Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Dow futures jump 200 points as investors rotate out of tech and into bets on the recovery

by
December 6, 2021
in Latest News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Tesla delivered 254,695 electric vehicles in the second quarter of 2022

‘How quickly the tables have turned’: Falling mortgage rates have homebuyers so emboldened they’re asking sellers for cash

Dow Jones Industrial average futures jumped and Nasdaq-100 futures lagged as investors looked past the emerging threat from the omicron Covid-19 variant, rotating out of high-priced technology shares and into names linked to the recovering economy.

Here’s what was influencing the markets to start the week:

Shares linked to the economic reopening gained in Monday premarket trading like energy, industrials and airlines.Investors continued to sell tech stocks with relatively high valuations. Those shares dragged the market down to a losing week on Wall Street last week.The 10-year Treasury yield rebounded after falling last week amid the omicron threat.There’s a major shift underway at the Federal Reserve to bring about a faster end to its pandemic easing policies.Bitcoin lost $10,000 since Friday, including a sudden drop overnight from Friday to Saturday. The move showed decreasing risk appetite and is hitting related tech stocks.

Dow futures gained 223 points, or 0.8%, while Nasdaq-100 futures shed 0.2% in early Monday trading. S&P 500 futures were higher by 0.4%.

High-priced tech shares were lower in premarket trading, continuing a de-risking theme in markets. Nvidia was off by 4% in premarket trading. Tesla was also in the red.

On Friday, the Nasdaq Composite slid 1.92% with shares of Tesla as the biggest drag. Cathie Wood’s flagship Ark Innovation Fund fell more than 5% Friday, and all of the fund’s holdings are now in a bear market apart from two stocks. Teladoc Health, Zoom Video, Roku, Palantir and Twilio are some of the names that have registered steep losses.

Ark Innovation was down another 2% in premarket trading Monday.

Last week, Fed Chair Jerome Powell unnerved markets by signaling the Fed’s focus was inflation, even with the new variant emerging.

Comments by Fed officials suggest that the Fed is likely to decide to double the pace of its taper to $30 billion a month at its meeting next week, CNBC’s Steve Liesman reported on Monday. Initial discussions could also begin as soon as the December meeting about when to raise interest rates and by how much next year.

Stocks linked to the reopening of the economy gained on Monday, boosting sentiment on Dow futures. Boeing and Chevron shares were in the green.

American Airlines shares gained nearly 2% in premarket trading. Carnival and Wynn Resorts shares were about about 1%.

Bitcoin traded around $57,000 on Friday morning, but by Saturday had plunged to around $43,000. By Monday the world’s largest cryptocurrency had clawed back some of its losses, last trading at around $47,377.

Shares of Coinbase lost 6% in premarket trading, while Square declined by nearly 3%.

Loading chart…

Slower-than-expected job growth also contributed to Friday’s selling. Nonfarm payrolls increased by 210,000 last month, the Labor Department said Friday, which was below the 573,000 number economists surveyed by Dow Jones were expecting.

“A softer payrolls print pulled the rug beneath risk sentiment,” TD Securities wrote Friday in a note to clients. As investors fled to safety the yield on the 10-year Treasury dipped to 1.335%, the lowest since Sept. 21.

Friday’s selling wrapped up a volatile week for the major averages as investors evaluated new information about the omicron variant.

All three major averages finished the week in the red, with the Dow registering a fourth straight negative week for the first time since September 2020. The S&P and Nasdaq Composite were both down for a second consecutive week.

Small cap names were hit especially hard, with the Russell 2000 falling 3.86% for the week.

“Despite our forecast for a flat year for the S&P 500…we are still bullish on pockets of the market, including small caps,” Bank of America said Friday in a note to clients. “Small caps are more domestic, more exposed to the services spending recovery, bigger beneficiaries of capex/reshoring and are inexpensive vs. large caps,” the firm added.

However, Bank of America said the potential upside for small caps hinges on Covid cases staying under control.

The omicron variant has now been discovered in at least 15 U.S. states, CDC Director Dr. Rochelle Walensky told ABC News on Sunday.

“We know we have several dozen cases and we’re following them closely. And we are every day hearing about more and more probable cases so that number is likely to rise,” she said on “This Week.”

ShareTweetPin

Related Posts

Tesla delivered 254,695 electric vehicles in the second quarter of 2022

by
July 2, 2022
0

In this article TSLA A giant cowboy boot is on display outside the Tesla Giga Texas manufacturing facility during the...

‘How quickly the tables have turned’: Falling mortgage rates have homebuyers so emboldened they’re asking sellers for cash

by
July 2, 2022
0

Associated Press Russia's messages with missiles tell West to back off The latest in a litany of horrors in Ukraine...

These Americans all left the U.S. for Mexico: How they found their ‘perfect location’ and made it happen

by
July 2, 2022
0

In 2006, after years of living paycheck to paycheck in California, I decided to move to Mexico. I was 50,...

Outdoor cooking boomed during the pandemic, and the grilling industry thinks it will stay hot

by
July 2, 2022
0

In this article WEBR COOK People have been eating and cooking more meals outdoors since the pandemic began, a trend...

If You’ve Got Time, These Three Dividend Aristocrats Should Pay Off

by
July 2, 2022
0

If you're an investor with long time horizon, then you should meet these three high-growth Dividend Aristocrats. Dividend Aristocrats, as...

Next Post

NYSE shakes up senior management with Lynn Martin replacing Stacey Cunningham as president

New York City imposes vaccine mandate for all private sector employers, Mayor de Blasio says

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com