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JPMorgan Says Omicron Won’t Stop the Global Equities Rally

  • Strategists expect post-Covid normalization to assert itself
  • See 9% upside for S&P 500 by end-2022; 17% for Eurozone stocks
Updated on

Omicron won’t derail the rally for global stocks, according to JPMorgan Chase & Co. strategists, adding another voice to the tone of cautious optimism in the market after the recent sharp pullback.

“Sporadic setbacks,” such as the emergence of omicron should be viewed “in the context of higher natural and vaccine-acquired immunity, significantly lower mortality, and new antiviral treatments,” strategists led by Dubravko Lakos-Bujas and Mislav Matejka wrote in a note. “We expect post-Covid normalization to continue to assert itself globally in 2022,” they said.