It seems that after the Christmas break American investors returned to the market in an excellent mood. Purchases of shares of companies included in the S&P 500 translated on Monday into a new all-time record of this index, already the 69th record this year.
The optimistic attitude of U.S. investors and increases in U.S. stock markets may be related to the relatively mild impact of the omicron on the country's operations. It seems that the new strain of the virus will not hamper economic growth. Moreover, the quarantine period in the US has been reduced from 10 to 5 days of home isolation.
Worse for airline stocks
Among other reasons, the Dow Jones was able to rise 352 points, remaining just 0.4 percent from its record high, the S&P 500 rose 1.4 percent, extending gains to a new record high at 4,800 points, and the Nasdaq Composite rose 1.4 percent, reaching its highest level since mid-November.
Shares of technology and energy companies seemed to be gaining, while airline and cruise ship stocks were under pressure after thousands of flights in the US were cancelled over the weekend due to crew member infections.
The U.S. stock market, apparently, seems unconcerned about changes in the Federal Reserve's approach to monetary policy, the end of its asset purchase program or possible interest rate hikes in 2022.
Gold and silver on an upward wave
Interestingly, at the same time as the US indices were rising, gold and silver also seemed to be gaining in value. The price of silver rose above $23 per ounce and was at its highest level in four weeks this morning. An ounce of gold costs $1,815 and is the most expensive in over a month.
Bullion and stocks are rising with relatively little change in EUR/USD, which seems to be consolidating at the level of 1.1320.
Daniel Kostecki, Director of the Polish branch of Conotoxia Ltd. (Forex service)
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