Stock futures are down as Omicron fears returned to the fore after vaccine makers suggested current shots might not be as effective against the new variant. Here’s what we’re watching in Tuesday’s trading:
- It has become a familiar tale this week: Investors get tetchy over Omicron, and crude, cruise lines and airlines lose ground, while pandemic favorites like Peloton and vaccine makers advance. All of the above were in evidence on Tuesday. Occidental Petroleum dropped 3.7% premarket, American Airlines fell 2.6% and Carnival was down 3.2%. Meanwhile, Peloton added 1.6%, Novavax gained 1.6% and Zoom Video Communications rose 2.1%.
- Pfizer ticked up 1.5% premarket. The FDA could authorize Covid-19 boosters from Pfizer and BioNTech for use in 16- and 17-year olds as soon as next week.
- One outlier to this pattern was Moderna , which dropped 4.8% ahead of the bell. The vaccine maker’s CEO said current shots are likely to struggle against the Omicron variant.
- Other pandemic plays that were on the rise premarket included Teladoc Health and DoorDash , both up 1.1%.
- Hotels were also caught in the pullback. Marriott International fell 2.5% premarket, Host Hotels & Resorts dropped 3.7% and Airbnb shed 2.2%.
- Merck shares edged down 0.2% premarket. An outside panel of scientific advisers to the FDA is scheduled to meet Tuesday to discuss the experimental Covid-19 oral antiviral from Merck and partner Ridgeback Biotherapeutics.
- Salesforce , Hewlett Packard Enterprise and Box are among the companies reporting earnings Tuesday.
Chart of the Day
- Expect prices to swing around as markets try to get ahead of the science and assess the binary risk of new lockdowns—or not, writes columnist James Mackintosh.
Write to James Willhite at email@example.com
Peloton, Moderna, Marriott, Pfizer: What to Watch When the Stock Market Opens Today Source link Peloton, Moderna, Marriott, Pfizer: What to Watch When the Stock Market Opens Today