US Equity Futures Rise After Friday’s Omicron Triggered Mass Sell – .

US Equity Futures Rise After Friday’s Omicron Triggered Mass Sell – .

U.S. equity futures rose on Sunday night, after a sharp drop on Friday triggered by fears of the global economic impact of a disturbing new strain of COVID-19.

Dow Jones Industrial Average YM00 futures contracts,
gained about 165 points, or 0.5%, as of 6:35 p.m. EST. S&P 500 ES00 futures contracts,
and Nasdaq-100 NQ00 futures contracts,
also showed solid gains.

Crude oil futures also rebounded on Sunday after falling on Friday, with benchmark US crude CLF22,

and Brent BRNF22 crude,

the international benchmark, show jumping.

Wall Street had its worst day in more than a year on Friday amid growing concerns over the new omicron variant of COVID-19. The World Health Organization’s technical advisory group said on Friday it was a “variant of concern” and a number of countries have imposed flight bans from countries in southern Africa, where the variant was discovered for the first time.

Little is known about omicron, but investors braced for some bad news on Friday.

Read: US health officials urge caution, but not panic, on omicron variant

During a session cut short by the holidays, the Dow Jones Industrial Average DJIA,
fell 905.04 points, or 2.5%, to 34,899.34, with the index recording its worst daily decline since October 28, 2020, according to FactSet data. The S&P 500 SPX,
fell 106.84 points, or 2.3%, to 4,594.62, and the Nasdaq Composite Index COMP,
lost 353.57 points, or 2.2%, to 15,491.66.

“The pandemic and the COVID variants remain one of the biggest risks to the markets, and are likely to continue to inject volatility over the next several years,” wrote Keith Lerner, co-chief investment officer and chief strategist contracts at Truist Advisory Services. in a Friday note. “It is difficult to say at this stage to what extent this last variant will be sustainable or impactful for the markets. “


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