Stocks stabilize ahead of multiple central bank meetings this week

Equity markets across Europe (.GDAXI), (.FCHI) opened higher, with the pan-region STOXX 600 index last up 0.35% (.STOXX), while U.S. equity futures were around 0.25% firmer .

The more virulent Omicron variant remains a source of concern, with British Prime Minister Boris Johnson predicting a “tidal wave” of new instances of the coronavirus strain. Still, investors are banking on vaccines to mitigate the economic consequences.

This outlook helped increase oil prices by approximately 1%, while the dollar was relatively firm ahead of the Federal Reserve’s two-day meeting on Tuesday.

The Federal Reserve of the United States is widely expected to imply a speedier tapering of asset purchases and, as a result, an earlier start to rate hikes. It will also update the rate dot plots throughout the next few years.