Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures, with all eyes on the newly discovered omicron Covid variant following Friday’s sell-off.
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The stock market rally was hit from all directions last week, with the major indexes tumbling below key levels Friday on the new omicron Covid variant, with crude oil prices and Treasury yields plunging. Coronavirus vaccine makers such as Moderna (MRNA), BioNTech (BNTX) and Pfizer (PFE) were big winners.
Is this the start of a significant market slide, the continuation of recent whipsaw action or will stocks quickly rebound? The current uncertainty makes it difficult to navigate the stock market rally. Investors should be playing more defense than offense until conditions clearly improve. More clarity on the new omicron variant is needed.
Li Auto earnings are due before Monday’s open. Later this coming week, Li Auto (LI) and Chinese EV startups…
