Dow climbs more than 600 points and regains 35,000 level, as Wall Street watches virus, inflation updates, By forex forum

[somrat4030]

​

Forex Forum, Financial Market Updates Today​

Source: https://www.marketwatch.com/

The Dow was up 1.8%, or some 610 points, mid-morning, while the broader S&P 500 climbed nearly 1%. The Nasdaq Composite, which faced the steepest selloff Friday, continued to be the weakest index, rising only a modest 0.2%.​

The market has been in a state of constant volatility since the new Omicron variant of the coronavirus was identified at the end of November.

The variant is now dominating new infections in South Africa, and several European countries have reported spikes in Covid cases. Infectious diseases expert Dr. Anthony Fauci, meanwhile, said early data on the Omicron variant doesn't suggest it causes severe illness.

The uncertainty surrounding Omicron and its infectiousness, along with the Federal Reserve's plans to wrap up its pandemic-era stimulus program sooner than first expected, continue to be big themes for investors and potential negative catalysts for equities. You can learn more about financial news and updates at forex forum.

Stocks also pulled back Friday following a weaker-than-expected November jobs report.

Even though Monday is very quiet on the economic data front, there are various reports due this week that have the potential to move the market or change investors' views of the recovery.

On Wednesday, a look at job openings in October will reveal how the worker shortage is progressing. And on Friday, November consumer price inflation will show whether price increases are getting worse.

Elsewhere, Bitcoin prices have edged higher again, trading up 2%, according to CoinDesk data, following a steep selloff at the end of last week.
In other asset classes, the 10-year US Treasury bond yield has climbed to just below 1.4% Monday morning. The US dollar also rose against its major rivals, up 0.3% per the ICE US Dollar Index.

In commodities, US oil prices climbed 2.5%, or $1.70, to $67.95 per barrel.​

What's happening​

• The Dow Jones Industrial Average DJIA, +1.80% surged 638 points, or 1.8%, to 35,215, powered by strong point gains in UnitedHealth Group Inc. UNH, +2.03%, Goldman Sachs Group Inc. GS, +2.04%, Home Depot Inc. HD, +1.94% and Boeing Co. BA, +3.61%

• The S&P 500 SPX, 0.97% was trading 45 points, or 1%, higher at 4,583.

• The Nasdaq Composite Index COMP, +0.21% was trading off by 11 points to reach 15,084, up less than 0.1%, but had touched an early intraday nadir at 14,931.61.

Last week, the Dow fell 0.9%, the S&P 500 declined 1.2%, and the Nasdaq Composite dropped 2.6%.

You can learn more about forex trading strategies at forum.forex



#forexforum #forextradingforum #forexsignalforum #currencytradingtips #forextradingtips #fxforum #Topforexforum #bestforexforum #fxtrading #forumforex #currencytradingforum #currencytradersforum #forextrading #currencytrading #forumdotforex #forexnews #howtomakemoneytradingforex #trading #currency