FAST FIVE: Stocks Soar On Optimism Omicron Is A Dud As Traders Focus On Growing China Stimulus

Published by on

Stocks Soar On Optimism Omicron Is A Dud As Traders Focus On Growing China Stimulus US index futures rallied, led by gains for Nasdaq 100 contracts, amid waning omicron worries and a booster shot of Chinese stimulus lifted world stock markets and oil on Tuesday and left traders offloading safe-haven currencies and bonds for the second day in a row.

Emini S&P futures were up 61 point to 4,650.75 or about 120 points higher then where Gartman said “stocks are headed lower” some 24 hours ago.

Alibaba jumped as much as 5.4% in US premarket trading Tuesday, adding to a 10% rally on Monday as with Chinese tech stocks rebound.

(+0.2%) were both initially lifted in early trade after the announcement of the PBoC's RRR cut, which is said to likely calm markets amid increasing developer risks, although the mainland bourse then gave back its gains after the PBoC continued to drain liquidity in its daily open market operations.

Aside from that, the morning's newsflow has been on the quiet side, with the macro environment currently dictating price action.

Categories: ZH