U. S. stocks rose Thursday as investors ignored CDC considerations that identified a momentary case of the Omicron COVID-19 variant in a Minnesota man.
The man traveled to New York on Nov. 19 for a convention, reporting that the variant has likely been spreading across the country for weeks without being detected. There are still unanswered questions about the variant, adding how fatal and transmissible it is. and whether existing vaccines oppose it.
President Biden’s plans for a new economic shutdown circular to fight the new variant, and instead prioritize a vaccine buildup to protect Americans from the strain, are likely to refer to stockpiling on Thursday.
According to JPMorgan, investors deserve credit for the recent stock liquidation and purchase, as the Omicron variant may propel the end of the COVID-19 pandemic.
Apple fell 3% on Thursday after a Bloomberg report said Apple is experiencing a drop in demand for its iPhones this holiday season. Apple shares trimmed their losses and closed the day down 0. 40%.
The metaverse investment theme is growing in popularity, with Ark Invest’s Cathie Wood calling it a multi-trillion dollar opportunity that will infiltrate every sector.
Sales of virtual land on the metaverse reached $106 million last week, with the Sandbox platform taking a big advantage over NFT platforms.
Fidelity is launching its own spot bitcoin ETF in Canada this week, even though the SEC continues to favor only bitcoin futures ETFs.
West Texas Intermediate crude oil rose 2. 50% to $67. 21 a barrel, while Brent crude, the benchmark oil index, rose 2. 25% to $70. 42 a barrel.
Gold fell 0. 89% to $1,768. 00 an ounce.