The uncertainty makes December particularly important, says Ryan Kelley, chief investment officer of Hennessy Funds. “December really sets us up for next year, and how things play out will let us know how we’re doing coming out of this crisis,” notes Kelley.
To begin the month, expect the stock market’s daily swings to be at the whim of market participants who are trying to make sense of how the omicron variant could derail the reopening of the economy. But the Fed’s meeting mid-month and economic reports, particularly those focused on consumers, may once again steal the spotlight.It’s been almost two years since the first case of the novel coronavirus was detected in the U.S., and investors are worried anew about the omicron variant.
This wait-and-see mentality may apply to learning more about the variant and how various major global economies will respond in terms of restrictions—but markets are impatient. Omicron fears have already rattled, as the S&P 500 tumbled just over 2% on Nov. 26, the day since the variant was classed one of concern by the World Health Organization , marking its biggest slump since February.
“Per usual, changes happen quickly when there’s a new variant that comes out,” Kelley says. Global economies are still in the reopening phase, and omicron could be a setback that makes existing supply chain issues worse, he adds. “It’s not to be underestimated.”isn’t underestimating omicron’s potential, it appears undeterred in its plan to taper bond purchases—and even speed up this effort.
Advisor This is like the biggest opportunity I had in making money from the comfort of the home, gratitude to Geoffreypreud this is really amazing..... I'm counting the racks like never before about $15,800. I think my job is actually a waste of time. Thank you Mr Geoffrey send a DM
Advisor I don't want to see Santa wearing a mask...period.
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