Keep an eye on OPEC: 5 key issues this Thursday on the stock market

  • Economy News
Keep an eye on OPEC: 5 key issues this Thursday on the stock market
Credit: © Reuters.

By Laura Sanchez - Experts warn that the new Omicron variant may interfere with the plans of governments and central banks.

There is a meeting of the Organization of the Petroleum Exporting Countries (OPEC) today.

Crypto is trading mixed.

Here are the five factors’ investors should consider when making their decisions today:

1. Can Omicron change the plans of governments and central banks?

Ursula von der Leyen, president of the European Commission (EC), has said that the Omicron variant is a threat to Europe. Moreover, the first case has already been detected in the United States.

The OECD sees the new variant as aggravating the risks to economic development and insists that the priority must be to accelerate vaccination campaigns worldwide.

Countries are implementing new restrictions as the virus spreads, which could put a brake on the economy as the Christmas season gets underway.

2. OPEC meeting

This Thursday, investors will be watching the OPEC meeting at a time of heightened volatility in oil prices because of the new Omicron variant.

3. Cryptocurrencies mixed against Omicron

Volatility is not only affecting equity markets, but also the cryptocurrency sector. Some assets are recovering positions while others are not advancing at such a fast pace.

4. Asia and the American stock market

The main Asian indices are mixed today. The Nikkei fell 0.4%, Hong Kong's Hang Seng gained 0.1% and the Shanghai Composite lost 0.1%.

On Wall Street, the market ended yesterday in the red. The S&P 500 (-1.1%), Nasdaq (-1.8%) and Dow Jones (-1.3%) closed lower.

5. Macroeconomic data

Among the main macroeconomic references of the day, the unemployment change in Spain , the monthly unemployment rate in Italy and the unemployment rate in the Euro zone stand out.

In the US, we will know the new jobless claims and several members of the FOMC will speak.

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