U.S. Equities Pared Losses as Investors Eases Concerns on Omicron
Equities in the U.S. traded in the green after reports emerged omicron variant did not cause surge in hospitalization in South Africa
U.S equities recovered from Friday’s selloff after investors at ease on reports that omicron variant has been relatively mild.
S&P 500 rose 1.2% erasing last week’s losses while Nasdaq 100 gained 0.9%.
Markets took a sigh of relief after reported emerged omicron cases did not result in surge in hospitalization. U.S. President’s chief medical adviser – Anthony Fauci on Sunday said, data from South Africa shows omicron variant do not show hospitalization which implied there is not a great degree of severity of the variant.
Saudi Arabia increased crude prices which signaled markets that there is confidence on market demand.
