A pedestrian looks at an electronic stock board displaying the Nikkei 225 Stock Average outside a securities firm in Tokyo, Japan. Picture: BLOOMBERG/KIYOSHI OTAStocks rose in choppy trade on Thursday as worries about the economic effect of the Omicron coronavirus variant ebbed but increasing caution ahead of US inflation data capped other risk assets such as oil and the Australian dollar.
S&P 500 futures were steady after a 0.3% rise in the cash index overnight carried it to within 1% of a new record high. On Wednesday, BioNTech and Pfizer said a three-shot course of their Covid-19 vaccine was able to neutralise the Omicron variant in a laboratory test. The pace of factory gate price rises in China slowed in November, data showed on Thursday, with the annual pace at a still whopping 12.9%, while inflation picked up to 2.3% year on year.The main scheduled event of the week is Friday’s US inflation data, seen as a prelude to the Fed’s December meeting next week.
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