U.S. stock futures traded higher on Thursday as the markets began to recover from the Omicron shock.
Late Wednesday, U.S. health authorities confirmed the first case of the new variant on U.S. soil. A traveler from South Africa tested positive, sending markets crashing down.
This morning, however, U.S. futures reversed course as DOW and S&P 500 recovered some of their losses. The tech-focused Nasdaq index, however, is still losing ground as investors worry about sky high tech valuations.
|S&P 500 Futures||4,521.75||7.5||0.17%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury rose two basis points. The dollar weakened against a basket of major currencies.
|U.S. Dollar Index (DXY):||95.87||-0.16||-0.16%|
|U.S. 1 Year Treasury Bill||0.254%||0.007||0.248%|
|U.S. 5 Year Treasury Note||1.172%||0.035||1.137%|
|U.S. 10 Year Treasury Note||1.428%||0.020||1.408%|
Stocks To Watch
Shares of Apple slid as the company warned suppliers over dropping demand for iPhones. The company already cut iPhone 13 production due to supply chain issues.
Jack Dorsey’s company Square will change its name to Block, to highlight the new focus on crypto. The move comes days after Dorsey resigned as Twitter CEO. Square Crypto, the company’s crypto team, is also changing its name to Spiral. The stock was down 6.64% on Wednesday, as the outlook on tech stocks worsened.
Travel stocks rebounded in premarket trading, after Wednesday’s selloff. American Airlines and Boeing posted gains, as did cruiseliner Carnival Corp.
|Symbol||Company Name||Price||Chg. %||Volume|
|PLTR||Palantir Technologies Inc.||$19.41||0.15%||367.82K|
Commodities To Watch
|WTI Crude Oil||$65.38||-0.29%|
|Brent Crude Oil||$68.72||-0.22%|
Bitcoin is still struggling to move above $57,000, amid a slight crypto market cooldown. The global crypto market cap is $2.59T, a 2.21% decrease over the last day. Bitcoin’s dominance is currently 40.95%, an increase of 0.16% over the same period.
|Currency||Symbol||Price||Chg. %||Market Cap.|