Market Update

The table provided shows that global equity markets experienced an uplifting week and a favorable end to the year, even with a significant rise in COVID-19 cases.
This upbeat sentiment was bolstered by evidence indicating the omicron variant might be less severe than its predecessors. If this holds true, it could not only reduce the chances of stringent lockdowns and widespread disturbances but also signal the winding down of the uncertainty that has overshadowed the past couple of years.
Nevertheless, as one might anticipate, stocks in the travel and leisure sector didn't resonate with this overall positive trend. To illustrate, IAG, which owns British Airways, concluded the week with a dip of 2.84%. Similarly, easyJet witnessed a decrease of 1.24%, Carnival Cruises fell by 5.39%, and TUI, the tour operator, dropped by 6.51%.
As we transition to the upcoming week, our focus will be on the minutes from the recent Fed monetary policy gathering on 15 December 2021. Additionally, we'll keep an eye on US ISM figures, US factory orders, US employment metrics—including non-farm payrolls, unemployment rate, participation rate, and average earnings—along with Eurozone CPI inflation and China's PMI.