- US stocks opened higher
- Omicron fears ease
- Moderna (MRNA.US) stock surges on vaccine news
US indices launched today's session higher, attempting to erase Friday's losses, as investors looked to assess the impact of the Omicron coronavirus variant on the economic recovery. The Dow Jones rose roughly 0.40%, S&P 500 added 0.94%. while Nasdaq moved 1.4% higher. The small-cap benchmark Russell 2000 jumped 1.6%.The World Health Organization on Friday labeled the omicron strain a “variant of concern” as a large number of mutations has raised alarm. However, moods improved during the European session as some health officials said that Omicron coronavirus variant seems to cause only mild symptoms of infection. Elsewhere, investors await key economic data including the November jobs report on Friday and the ISM manufacturing survey on Wednesday.
US30 fell sharply on Friday, however sellers failed to break below major support at 34565 pts and price rebounded. Currently the index is testing an earlier broken lower limit of the wedge formation which coincides with 38.2% Fibonacci retracement of the last upward wave. Should break higher occur, upward move may accelerate towards support 35700 pts which coincides with 23.6% Fibonacci retracement. Source: xStation5
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Moderna (MRNA.US) stock jumped over 10% in premarket, extending Friday gains after the company’s chief medical officer announced that the company could roll out a reformulated vaccine against the omicron variant of Covid early next year.
Moderna (MRNA.US) stock launched today's session with a bullish price gap and is approaching resistance at $387.10 which coincides with downward trendline and 61.8% Fibonacci retracement of the last downward wave. On the other hand, if sellers manage to regain control, the nearest support lies at $320.85 and is strengthened by 38.2% Fibonacci retracement and upper limit of the 1:1 structure. Source: xStation5
Zoom Video (ZM.US) stock fell nearly 2% in premarket, moving in the opposite direction of travel stocks and following a 5.7% jump on Friday. Other stay-at-home stocks also fell slightly, including Peloton (PTON.US) and Netflix (NFLX.US).
Coinbase (COIN.US) stock rose more than 2% as the cryptocurrency exchange benefited from higher bitcoin prices, after selling off with the broader equities market on Friday.
American Airlines (AAL.US) stock added 1.4%, Delta Air Lines (DAL.US) stock rose 1.6% and United Airlines (UAL.US) stock climbed 1.7% in premarket as the airlines rebounding after Friday’s sharp losses in the wake of the omicron variant news. The US Transportation Security Administration screened 2.45 million airline passengers on Sunday, the highest number of daily passengers since the start of the pandemic.
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