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In our special Christmas insight, Prosperity Investment Management examines the latest developments across the globe's biggest financial markets - providing you with all the latest information you need to know ahead of the festive period.
As Christmas approaches, new studies into the Omicron variant of COVID-19 offer early glimmers of hope that it causes a milder illness than initially thought, providing markets with a welcome boost entering the festive period.
In the US, stocks rebounded from last week’s losses in response to the news whilst some signs also indicated that hopes remained for the White House’s fiscal stimulus plan. Reports surfaced that Senator Manchin and the White House had been very close to reaching a deal, and the president and top Democratic congressional leaders stated that they would continue working to secure Manchin’s swing vote.
Despite the new information on Omicron, many European nations continue to air on the side of caution - introducing new restrictions to stem the rising numbers of infection.
In the UK, plans differ between the devolved nations as Scotland, Wales and Northern Ireland all move to bring in restrictions from Boxing Day whilst Prime Minister Boris Johnson has, for the time being, refused to introduce measures in England.
