Equity futures rise after sale caused by the first U.S. Omicron incident

Date:

US stock index futures rose in early Thursday morning trading after the CDC confirmed the first known case of the Omicron variant in the United States and then fell on Wall Street on Wednesday.

Futures contracts related to the Dow Jones Industrial Average rose 245 points, or 0.72%. S & P 500 futures rose 0.87% and Nasdaq 100 futures rose 0.65%.

in the meantime Normal transaction The Dow on Wednesday fell by about 460 points, or 1.34%. Early in the session, the 30-stock benchmark rose 521 points, or 1.5%. S & P fell 1.18%, returning a previous rise of about 1.9%. The Nasdaq Composite fell 1.83% after a 1.8% rise in previous transactions.

Shares fluctuated from morning highs after Federal Reserve Chair Jerome Powell said he hoped policymakers would discuss the possibility of a faster taper schedule at this month’s meeting.

“At this point, the economy is very strong and inflationary pressures are higher, so I think it’s appropriate to consider summarizing the gradual asset purchases that were actually announced at the November meeting, perhaps a few months earlier. I’m thinking. “He said in Congressional testimony.” I look forward to discussing this at the next meeting. “

However, sales accelerated when the CDC confirmed that the Omicron variant had entered the United States. This is the first confirmed case in California.

“Investors are becoming more and more cautious about the Omicron variant and the potential for faster tapering,” TD Securities said in a note to its clients.

Travel-related stocks were particularly hit as investors feared that variants of Omicron could lead to more stringent travel requirements. Cruise companies, airlines and hotel stocks all finished their sessions bright red.

Wednesday’s whip saw stocks continue to fluctuate significantly as the market is digesting the implications of the new variant.

Edmoya, Oanda’s Senior Market Analyst, said: “In the coming weeks, we’ll see risk appetite gain clues from Omicron’s gradual updates, supply chain problems, and all inflation measurements,” he added.

In terms of data, the first unemployed billing number for each week will be announced Thursday at 8:30 am EST. Dow Jones estimates that economists expect 240,000 printed matter. NS Look-ahead The first filer was 199,000, the lowest since November 1969. The November job report will be released on Friday.

Thursday’s reading follows Wednesday’s better-than-expected ADP report. Private salary In November, it exceeded the expected 506,000 and increased by 534,000.

Most of the third quarter earnings season is over, but some companies are posting quarterly results. Dollar General, Kroger and Signet Jewelers will report Thursday before the opening bell. Ulta Beauty, Marvell Technology and Ollie’s Bargain Outlet are one of the names of the decks after the market was closed.

Equity futures rise after sale caused by the first U.S. Omicron incident

Source link Equity futures rise after sale caused by the first U.S. Omicron incident

The post Equity futures rise after sale caused by the first U.S. Omicron incident appeared first on Eminetra.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

Cardano: Here’s how far traders’ sentiments and updates can take ADA

According to a new Santiment report, Cardano has...

Swimmer dies at Thousand Steps Beach in Laguna Beach – Orange County Register

The body of an unidentified female swimmer was recovered...

Cardano Discloses Encouraging On-Chain Stats for September, Here’s Detailed Insight

Cardano reveals on-chain insights of September, stats are encouraging As...