Sujata Rao gives a glimpse at what lies ahead.

On Monday, tech shares were not lifted by a significant flattening U.S yield curve. Longer-dated borrowing cost fell and the U.S yield curve was in decline. As the Omicron COVID variation gained steam, consumers staples, pharmaceuticals and other defenses were able to benefit, which in turn slowed Apple’s (NASDAQ:), $3 trillion market capitalisation.

Wall Street futures point higher with Apple’s Frankfurt-listed shares rising almost 1%. Tuesday could be the day that the milestone is reached.

However, market movements will be largely unpredictable after a week filled with data, central bank meetings, and expectation of hawkish policies turns.

The Bank of England’s quandary — whether to raise or not — isn’t going away. It was November’s largest payrolls rise since records were started by the tax office in 2014. This is a sign that the labour market has resisted the removal of furlough schemes.

Ocado online (LON:), also offered a glimpse of the UK job market, with a 3.9% decline in quarterly sales. This was due to labour shortages.

The spread of Omicron may have triggered work-from-home advice, and other restrictions. However, the BoE could choose to fire Thursday.

You can also monitor the U.S. factory gates prices, which will be a good indicator for CPI. They are available later. According to polls, the November PPI, which was below 2% in January, will reach 9%.

These data are unlikely to change the belief that the Federal Reserve will speed up its stimulus tapering. The Federal Reserve will also begin its two-day meeting Tuesday.

This will keep the equity futures at higher levels and keeps the rate hikes in place for another week. Let’s now focus on emerging markets. Rate hikes continue unabated in these countries. Hungary will likely raise rates 30 basis points, while Chile could increase them by up to 125 bps. (Graphic: Apple, https://fingfx.thomsonreuters.com/gfx/mkt/znvnexqbypl/Pasted%20image%201639431347480.png)

There are key developments which should give more direction to the markets Tuesday

OPEC is positive about oil demand in 2022, Omicron says.

Shares in Tesla sold by Musk (NASDAQ:) for $906.5 Million

-Euro zone industrial production November

Germany’s Ifo Institute economic outlook

-Europe earnings: Ocado, Purple Bricks