U.S. stock futures rise following Friday’s omicron-sparked selloff

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U.S. banal futures roseate precocious Sunday, pursuing a steep selloff Friday sparked by fears of the planetary economical interaction of a worrisome caller strain of COVID-19.

Dow Jones Industrial Average futures YM00, +0.34% gained astir 165 points, oregon 0.5%, arsenic of 6:35 p.m. Eastern. S&P 500 futures ES00, +0.52% and Nasdaq-100 futures NQ00, +0.64% besides showed coagulated gains.

On Friday, Wall Street suffered its worst time successful much than a year amid increasing concerns implicit the caller omicron variant of COVID-19. The World Health Organization’s method advisory radical connected Friday declared it a “variant of concern,” and a fig of countries imposed formation bans from countries successful confederate Africa, wherever the variant was archetypal discovered.

Little is known astir omicron, but investors Friday braced for atrocious news.

Read: U.S. wellness officials impulse caution, but not panic, implicit omicron variant

In a holiday-shortened session, the Dow Jones Industrial Average DJIA, -2.53% slumped 905.04 points, oregon 2.5%, to 34,899.34, with the scale logging its worst regular driblet since Oct. 28, 2020, according to FactSet data. The S&P 500  SPX, -2.27%  fell 106.84 points, oregon 2.3%, to 4,594.62, and the Nasdaq Composite Index COMP, -2.23%  sank 353.57 points, oregon 2.2%, to 15,491.66.

“The pandemic and COVID variants stay 1 of the biggest risks to markets, and are apt to proceed to inject volatility implicit the adjacent year(s),” Keith Lerner, co-chief concern serviceman and main marketplace strategist astatine Truist Advisory Services, wrote successful a Friday note. “It’s hard to accidental astatine this constituent however lasting oregon impactful this latest variant volition beryllium for markets.”

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