Global stocks rise ahead of US jobs data; oil prices climb – business live | Business

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Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Stock markets have been on a rollercoaster this week, as investors are trying to figure out what the new Covid variant Omicron means for the pandemic, and markets going forward.

US stocks rebounded on Wall Street yesterday on expectations that Omicron is more contagious but less deadly (after the WHO said early indications are most cases are mild), but volatility remains high. The Dow Jones closed 1.8% higher, the S&P 500 up 1.4% and the Nasdaq gaining 0.8%. Meanwhile Asian indices are mixed: Hong Kong’s Hang Seng is 0.4% lower while Japan’s Nikkei has gained 1% and the Shanghai composite index is also up nearly 1%.

European markets are set to open higher, and the pan-European Stoxx 600 is still on track for a modest weekly gain despite a rocky week.

Oil prices are climbing, extending yesterday’s gains after the Opec…

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