US stock futures rise after Friday’s omicron-induced sell-off

U.S. stock futures rose late Sunday, following a sharp sell-off on Friday sparked by concerns about the global economic impact of a worrying new strain of COVID-19.

Dow Jones Industrial Average Futures
+ 0.38%

up about 165 points, or 0.5%, as of 6:35 p.m. ET. S&P 500 futures
+ 0.64%

and Nasdaq-100 futures
+ 0.82%

also showed a solid increase.

Crude oil futures prices also recovered on Sunday from Friday’s plunge, with US crude benchmarks
+ 4.67%

and Brent crude oil
+ 3.95%
international standards, are leaping forward.

On Friday, Wall Street experiences its worst day in over a year amid growing concerns about the novel omicron variant of COVID-19. The World Health Organization’s technical advisory group on Friday declared it a “worrying variant” and that several countries have imposed flight bans from countries in southern Africa, where the virus has spread. was discovered for the first time.

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

Read: US health officials call for caution, but not panic, for the omicron . variant

In a short holiday session, the Dow Jones Industrial Average

fell 905.04 points, or 2.5%, to 34,899.34, with the index recording its worst daily drop since October 28, 2020, according to FactSet data. S&P 500

fell 106.84 points, or 2.3%, to 4,594.62, and the Nasdaq Composite

down 353.57 points, or 2.2%, to 15,491.66.

“Pandemic and COVID variants remain among the biggest risks to the market and are likely to continue to cause volatility over the coming year(s),” said Keith Lerner, co-head of investment and market strategist at Truist Advisory Services, wrote in a note Friday. “It is difficult to say at this point how this latest variation will have an impact or long-term impact on the markets.” US stock futures rise after Friday’s omicron-induced sell-off


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