Before the Bell | Stock futures, oil drop on concerns over covid strain

Moomoo Breakfast US wrote a column · Nov 26, 2021 05:04

By Danilo

Hey, mooers! Here are things you need to know before the opening bell:

- U.S. stock futures dropped in early morning trading on Friday as investors geared up for a shortened trading day amid renewed Covid fears over a new variant found in South Africa.

- Shares of Malaysia glove stocks rose sharply on renewed buying interest after a new, fast-spreading coronavirus variant was found in South Africa.

Market Snapshot

U.S. stock futures dropped in early morning trading on Friday as investors geared up for a shortened trading day amid renewed Covid fears over a new variant found in South Africa.

Futures for the $Dow Jones Industrial Average(.DJI.US)$ fell 828 points, while those for the $S&P 500 Index(.SPX.US)$ and $NASDAQ 100 Index(.NDX.US)$ were also in in negative territory.

Source: Bloomberg

Market Temperature

Before the Bell | Stock futures, oil drop on concerns over covid strain

Stock futures, oil drop on concerns over covid strain
U.S. stock futures and international equity markets fell after South Africa warned about a new strain of the coronavirus, triggering concern about the potential for travel restrictions or other curbs. Oil prices and Treasury yields also declined.

Another reason inflation may be here to stay
Rent rises that haven't yet been measured will filter through to higher services inflation in coming months.

Antitrust tech bills gain bipartisan momentum in senate
Support for curbing large technology companies' market power is widening in the Senate, with lawmakers in both parties endorsing new legal constraints on search engines, e-marketplaces, app stores and other online platforms.

When will shortages end? here's why forecasts are often wrong
Bottlenecks could finally be easing, but investors should remember that individual companies tend to underestimate the scope of global supply-chain problems.

Micron, UMC reach settlement in IP theft case
U.S. memory-chip maker $Micron Technology(MU.US)$ and Taiwan's $United Microelectronics(UMC.US)$ have reached a global settlement related to Micron's allegations of intellectual property theft.

Uber CFO focuses on revenue growth after profitability milestone
Nelson Chai said the company wants to keep improving adjusted Ebitda but long-term growth is "the real focus point." $Uber Technologies(UBER.US)$

New covid-19 variant drives rally in Malaysia glove stocks
Shares of Malaysia glove stocks rose sharply on renewed buying interest after a new, fast-spreading coronavirus variant was found in South Africa.

Read More

Bull Session | Did you receive any Thanksgiving gifts?

Which stocks have the highest dividends in Dow Jones index?

Stock funds took in more cash in 2021 than two decades combined

Small investors keep piling into flashy growth stocks

E-commerce needs real store locations now more than ever

Key Events This Week