Dow Jones Futures Dive As Moderna CEO Predicts Less Effective Vaccines For Omicron Variant – News Nation USA
Dow Jones futures dived 450 points early Tuesday, as Moderna chief Stephane Bancel predicted existing vaccines will be less effective for the Omicron variant. The stock market bounced after Friday’s omicron Covid-19 sell-off, as President Joe Biden ruled out new lockdowns. Electric-vehicle stocks Li Auto, Lucid Motors, Rivian and Tesla raced higher Monday.
On Monday, the Dow Jones Industrial Average moved up 0.7%. The S&P 500 rose 1.3%, while the Nasdaq led the way, rising 1.9%. Crude oil prices rose over 2%. Bitcoin surged 7%. And the 10-year Treasury yield climbed to 1.53%.
Among the Dow Jones leaders, Apple (AAPL) traded up 2.2%, while Microsoft (MSFT) moved up 2.1% in today’s stock market. Nike (NKE) remains below a recent buy point despite a 1.1% gain Monday.
Electric-vehicle leader Tesla (TSLA) rallied 5.1% Monday. EV peer Rivian (RIVN) surged nearly 7%, while Lucid Motors (LCID) gained 6.5%. Chinese EV leader Li Auto (LI) bolted higher after delivering earnings, while Xpeng Motors (XPEV) edged higher.
Among the top stocks to buy and watch, Nucor (NUE), Pioneer Natural Resources (PXD), Pfizer (PFE) and Zim Integrated Shipping (ZIM) are near new buy zones.
Microsoft, Nucor and Tesla are IBD Leaderboard stocks. Apple was featured in this week’s Stocks Near A Buy Zone story. And Zim was spotlighted in last week’s IPO Leaders story.
Dow Jones Futures Today: Omicron Variant; Powell, Yellen On Deck
Ahead of the stock market open Tuesday, Dow Jones futures dropped 1.3% vs. fair value, while S&P 500 futures lost 1%. Nasdaq 100 futures moved down 0.5% vs. fair value. Remember that trading in Dow Jones futures and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
Among exchange traded funds, Innovator IBD 50 (FFTY) moved up 1.6% Monday. Nasdaq 100 tracker Invesco QQQ Trust (QQQ) gained 2.2%. And the SPDR S&P 500 ETF (SPY) ascended 1.2%.
U.S. Stock Market …….