Stocks Mixed After Wall Street Record
Investors continue to evaluate Omicron; Dow industrials, oil prices rise
By Sebastian Pellejero & Anna Hirtenstein
Updated Dec. 28, 2021
Quoted: David R. Kotok
Governments and policy advisers are showing signs of taking a lighter touch with policies regarding the rapidly spreading Omicron variant, reducing quarantine times and in some instances forgoing social-distancing restrictions as they try to keep economies moving.
Cutting quarantine times is bullish for investors and prompting market participants to look beyond the Omicron surge, said David Kotok, chief investment officer at Cumberland Advisors. But it also risks allowing the Covid-19 virus to mutate, spread and disrupt economies, he added. He is overweight healthcare stocks.
“This ain’t over, and markets want to celebrate it being over. But the virus doesn’t care about markets want,” Mr. Kotok said.
Read the full article at the WSJ website (paywall): https://www.wsj.com/articles/global-stock-markets-dow-update-12-28-2021-11640680761
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