Equity Market Weekly Outlook

29 Nov, 2021
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  • As pandemic and different variants remain one of the biggest risks to markets and cause of high volatility, South African new B.1.1.529 Covid variant already known as Omicron tumbled major averages by 3% on Black Friday
  • The emergence of the Omicron Covid variant has panicked investors and caused a dramatic plunge to the price of bitcoin, the biggest cryptocurrency
  • Oil Price increased more than 50% year to date. Combined with supply chain issues energy prices all around the world has been raising sharply. But OMICRON has brought -10% hit for oil price
  • President Biden renominated Jerome Powel as Fed Chair on 22nd of November. Even though, Powel being one of the dovish members of FOMC, market received reappointment as positive news Macro Update S&P 500 Performance YTD Weekly Sector
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