U.S. stock futures mixed as traders await key virus and inflation news

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US stock futures were mixed on Monday, as investors digested the latest news on the spread of the coronavirus and prepared for new inflation data later in the week.

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Last week, the Dow Jones Industrial Average (DJIA),
-0.17%
fell 0.9%, S&P 500 SPX,
-0.84%
declined 1.2%, and the Nasdaq Composite comp,
-1.92%
dropped 2.6%.

what is driving the market
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Dr. Anthony Fauci told CNN’s “State of the Union” that early reports of the outbreak of the Omicron version of the coronavirus suggest it may be less dangerous than a delta wave. Reports from South Africa show that while the virus is spreading rapidly, hospitalizations are not happening.

Traders were left trying to parse the implications of Friday’s mixed report on jobs, which showed slowing job growth but a sharp drop in unemployment, as they prepare to release consumer price data on Friday. . Significant news also came from China, where the central bank cut reserve requirements for banks, while China Evergrande 3333,
-19.56 percent
Admitted that it may not be able to repay creditors.

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Luca Paolini, chief strategist at Pictet Asset Management, said economies have adapted well to the pandemic. “Consumer and industrial demand is strong, supply constraints are set to ease, and corporate earnings and margins remain healthy,” he said. The firm is neutral on equities and negative on bonds.

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