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The Snippet Markets Ahead for the Week of December 6

Markets ahead are mixed as tech stocks continued to be hit



Market are mixed as week of December 6 begins
Reading Time: 2 minutes

A Snippet flash of the week’s market ahead

Snippet Markets Week Ahead [Monday, December 6, 2021] –

Wall Street futures trade higher on new currency easing bets.

The main Asian stock exchanges ended on a fall on Monday, while futures on Wall Street operate in positive territory, as investors evaluate the regulatory perspectives for Chinese tech companies, as well as bets on an easing of monetary policy.

The index of Chinese technology stocks traded in Hong Kong fell for a third day. Mainland China stocks fluctuated and government bonds rallied amid bets the central bank will soon ease monetary policy to help economic growth.

Chinese Prime Minister Li Keqiang has signaled an upcoming cut in the amount of money banks must hold in reserve — which could come later this month.

China’s securities watchdog on Sunday tried to allay fears about the withdrawal of Chinese companies from US stock exchanges. Didi Global’s plan to move its listing from New York to Hong Kong sent the country’s US stocks plummeting and raised fears that others would follow.

In the US, attention is turning to US consumer prices, which are expected to show the biggest annual advance in decades, keeping pressure on the Federal Reserve to provide a quicker policy tightening. That assessment is unlikely to change after US jobs have seen the smallest gain this year.

While markets are nervous about the Ômicron variant, South Africa has reported that the variant is not fueling an increase in hospitalizations, and US medical adviser Anthony Fauci said there doesn’t seem to be “a large degree of severity” to it, although he warned that it is too early to be sure. The president of the drugmaker Moderna said there is a “real risk” that existing vaccines will be less effective against Ômicron.

Among commodities, gold operates stable and oil rose after Saudi Arabia raised the prices of oil produced in the country. Bitcoin, meanwhile, has plummeted on Saturday and operates below $50,000.

🌐 International: European stocks up, S&P futures stable | 12/06/2021

• European stocks rally, S&P 500 futures are stable and Nasdaq futures retreat. | Bloomberg

• Asian markets fell as investors weighed the impact of the omicron variant, regulatory prospects for Chinese tech companies and bets on easing monetary policy in the Asian country. | Bloomberg

• Hong Kong-traded technology stock index retreated for the third day; Mainland China equities tumbled and government bonds rallied amid bets the central bank will soon ease monetary policy to help growth. | Bloomberg

• South Africa reported that the variant is not generating an increase in hospitalizations and US medical adviser Anthony Fauci said there did not appear to be “a large degree of seriousness for the omicron”, although cautioning it was too early to be sure. | Bloomberg

• Attention turns to the US CPI, which is expected to show its biggest annual advance in decades on the 10th, maintaining pressure on the Fed to push for faster policy tightening. | Bloomberg

• Oil rose after Saudi Arabia raised its oil prices; copper rises and nickel falls in London; iron ore advances with the market evaluating the margins of steelmakers and restrictions in China. | Bloomberg

For previous Snippets check < Financial Markets> in Beyond the Law.News

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