U.S. Stock Futures Are Higher As Data On Omicron's Severity Has Been Limited #OmicronVariant #Cryptocurrency #Evergrande
U.S. stock futures are higher. Equity markets are expected to open positive as the first data on omicron variant’s severity has been limited. Therefore encouraging, but any definitive statements are weeks away as the medical community scrutinizes preliminary patient information. Yields on the 10y & 30y treasury rates are up this morning after precipitously declining last week and global energy prices are steady. Friday’s unemployment rate of 4.2% reflects a healthy job market and the Fed is expected to remain on course for its tapering and eventually increasing interest rates in 2022. Cryptocurrency, as measured by Bitcoin, is up slightly above $48k from Saturday’s low of $42k. European markets are trading higher. Asian markets closed mixed. Evergrande shares declined 20% after it warned investors about a potential default on its dollar bonds and is continuing to sell assets to raise capital and service debt.