Santa comes on a roller coaster this year! | MarketTalk: What’s up today? | Swissquote

European and US markets rebounded yesterday, as investors shrugged off the worries of omicron, while of course, the news flow is far from ideal. Nasdaq jumped almost 2.50% due to a renewed optimism, while the S&P500 closed the session 1.80% higher. Oil rallied 4%. Plus, the US Food and Drug Administration will likely authorize a Covid pill from Pfizer and Merck that would treat Covid-19, and that could be another brake to the pandemic and maybe a new milestone in humanity’s fight against Covid. Of course, the thinning holiday volumes and the rising volatility is partly responsible for the strong jump in equity prices, as the moves are exacerbated by low liquidities. But the same would be true for the downside corrections. In this context, any price pullback would also be bigger than the normal times. Investors should remain cautious with big ups and downs into the Xmas break, as the tighter Federal Reserve (Fed) pricing remains in play. The EURUSD remains under the pressure of a broadly stronger US dollar, but the Turkish lira consolidates gains. Bitcoin has just traded above its December descending channel top but the appetite remains fragile. Watch the full episode to find out more!