Stock futures opened higher on Monday after a rally earlier in the session, with volatility stemming from concerns about the Omicron variant at least momentarily abating. Contracts on the Dow extended gains. Earlier, the index ended higher by nearly 650 points, or 1.9{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996}, as cyclical names that had underperformed in […]
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(Bloomberg) — Facebook parent Meta Platforms Inc. dropped on Friday, bringing its shares closer to a bear market after months of volatility triggered by a whistle-blower’s revelations and disappointing quarterly results. Most Read from Bloomberg The selloff was 19.7{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} since its closing record on Sept. 7, erasing about $224 billion […]
Stock valuations are still looking too lofty even as the major indices continue to retrench on the one-two punch of Omicron variant fears and a hawkish shift in Federal Reserve policy. “I worry about markets because stock market valuations look relatively high,” said Torsten Slok, Apollo Global Management chief economist, […]
Stock futures opened higher Thursday evening to hold gains after a recovery rally, with an initial wave of concerns over the economic impacts of the Omicron variant at least temporarily easing. Contracts on the S&P 500 advanced. The blue-chip index closed higher by 1.4{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} during the regular session, marking its […]
Oil prices have come down way too fast on Omicron variant concerns, says Goldman Sachs oil strategist Damien Courvalin. In fact, the price correction is borderline comical, per Courvalin’s calculations. “The lack of discretionary buying activity in the face of an uncertain new COVID variant has therefore left prices in […]
Stock futures opened higher Tuesday evening to recover some losses after a selloff earlier, when more hawkish remarks from Federal Reserve Chair Jerome Powell compounded with lingering uncertainty around the Omicron variant and its impacts on the economy. Contracts on the S&P 500 rose after the index closed lower by […]