Stocks rose in choppy trade as worries about the economic impact of the Omicron coronavirus variant ebbed but increasing caution ahead of U.S. inflation data capped other risk assets such as oil and the Australian dollar
Register now for FREE unlimited access to reuters.comS&P 500 futures were steady after a 0.3% rise in the cash index overnight carried it to within 1% of a new record high.
Market sentiment has also recovered with other pieces of preliminary data suggesting Omicron is less severe than first feared, though offsetting that has been the imposition of tougher restrictions in England to curb Omicron's spread.The Australian dollar is up 2.6% in three sessions and flat at $0.7166 in early trade on Thursday.
The pace of factory gate price rises in China slowed last month, data showed on Thursday, with the annual pace at a still whopping 12.9%, while inflation picked up to 2.3% year-on-year.The main scheduled event of the week is Friday's U.S. inflation data, seen as a prelude to the Fed's December meeting next week.
"A 7 as the big figure may be good for the dollar bulls and get 2-year Treasury yields pumping higher," said Chris Weston, head of research at broker Pepperstone.
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