Markets rallied for no particular reason today with the ASX up 0.66%. The market drifted higher in thin trade boosted by gains across every sector except materials. REITs led the way with a 2% gain. However, the big miners came under some pressure after Chinese iron ore futures fell sharply. Investors are continuing to assess concerns around a new virus variant, shutting cities as large as London down for Christmas. S&P futures recovering after steep falls earlier in the day after word came through that Trump would refuse to sign the bill to release the $900 million stimulus package.

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