Before the Bell | Moderna's concerns about Omicron outlook spark market slump

Moomoo Breakfast US wrote a column · Nov 30, 2021 19:17

By Danilo

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

- Stock futures tumbled in early Tuesday trading, reversing from a rebound on Wall Street as investors reassessed risks associated with the new omicron Covid variant.

- The social-media company Twitter said CTO Parag Agrawal would take the reins effective immediately.

Market Snapshot

Stock futures tumbled in early Tuesday trading, reversing from a rebound on Wall Street as investors reassessed risks associated with the new omicron Covid variant.

Futures on the $Dow Jones Industrial Average (.DJI.US)$ dropped 422 points. $S&P 500 Index (.SPX.US)$ futures tumbled 0.96% and $NASDAQ 100 Index (.NDX.US)$ futures also slid into negative territory.

Source: Bloomberg

Market Temperature

Before the Bell | Moderna's concerns about Omicron outlook spark market slump

Stock futures slide as Moderna CEO cautions on Omicron
U.S. stock futures have tumbled anew after Moderna's chief executive officer Stéphane Bancel predicted that current vaccines would be less effective against the new omicron variant of Covid.

Cyber Monday sales flat as smaller savings curb incentive to spend
Shoppers spent $7.1 billion online as of 9 p.m. eastern time in the U.S., according to transaction data compiled by the Adobe Digital Economy Index.

SEC issues new guidance on measuring cost of 'spring-loaded' awards
The practice of granting stock awards shortly before announcing market-moving news merits 'particular scrutiny' from executives, the regulator said.

CDC says everyone 18 and older should get covid-19 booster
The agency strengthened its recommendation as a result of the risk posed by the Omicron variant recently discovered.

FTC asks Amazon, Walmart for information on supply-chain issues
The Federal Trade Commission said that it is conducting a study on supply-chain problems and shortages, as part of a study into whether the problems have led to anticompetitive behavior and higher prices. $Amazon (AMZN.US)$ $Walmart (WMT.US)$

Lululemon hits back at Peloton, sues over allegedly copied designs
The athletic-apparel maker $Lululemon Athletica (LULU.US)$ says new $Peloton Interactive (PTON.US)$ items are knockoffs, after Peloton last week asked a court to declare it didn't infringe on designs.

Jack Dorsey steps down as CEO of Twitter
The social-media company said Chief Technology Officer Parag Agrawal would take the reins effective immediately. $Twitter (Delisted) (TWTR.US)$

Will Santa bring good luck this year?

Omicron may drive megacap tech stocks even higher

Bill Ackman: The Covid omicron variant could end up being bullish for market

Palantir to the moon? Or sinking like a rock?

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