Home Economy GLOBAL MARKETS-Stocks rally, dollar gains as Omicron fears ease

GLOBAL MARKETS-Stocks rally, dollar gains as Omicron fears ease

7

(Adds oil, gold settlement prices)

* Investor sentiment rebounds as Omicron fears recede

* China central bank cuts reserve requirement ratio

* U.S. CPI seen sealing case for early Fed taper

By Herbert Lash

NEW YORK, Dec 6 (Reuters) – The dollar edged higher while U.S. and European shares rallied on Monday after reassuring news about the Omicron COVID-19 variant led investors to buy stocks that will likely perform well in a rising interest rate environment.

Yields on U.S. government debt rose, with the benchmark U.S. 10-year Treasury yield briefly climbing back above 1.4% after sliding last week to its lowest level since late September.

Gold prices eased on the firmer dollar and rising Treasury yields, but losses were limited by expectations that U.S. consumer price data due later this week will show the pace of inflation quickening.

Stocks on Wall Street were a sea of green as economically-sensitive value stocks, led by banks and energy shares, rose 1.96%…

Click here for full article…finance.yahoo.com