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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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Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.