Global benchmarks are set to be buoyed on Tuesday after the US stock market surged to begin the week.
The Dow Jones and S&P 500 gained 1.9% and 1.2% respectively, and whilst the Nasdaq was weaker, up 0.9%, in comparison as the positive sentiment is expanding once again.
The driving news appeared to be signs that the Omicron variant is less severe than Delta, with no surge in hospitalisations yet.
Moderna falls
Whilst positive news for the world, it was negative for Moderna (NASDAQ: MRNA) and its virus treatment with shares falling over 13% on the news.
Alibaba surges
Shares in Alibaba (NYSE: BABA) are beginning to recover once again, after one of the founders and CFO, Maggie Wu, announced she would be stepping down to make room for new blood at the top. Alibaba shares surged over 10% on the news.
China loosens
Sticking with China, it appears the government is taking the opposite view of the rest of the world, with the central bank announcing a reduction in the ‘required reserve ratio’, being deposits that the bank must hold.
This is set to offer more flexibility for more growth in lending and credit, and potentially an acceleration of the economy.
Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is set to follow US markets higher at the open this morning. For a round-up of the latest news, check out my ASX 200 morning report.
