New York, Monday, 27 June 2022
As investors continue to evaluate the outlook for monetary policy in the midst of indications of slowing growth and easing commodity prices, all three of the major US stock indexes increased by about 0.5 percent in early trading on Monday.
This is building on the momentum from last week's strong performance. Numerous economic indices, such as consumer confidence and global PMIs, indicated a slowdown in economic activity, which led to speculation that central banks could ease off on stimulus measures.
The decline in commodity prices, which is allaying concerns about sustained inflation, is also boosting the bullish outlook.
On the stock market, BioNTech gained more than 3 percent after the pharmaceutical company claimed that its Covid-19 booster, based on Omicron, enhances immunological response to that variety. On the other hand, Spirit Airlines had a roughly 6% decline following the company's announcement that it would accept the most recent purchase offer from Frontier Group.
Report by: The Decision Maker - Finance editors