European stocks hit record high, led by travel sector; Wizz Air up 12%

[OZER]

LONDON — European stocks hit a record high on Tuesday as the new year momentum continued in global markets.

The pan-European Stoxx 600 index closed 0.8% higher, having earlier reached an intraday record of 495.41. Most sectors and major bourses were in positive territory.

Airline and travel stocks were among the biggest gainers on the index, with the sector up 3.4%. Wizz Air led the gains, surging nearly 12%, while International Consolidated Airlines Group and TUI were also among the top performers.

Stocks that had benefited from stay-at-home restrictions were among the worst performers. Online grocery firm Ocado sank over 7% while Hellofresh was down 9%.

It comes after stocks in the region kicked off 2022 with a bang on Monday, as most major regional indexes were higher on the first trading day of the new year.

There is still much uncertainty around the Covid-19 pandemic, however, with multiple countries around the world reimposing restrictions or lockdowns to stop the spread of the highly contagious omicron variant.

Inflation and monetary policy will be key themes for 2022, as investors expect the U.S. Federal Reserve to hike rates in the coming year to help cool the rise in prices for consumers.

U.S. stocks were higher mixed, with the Dow Jones Industrial Average hitting a new record while the Nasdaq and S&P 500 sank, weighed down by tech shares. Meanwhile, Asia-Pacific equities closed mostly higher Tuesday, as data showed accelerating Chinese factory activity growth in December.

[Amirkwan]

Bloodbath in n market too.

[burgeon]

Ethereum is money

[borchers]

every crisis is a rearrangement of the participants, so instead of trying to control the situation the best thing is let the economy recover, the worst thing the government can do is to continue printing money

[ahward21]

them talking in crypto slang <3

[yesimmexican23]

Just gotta say that the idea that you shouldn't invest in companies that don't make money is so ridiculous it's crazy. Companies like Uber have never made money yet are seen as legitimate investments

[killerti]

The Philips curve does not model time lags in employment and inflation as we have seen in the last two recessionary cycles' effects.

[warlos]

Anyone tell her about Santa Clause? Should I?

[Matty242]

The entire economy due to what I got on the "BACKBURNERS"

[thimblerig]

Given out all the money to all those bums

[jtguidera]

Stellar sounds more like a marketing pitch

[xxkillcainxx]

It's amazing how Marxism explains a lot of this - and how the bourgoise technocrats have developed a language to track the critique laid out in Capital by Marx. Specifically, the critique that capitalism has boom and busts because labor prices are less than the value produced is a more correct way of saying what these people are describing the inverse, that labor increases lead to price increases (without questioning if owner income, rents, and interest revenues are lower)

[digdigger]

That's why Bill Gates bought so many lands.

[koh]

Official inflation figures are lies.  Real inflation is always more than double official Fed figures.  Anyone who goes shopping knows that.  Shrinkflation where less products for the same price is common.  Dollar store items are now $1.25, a 25% increase.  Most items people need for basic living like food, housing, heating and transportation are up and continuing higher.

[jackiscool]

first time? here in argentina we have 52% we had like 2000% inflation accumulated in 20 years