5 things to know before the market opens on Monday

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Here are the most important news, trends and analysis investors need to start their trading day:

1. Wall Street poised to leap after Friday’s omicron plunge

The Dow Jones, after Friday’s plunge, was expected to rebound more than 300 points to start the week as investors watch the highly mutated variant of Covid omicron. The 30-stock average fell 905 points, or 2.5%, in Friday’s shortened post-holiday session in a global sell-off triggered by South Africa’s discovery of what the World Health Organization later called it a “worrying variant”. The S&P 500 fell 2.3% and the Nasdaq slipped 2.2%. The top three benchmarks were negative for the week.

  • After Friday’s sharp drop, the 10-year Treasury yield climbed over 1.55% on Monday.
  • US oil prices rose more than 6% to over $ 72 a barrel on Monday after falling 13% on Friday.
  • Bitcoin rose 4% to over $ 57,000 on Monday after falling to around $ 53,500 last week.

2. Fauci says US must be prepared to do anything to fight variant

White House chief medical adviser Dr Anthony Fauci said on Sunday Americans must be prepared to do “anything and everything” to fight omicron. The variant has several mutations in the spike protein that allows the virus to enter the body, and some of these mutations could lead to increased resistance and transmissibility of antibodies. However, Fauci said it would take about two weeks to have more definitive information on the transmissibility, severity and other characteristics of omicron. Fauci, America’s leading infectious disease expert, told TBEN’s “This Week” program that it was still “too early to say” whether blockages or new mandates would be appropriate.

3. America plans to restrict travel from South Africa and other countries

International travelers wearing personal protective equipment (PPE) arrive at Melbourne’s Tullamarine Airport on November 29, 2021 as Australia registers its first cases of the Omicron variant of Covid-19.

Guillaume West | TBEN | Getty Images

The WHO has urged countries around the world not to impose a flight ban on countries in southern Africa due to concerns over the omicron. The United States plans to restrict travel by non-U.S. Citizens from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The variant has been found in the UK, Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong. However, the omicron has not yet been found in America. Fearing further travel bans, airline shares were crushed on Friday. But they were bouncing higher in Monday’s pre-market trading, with the stocks’ broader strength.

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4. Moderna and Pfizer say omicron vaccine could be ready next year

The Moderna sign can be seen outside their headquarters in Cambridge, MA on March 11, 2021.

Boston Globe | Getty Images

Vaccine makers including Moderna, Pfizer and Johnson & Johnson have said they are studying omicron although it remains to be seen how the variant responds to current injections or whether new formulations are needed. Moderna said he could roll out a reformulated vaccine early next year. Pfizer could have a new omicron vaccine in less than 100 days, CEO Albert Bourla told TBEN on Monday. Moderna CEO Stéphane Bancel told TBEN on Monday that while the variant is likely to be present in most countries, travel restrictions can slow the spread and save lives.

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5. The following cyber Monday after Black Friday, traffic drops from pre-Covid levels

People shop at the Polaris Fashion Place Mall during Black Friday on November 26, 2021 in Columbus, Ohio.

Matthieu Hatcher | Getty Images

It is estimated that U.S. retailers will generate online sales of up to $ 11.3 billion on Cyber ​​Monday, a decline in growth from the previous year as fewer discounts and limited choices due to disruption to the market. the global supply chain deters buyers. Retail store traffic on Black Friday fell 28.3% from 2019, as Americans shifted their spending more online and started shopping earlier in the year, according to preliminary data from Sensormatic Solutions. However, Black Friday traffic increased by 47.5% compared to last year.

– The The Bharat Express News and Reuters contributed to this report. Follow all market actions like a pro on TBEN Pro. Get the latest pandemic news with TBEN’s coronavirus coverage.

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