Omicron, Powell and tapering: 5 keys to Wednesday's stock market action

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Omicron, Powell and tapering: 5 keys to Wednesday's stock market action
Credit: © Reuters.

By Laura Sanchez

Investing.com - Stock markets continue to react to the new Omicron variant.

Crypto survives the debacle.

Today, Fed Chairman Jerome Powell and US Treasury Secretary Janet Yellen speak again.

Yesterday Powell suggested that the Fed might accelerate the pace of tapering.

These are the five factors that investors should consider when making their decisions today:

1. Can the Fed accelerate tapering?

Powell says the Fed will discuss accelerating the tapering of bond purchases at the December meeting.

Federal Reserve Chairman Jerome Powell indicated on Tuesday that the central bank may step up its efforts to boost the economy as it battles rising inflationary pressures.

Powell believes that slowing the pace of monthly bond purchases can move faster than the $15 billion a month schedule announced earlier this month.

2. Crypto survives Omicron

After last Friday's sharp falls, this week the cryptocurrency sector is slowly recovering and regaining positions.

3. Powell and Yellen speak again

This Tuesday, again at 16:00, Fed Chairman Jerome Powell and the US Treasury Secretary Janet Yellen will appear again.

4. Asia and the US stock market

Positive signs today on the main Asian indices. The Nikkei is up 0.6%, Hong Kong's Hang Seng is up 0.9% and the Shanghai Composite is up 0.1%.

On Wall Street, the market ended yesterday in red. The S&P 500 (-1.9%), Nasdaq (-1.5%) and Dow Jones (-1.8%) closed down.

5. Macro data

Among the main macroeconomic references of the day,  German retail sales , as well as the manufacturing PMIs from Spain , Italy , France , Germany , the UK and the Eurozone .

In the US, the PMI will also be released, as well as the ADP non-farm employment change and the IEA crude oil inventories .

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