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Corona’s biggest threat… Hope to end the pandemic Why Cho Jae-gil’s Global Market Now

The major indices of the New York Stock Exchange closed mixed on the 28th (local time). Omicron mutations are spreading at a faster rate than in the past, but fears have been much lessened. It is also speculated that Omicron will push out the more lethal delta mutations.

The leading index, the S&P 500, finished trading at 4,786.35, down 0.10% from the previous day, the Nasdaq Composite down 0.56% to 15,781.72, and the Dow Coming up 0.26% to 36,398.21, respectively.

The S&P 500 and Nasdaq Composites turned downward for the first time in five trading days, but the Dow continued its upward trend.

As of the previous day, the number of new COVID-19 cases worldwide exceeded 1.44 million. This is an all-time high. It also broke the 550,000 mark, a record high in the United States. You confirmed the power of Omicron mutation once again.

Researchers from South Africa have published a study that found that “infection with omicron mutation increases the preventive effect against omicron as well as delta mutation at the same time.”

Omicron mutation is not a major bad news, but rather can act as a ‘blessing’. It is understood that the fatality rate of the omicron mutation is significantly weaker than that of the delta mutation. Experts see the best-case scenario at this point as a pandemic (pandemic) turning into an endemic (endemic).

U.S. health officials have relaxed quarantine guidelines. The Centers for Disease Control and Prevention (CDC) has issued new guidelines to lower the quarantine period for asymptomatic COVID-19 patients from 10 days to 5 days. It is predicted that the manpower shortage in airline retail chains will be somewhat alleviated.

The Federal Bank of Richmond’s Factory Activity Index, which shows manufacturing activity, fell to 16 this month. It was higher than the market expected (12).

As fears of Omicron eased, stock prices of pharmaceutical companies such as Moderne and Pfizer all weakened.

International oil prices rose. On the New York Mercantile Exchange, the price of West Texas Intermediate (WTI) for February next year jumped 0.5% from the previous day, moving around $76 a barrel.

Expectations for crude oil demand have been revived ahead of the OPEC+ oil ministers meeting on January 4 next year.

photo = AP

Today’s ‘Global Market Now’ issues are as follows.

① “You must sell this stock” ② Whales are throwing cryptocurrencies ③ Financial hardliners Raskin, Fed Supervisory Vice-Chairman? ④ US house price overheating shows signs of calming down ⑤ Omicron ratio error… It’s still like a delta rampage.

More details can be found on Hankyung Global Market YouTube and Hankyung.com broadcasts.

New York = Correspondent Jo Jae-gil [email protected]

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