Oil rises, natural gas falls, S&P 500 all-time high

© Reuters.

by Daniel Shvartsman

Holiday trading has brought gifts for the bulls, as it set an all-time high yesterday, with positive cheer spilling over into other indices and asset classes. Is there room for an encore, or could this be a good thing? With oil prices climbing, prices stabilizing in Europe and cases rising but hospitalizations and government restrictions still lingering, there’s a lot in the air.

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

1. Oil prices heat up

Yesterday, oil prices started to fall before reversing to a gain of more than 2%. Today, up 1.4% while up 1.2%, each established a one-month high. It aligns with the theme of the market last week – demand will return and any setbacks from the Omicron variant of Covid-19 will be temporary. The question in the case of oil is whether this will put pressure on the economy through higher input costs and inflationary pressures.

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2. After the all-time high, where is the ceiling?

up .27% and above the 4800 mark for the first time, the index closed at an all-time high yesterday. Nasdaq futures were up 0.5%, reflecting continued strength in the technology sector, and were up 83 points, or 0.23%. The Santa Rally – the bull market trend for the last five trading sessions of one year and the first two sessions of the next – is ahead of us, and unless some unexpected bad news hits, it’s unknown. What will slow the uptrend?

In keeping with the momentum theme, Tesla (NASDAQ:) stock rose 1.2% pre-market after Wedbush analyst Dan Ives for the automaker from $1100 to $1400 per share. Nvidia (NASDAQ:) also gained 1.5%, no specific news.

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3. European Natural Gas

in Europe continued to decline, marking a decline, as from the US and news about US-Russia relations may have allayed concerns about energy shortages in the region. European facilities such as Iberdrola (MC 🙂 and Enel (MI:) trades higher as a sign of relief on the continent. Forecasts are catching on, with mid-January forecast to bring a bout of cold weather, increasing demand for gas as a source of energy and heating.

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4. Cryptocurrency down, gold up

After a positive start to the week, the top cryptocurrencies have dropped in price. was a decrease of 3.3% while a decrease of 3.5%. down 4.5% while, yesterday’s leader, fell 6%. The area hasn’t seen an increase in “bulls going home for the holidays and talking family members buying,” but it’s unclear what news could prompt today’s sell-off, if any.

On the other hand, 0.5% gain in early trading, whether due to concerns about or perhaps nascent inflation.

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5. Vibrant cases set new highs, but restraints remain milder

Covid cases continue to set new heights in many parts of the world, but government responses have so far been muted. The Centers for Disease Control (CDC) announced that the quarantine period for COVID may be as short as 5 days instead of 10 days; France enforces restrictions on public gatherings but keeps schools open; and Spain have so far only required the wearing of masks outdoors. While everyone waits to see how the severity of the omicron variation can be reduced and the full impact on hospitals and lives, governments around the world are cautious in adopting these types. measure seen last year around this time or at the very beginning. of the pandemic.

Whether omicrons mean the end of the pandemic from a health standpoint or just from a policy point of view remains to be seen, and fingers are given that omicrons are indeed mild. So far, the market has been favorable with only a few short-term sell-offs, and there is nothing to limit Santa’s effect on the market.

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Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor is it accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges but by market makers, so prices may be inaccurate and subject to change. differs from the actual market price, which means that the price is indicative only and is not suitable for trading purposes. Therefore, Fusion Media does not accept any responsibility for any trading losses you may incur as a result of using this data.

Fusion Media or anyone associated with Fusion Media shall not bear any liability for loss or damage resulting from reliance on information including data, quotes, charts and buy/sell signals contained in this site. Please be fully informed of the risks and costs associated with trading in financial markets, which are among the riskiest forms of investment possible.

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