Markets flat after strong rise so far this month

Markets flat after strong rise so far this month

After a strong rise this month markets were flat to slightly lower on Wednesday. Major Asian markets were closed for holidays.

Investors will be taking on board comments from US Fed Chairman Jerome Powell who said Wednesday that the central bank will be “patiently accommodative” and that employment is “a long way” from where it needs to be. The Fed is unlikely to “even think about withdrawing policy support” in the near term.

The first conversation between Joe Biden and Chinese leader Xi Jinping took place on Wednesday. The US President raised his concerns about China’s “coercive and unfair economic practices” and human rights violations.

In a busy week for earnings reports, Astrazeneca reported a 12% rise in sales for the fourth-quarter. On Wednesday the World Health Organization recommended AstraZeneca’s vaccine for all adults. Some countries have been ruling out its use on those over sixty five based on previous data.

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