Wall Street rallied in trading (23/12), marked by the S&P 500 index closing at a new record high. Investors got a breath of fresh air from various early data indicating that Omicron is no more dangerous than the previous Covid-19 variants. Meanwhile, weekly jobless claims data was reported at its lowest level of 205K.

Domestically, JCI was able to rise 0.4% to 6,555; led by the Industrial sector which rose by 1.14%. Developments regarding the Omicron variant and the granting of emergency permits for Pfizer’s Covid-19 drugs have given energy to the stock market ahead of the Christmas period. Towards the end of the week, the movement of the benchmark index has the potential to strengthen again inthe range of 6,500-6,620.

Download full report HERE.