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Rising Omicron Cases, Tesla Pressure Eases, Bitcoin - What's Moving Markets

Wednesday, December 29, 2021
Rising Omicron Cases, Tesla Pressure Eases, Bitcoin - What's Moving Markets © Reuters

By Peter Nurse

Investing.com -- Omicron cases continue to soar in both Europe and the Americas, but stock markets remain buoyant. Elon Musk has exercised all of his Tesla (NASDAQ:TSLA) options, potentially reducing the selling pressure on the stock, while U.S. crude inventories fall again. Bitcoin remains highly centralized. Here's what you need to know in financial markets on Wednesday, 29th December.

1. Omicron cases soar

Risk sentiment may be on the rise as the year draws to a close, but so are Covid cases. This means trading could be volatile as investors return in force next year.

The World Health Organization’s weekly update, published on Tuesday, showed that the number of new Covid infections grew by 57% in Europe in the week before Dec. 26, and by 30% in the Americas region.

France led the way, reporting Europe’s highest ever daily number with 179,807 cases on Tuesday, but Italy, Greece, Portugal and England all reported record highs as well.

While there are some mobility restrictions in place in Europe, many national governments have been reluctant to implement wholesale lockdowns again, clinging to studies that suggest the dominant Omicron strain of the Covid-19 virus is less harmful than the previous Delta variety.

It’s debatable how long this stance can last if cases continue to soar, especially with the World Health Organization warning that the surge in cases will push health systems towards the brink of collapse.

2. Stocks to edge higher; Omicron in focus

U.S. stocks are set to open marginally higher Wednesday, continuing the recent rally amid optimism that the Omicron variant will not be as economically damaging as first feared.

By 5:25 AM ET (1025 GMT), Dow Jones futures were up 45 points, or 0.1%, S&P 500 futures were up 10 points, or 0.2% and Nasdaq 100 futures climbed 60 points, or 0.4%.

The blue chip Dow Jones Industrial Average closed almost 100 points higher on Tuesday, its fifth straight day of gains, while the S&P 500 and Nasdaq Composite dropped marginally.

The number of Covid cases are on the rise in the U.S., with more than 4.1 million Covid cases this month, according to data from Johns Hopkins University, well above November’s tally of 2.54 million.

However, the Biden administration has made it clear that a national lockdown is not on the cards while the Centers for Disease Control and Prevention recently shortened its isolation recommendation for people who test positive if they don’t have symptoms.

In corporate news, Apple (NASDAQ:AAPL) suspended operations for its iPhone product line at Foxconn in Sriperumbudur, India, citing poor working conditions, while JD.com (NASDAQ:JD).com has increased its share repurchase scheme to $3 billion from $2 billion.

3. Bitcoin still too centralized

The recent selling in Bitcoin continued Wednesday, with the world's biggest and best-known cryptocurrency dropping over 3% to $47,668. This follows on from a fall of over 6% on Tuesday, meaning the digital currency is down 31% from the year's high of $69,000 on Nov. 10.

The cryptocurrency market has come into the mainstream of investor thinking this year, with Bitcoin hitting $1 trillion in market value for the first time in February.

That said, a new study finds that after more than 12 years in existence holdings of Bitcoin are still concentrated in too few individuals. According to a study by the National Bureau of Economic Research, the top 1% Bitcoin holders own 27% of the 19 million Bitcoin currently in circulation.

“This inherent concentration makes Bitcoin susceptible to systemic risk,” researchers Igor Makarov and Antoinette Schoar wrote, “and also implies that the majority of the gains from further adoption are likely to fall disproportionately to a small set of participants.”

Read also: 5 Cryptocurrencies Beyond Bitcoin To Keep On Your Radar In 2022

4. Tesla selling pressure eases

Investors in Tesla, the American electric vehicle manufacturer, will be pleased to hear that CEO Elon Musk has exercised all of his options expiring next year, potentially signaling an end to his stock sales.

Tesla shares lost about a quarter of their value after Musk in November asked his followers on Twitter if he should sell 10% of his holding, primarily to pay a tax bill.

Musk said last week that he would reach his 10% target "when the 10b preprogrammed sales complete," something that the company said was done on Tuesday.

5. Crude helped by falling U.S. inventories

Oil prices stabilized Wednesday, after the previous session’s rally as industry data pointed to a large fall in U.S. crude oil stockpiles, suggesting continued demand from the world’s largest consumer.

By 5:25 AM ET, U.S. crude futures were down 0.1% at $75.92 a barrel, and Brent futures rose 0.1% at $78.78 a barrel. Both contracts are trading near their highest levels in a month.

Data from the American Petroleum Institute, released late Tuesday, showed U.S. crude stocks fell by 3.1 million barrels in the week ended Dec. 24. 

Official data from the U.S. Energy Information Administration are due later Wednesday, and if the draw is confirmed it would be a fifth consecutive weekly decline, the longest run since September.

The global recovery from the Covid pandemic, the rise of the Omicron variant notwithstanding, coupled with the cautious approach of the Organization of Petroleum Exporting Countries in restoring supply is pushing crude towards its biggest annual gain in more than a decade.  

OPEC and its allies including Russia, a group known as OPEC+, is due to meet next week to assess production policy heading into 2022.

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25-01-2022 09:09:22 (UTC+7)

EUR/USD

1.1271

-0.0053 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

EUR/USD

1.1271

-0.0053 (-0.46%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

GBP/USD

1.3469

-0.0016 (-0.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (2)

USD/JPY

113.89

-0.04 (-0.03%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

AUD/USD

0.7132

-0.0008 (-0.10%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (0)

USD/CAD

1.2641

+0.0006 (+0.05%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (11)

EUR/JPY

128.37

-0.62 (-0.48%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0352

+0.0006 (+0.06%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Gold Futures

1,841.90

+0.20 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.712

-0.088 (-0.37%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Copper Futures

4.4158

+0.0033 (+0.07%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (7)

Crude Oil WTI Futures

83.69

+0.38 (+0.46%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (4)

Brent Oil Futures

85.93

+0.50 (+0.59%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (6)

Natural Gas Futures

3.818

-0.057 (-1.47%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (2)

Sell (5)

US Coffee C Futures

237.65

+4.70 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Euro Stoxx 50

4,080.65

+26.29 (+0.65%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (2)

S&P 500

4,410.13

+12.19 (+0.28%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

15,095.45

+84.32 (+0.56%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (2)

FTSE 100

7,356.28

+59.13 (+0.81%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Hang Seng

24,243.61

-412.85 (-1.67%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

US Small Cap 2000

2,030.04

+42.12 (+2.12%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (0)

IBEX 35

8,497.02

+79.22 (+0.94%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (6)

BASF SE NA O.N.

65.310

+1.050 (+1.63%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Bayer AG NA

50.84

+0.84 (+1.68%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

Allianz SE VNA O.N.

220.00

+3.40 (+1.57%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

Adidas AG

239.10

-1.65 (-0.69%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (11)

Sell (0)

Deutsche Lufthansa AG

6.676

+0.116 (+1.77%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

137.57

+0.13 (+0.09%)

Summary

Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (3)

Sell (4)

Deutsche Bank AG

10.985

+0.225 (+2.09%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

 EUR/USD1.1271↑ Sell
 GBP/USD1.3469↑ Buy
 USD/JPY113.89↑ Sell
 AUD/USD0.7132↑ Buy
 USD/CAD1.2641↑ Sell
 EUR/JPY128.37↑ Sell
 EUR/CHF1.0352↑ Sell
 Gold1,841.90↑ Buy
 Silver23.712↑ Sell
 Copper4.4158Sell
 Crude Oil WTI83.69Neutral
 Brent Oil85.93Sell
 Natural Gas3.818↑ Sell
 US Coffee C237.65↑ Buy
 Euro Stoxx 504,080.65Buy
 S&P 5004,410.13↑ Buy
 DAX15,095.45Neutral
 FTSE 1007,356.28↑ Buy
 Hang Seng24,243.61↑ Buy
 Small Cap 20002,030.04↑ Buy
 IBEX 358,497.02↑ Sell
 BASF65.310↑ Buy
 Bayer50.84↑ Sell
 Allianz220.00↑ Buy
 Adidas239.10↑ Buy
 Lufthansa6.676↑ Sell
 Siemens AG137.57Sell
 Deutsche Bank AG10.985↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,195/ 6,245
(25/ 35) # 1,202
SJC HCM6,190/ 6,255
(40/ 45) # 1,211
SJC Hanoi6,190/ 6,257
(40/ 45) # 1,213
SJC Danang6,190/ 6,257
(40/ 45) # 1,213
SJC Nhatrang6,190/ 6,257
(40/ 45) # 1,213
SJC Cantho6,190/ 6,257
(40/ 45) # 1,213
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$1,842.96-0.57-0.03%
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Sản phẩmVùng 1Vùng 2
RON 95-IV2486025350
RON 95-II,III
E5 RON 92-II2359024060
DO 0.05S1890019270
DO 0,001S-V1925019630
Dầu hỏa1779018140
ↂ Giá dầu thô thế giới
WTI$83.73+0.050.06%
Brent$86.88+0.050.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.470,0022.780,00
EUR24.914,3926.311,12
GBP29.734,0431.003,87
JPY192,65203,94
KRW16,3519,92
Cập nhật lúc 18:49:50 25/01/2022
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