Stock markets dipped on Friday in thin trading but were set to see in the New Year with double-digit gains for 2021, while oil prices retreated from $80 a barrel following their biggest annual rise since 2009.
The MSCI World Index
But after initially tumbling in December, stocks have recovered over the holiday period as investors became reassured economies could handle the surge in Omicron cases, and are heading back towards record highs. This year's "everything rally" has seen a wall of cheap central bank cash, government stimulus and strong economic rebounds out of the pandemic make it hard not to profit from soaring asset prices.
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