Stocks Up Despite Holiday Flight Chaos, China News

U.S. stock futures rose during the Christmas weekend, as Omicron optimism buffered the effect of the mass airline cancellations.

The latest research shows that the Omicron variant might cause less severe symptoms than the previous variants. This is good news, and stocks reacted positively to that.

However, that still doesn’t mean that health officials won’t shut down the economies and international travel. In fact, Dr. Anthony Fauci stated that Omicron could still overwhelm hospitals.

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Investors are also reacting to China’s central bank pledging more support for the economy. Lower interest rates in China will likely spill over to the rest of the world.

China is the second-largest global economy and trades with virtually every part of the world. Of course, China’s largest trading partner is the U.S.

Level Chg. Chg. %
DOW Futures 35,882.00 61 0.17%
S&P 500 Futures 4,728.25 13.75 0.29%
Nasdaq Futures 16,352.75 56.25 0.35%

U.S. Dollar and Treasuries

The yield on the 10-year Treasury fell one basis point. The dollar strengthened against a basket of major currencies.

Price Chg. Chg. %
U.S. Dollar Index (DXY): 96.23 +0.21 +0.22%

 

Yield Change Previous close
U.S. 1 Year Treasury Bill 0.005% -0.27 0.275%
U.S. 5 Year Treasury Note 1.243% -0.002 1.245%
U.S. 10 Year Treasury Note 1.484% -0.011 1.495%

 

Stocks To Watch

Tesla was up 1% from last week, since the stock market closed for Christmas. Last Thursday, the stock jumped more than 5% on news that Musk stopped selling his shares.

Major airliners were down during the holiday weekend, on nearly 5000 canceled flights during the same period. Staff shortages and a surge in COVID infections put pressure on the companies. American, United, Southwest and Delta Airlines all posted losses from 1% to 2%.

Other travel stocks dropped as well. Cruiseliner Carnival Corp dropped more than 2% in premarket trading. Norwegian Cruise Line dropped even more.

On the other hand, Omicron optimism means that vaccine stocks, like Novavax, look less attractive. .

Symbol Company Name Price Chg. % Volume
CCL Carnival Corp. $20.66 -2.55% 296.06K
AAL American Airlines Group Inc. $17.98 -1.53% 257.08K
TSLA Tesla Inc. $1,083.45 1.54% 224.14K
DAL Delta Air Lines Inc. $38.73 -1.45% 108.58K
UAL United Airlines Holdings Inc. $44.03 -1.87% 96.02K
NCLH Norwegian Cruise Line Holdings Ltd. $22.35 -1.63% 74.61K
NVAX Novavax Inc. $172.74 -2.54% 42.12K

 

Commodities To Watch

Oil dropped after holiday flight chaos. Gold dropped, holding above $1,800.

Resource Price Chg. %
WTI Crude Oil $72.78 -1.37%
Brent Crude Oil $76.08 -1.00%
Natural Gas $3.81 2.22%
Gold $1,807.70 -0.22%
Silver $22.77 -0.76%
Copper $4.38 -0.18%

 

Crypto

Crypto markets are up over the holidays, as traders recover from the November crash. The global crypto market cap is $2.40T, a 2.09% increase over the last day. Bitcoin’s dominance is currently 40.09%, an increase of 0.02% over the same period.

Currency Symbol Price Chg. % Market Cap.
Bitcoin BTC $51,072.10 +2.37% 965.90b
Etherium ETH $4,087.39 +1.17% 484.50b
Binance coin BNB $549.11 +1.20% 82.55b
Solana SOL $201.37 +2.05% 62.21b
Cardano ADA $ 1.570 +9.50% 48.86b

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