10-Year T-Note Futures Market News and Commentary
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The S&P 500 Index ($SPX) (SPY) on Monday closed up +1.17%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.87%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.85%.
Stock indexes on Monday posted moderate gains on an easing of omicron concerns. The most recent data from South Africa shows that South African health authorities have not reported a surge in deaths or hospitalizations from the variant, bolstering speculation that the omicron Covid variant is not as severe as feared. Stocks also garnered support Monday after the PBOC boosted liquidity by cutting the reserve requirement ratio for most banks.
The People's Bank of China (PBOC) on Monday cut the reserve requirement ratio for most banks by -0.50 points to 11.50%, effective Dec 15, which will boost liquidity by 1.2 trillion yuan ($188 billion).
Seventeen U.S. states have reported cases of the omicron Covid variant, and the 7-day average of new U.S. Covid infectio... Read more