading rose 40 cents to $75.97 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, it rose $1.78 to $75.57 a barrel.

Brent crude, the international standard, rose 39 cents to $78.99 a barrel.

In currency trading, the US Dollar declined from $114.87 to $114.80. Euro price is $1.1330, above $1.1327.

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Nation World News Desk
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