US Market Daily: 3 things to know before the US market opens on Monday
The US market is entering the final week of calendar year 2021, which has been one of the best in history. The S&P 500 has closed at a record high 68 times this year, the most since the year 1995. We take a look at what factors could guide the markets during the day.
Top 5 gaining stocks (S&P 500) in the previous session
|NAME||Previous close (in Rs)||Gain (%)|
U.S. Travel Stocks Drop in Premarket on Christmas Cancellations
U.S. travel stocks retreated in premarket trading on Monday, led by United Airlines Holdings Inc., after hundreds of flights were canceled over Christmas due to a spike in Covid-19 cases.United sank 2.9% at 4:45 a.m. in New York, while Delta Air Lines Inc. lost 2% and American Airlines Group Inc. dropped 2.1%. Among cruise-ship operators, Carnival Corp. declined 2.3%, Royal Caribbean Cruises Ltd. retreated 1.6% and Norwegian Cruise Line Holdings Ltd. fell 1.9%.
U.S. flight cancellations exceeded 2,800 over the Christmas weekend, disrupting travel on one of the busiest periods of the year as the omicron-fueled Covid-19 wave triggered air-crew shortages
China proposes tighter rules but no ban for offshore listings
China's securities watchdog on Friday proposed tightening rules governing Chinese companies listing abroad, which it said would improve oversight while allowing them to continue to do so, the latest in a spate of regulatory moves by Beijing in 2021
The draft rules, which had been keenly awaited by investors and were posted by the China Securities Regulatory Commission (CSRC) on its website, extend the CSRC's oversight of offshore listings to Chinese firms with variable interest entity (VIE) structures.
China’s monetary policy in contrast with the Federal Reserve
China’s possible policy easing contrasts with steps by the Federal Reserve and other central banks to fight inflation by cutting stimulus. The outlook for monetary policy, Covid and company earnings are shaping views on whether global stocks can keep rising after nearly doubling from pandemic lows. It would be interesting to watch the market movement today.