- In the first trading day of 2022, US equity futures rose while European markets set a new high. The price of oil rose as Libyan supply tightened ahead of an OPEC+ summit.
- Volumes were modest elsewhere, with markets such as the United Kingdom, Japan, and China closed for the holidays. Futures on the S&P 500 increased by 0.7%, while the STOXX 600 in Europe increased by 0.6%. Property shares fell in Hong Kong, and China Evergrande halted trading.
- All eyes are on the omicron variety of COVID, which is fast spreading but appears to be less severe than some earlier variations based on hospitalization rates. Investors are also paying attention to the Federal Reserve's and other central banks' policy paths through 2022, particularly as inflation remains a concern.
- OPEC expects a tighter first quarter as it examines the next increase in oil production.
- The proposed 400,000 BPD increase will be implemented in February - Three OPEC+ Sources
- Earlier today, a drone attack struck the US base at Baghdad International Airport. - Kurdistan24