Stock futures were lower in early morning trading Monday as investors continued to grapple with the resurgence of Covid cases and an upcoming shift in the Federal Reserve’s easy monetary policy.
Looking to grab buys at nyse to our sell zone, there we will look to sell to 15300.
The omicron variant is raging across the world as the winter holiday season approaches. The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, the World Health Organization (WHO) said on Saturday.
U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to CDC data.
The move in futures is “reflecting growing uncertainty surrounding whether the Omicron surge will bring new widespread economic shutdowns, an unexpected shelving of additional fiscal stimulus from President Biden’s Build Back Better plan, and a breach by the S&P 500 index of its 50-day moving average,” said Jim Paulsen, chief investment strategist at the Leuthold Group.
The 10-year Treasury yield backed off to below 1.40% on fears omicron would slow the economic recovery down, while keeping inflation high.
Looking to grab buys at nyse to our sell zone, there we will look to sell to 15300.
The omicron variant is raging across the world as the winter holiday season approaches. The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to 3 days in areas with community transmission, the World Health Organization (WHO) said on Saturday.
U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to CDC data.
The move in futures is “reflecting growing uncertainty surrounding whether the Omicron surge will bring new widespread economic shutdowns, an unexpected shelving of additional fiscal stimulus from President Biden’s Build Back Better plan, and a breach by the S&P 500 index of its 50-day moving average,” said Jim Paulsen, chief investment strategist at the Leuthold Group.
The 10-year Treasury yield backed off to below 1.40% on fears omicron would slow the economic recovery down, while keeping inflation high.