Today’s Trading Playbook
KEY THEMES
Global markets kicked off the week on a very jittery notion, affected by the surging cases of Omicron in Europe and the United States, which spooked investor worries. Investors are afraid that re-imposing restrictions on economic activity in major regions is a strong possibility. U.S. equity futures slipped notably in early Monday trading. Meanwhile, Brent oil prices are now trading near USD71/bbl, down 3-4% as the market tries to assess any potential lower demand for fuel products. Other equity markets, including Asian shares, were down for pretty much the same reason. We mentioned here before late November that volatility in global markets is to be expected as investors around the globe slowly get a grasp of the expected impact from the new COVID-19 variant. We note that since then readings of the S&P500 Volatility Index [VIX] have been scoring their highest levels in almost eleven months.
Now, on to the top news and analysis for the day.