On Monday, global stock markets gained and oil prices fell as investors cheered for a good holiday season sales in the United States and some investors were less concerned about the Omicron variant causing economic harm.
Concerns about the pandemic, that could harm economic development, drove gold prices to their highest in more than a week.
According to a Mastercard Inc poll, holiday season retail sales in the United States increased significantly. This boosted investor confidence, boosting Wall Street and rising the global market index by 0.87 percent. Earlier loss in Asian markets was offset by advances in Europe.
Even while the pandemic has forced US airlines to cancel or postpone thousands of flights due to staff shortages and numerous cruise ships have had to cancel stops due to COVID-19 outbreaks aboard, some investors are optimistic that the worldwide recovery will pick up next year.
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