Rising oil prices, falling natural gas, all-time S&P 500 records


© Reuters.

by Daniel Schwartzman

The holiday trading brought gifts for the bulls, as it was at its peak of all time yesterday, and the good mood spread to other indices and asset classes. Is there room for an encore or is this perhaps too good a thing? With rising oil prices, calming prices in Europe and rising covid cases, but hospitalizations and government restrictions lagging behind, much is in the air.

Here’s what you need to know about financial markets on Tuesday, December 28th.

1. Oil prices are rising

Yesterday, oil started lower before turning it up more than 2%. Today, they have risen by 1.4%, while they have risen by 1.2%, and each sets the highest one-month values. It fits in with last week’s market theme – demand will return and any hurdles from the Omicron variant of the Covid-19 will be temporary. The question in the case of oil is whether this will ultimately put pressure on the economy through higher input costs and inflationary pressures.

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2. Where is the ceiling after all the records?

they rose 0.27% and for the first time above the 4,800 mark, which is fresh yesterday after the index closed at the highest level of all time. Nasdaq futures rose .5%, reflecting the continued strength of the technology sector, and rose 83 points, or .23%. Santa Claus – a trend of market growth over the last five trading sessions in one year and the first two next year – is emerging before us, and unless surprisingly bad news comes along, it’s unclear what will slow the momentum.

Consistent with the topic of momentum, Tesla shares (NASDAQ 🙂 rose 1.2% before the market after Wedbush analyst Dan Ives for carmaker from $ 1,100 to $ 1,400 per share. Nvidia (NASDAQ 🙂 also rose 1.5%, with no special news.

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3. European natural gas facilities

in Europe it continued to decline, marking a decline as news from the US and the US-Russia conflict may have eased concerns about energy shortages in the region. European utility companies such as Iberdrola (MC 🙂 i Enel (MI 🙂 was traded more as a sign of relief on the continent. Eyes are fixed on the forecast, and mid-January is expected to bring a rush of cold weather, increasing demand for gas as an energy source and heating source.

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4. Cryptocurrencies are falling, gold is rising

After a positive start to the week, the leading cryptocurrencies fell. fell 3.3% while falling 3.5%. is down 4.5% while yesterday’s leader fell 6%. The sector did not get a rush “the bulls went home for the holidays and persuaded family members to buy,” but it’s not clear what news today could spur a sell-off, if any.

On the other hand, they rose 0.5% in early trading, whether attributable to concerns or perhaps a resurgence of inflation.

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5. The Covid cases set new highs, but the constraints remain milder

The Covid case continues to raise new heights in places around the world, but so far government responses have been muted. The Centers for Disease Control (CDC) announced that quarantines for COVID could only last 5 days instead of 10 days; France imposed restrictions on public assembly, but kept schools open; and Spain has so far only required wearing masks outdoors. As people wait to see how much the severity of the omicron variant could be reduced and what full impact it will have on hospitals and lives, governments around the world are wary of taking the kind of action we saw last year around this time or at the start of the pandemic.

Whether omicron means the end of the pandemic from a health standpoint or just from a policy standpoint remains to be seen, and we keep our fingers crossed that the omicron is indeed mild. So far, the market has kept pace with only a few short-term sales and nothing that has limited the impact of Santa Claus on the markets.

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