US stock futures rose late on Sunday after heavy selling on Friday on fears of the global economic impact of a worrying new strain of COVID-19.
Dow Jones Industrial Average Futures YM00,
Immediately after the start of trading at 6 p.m. Eastern, there was an increase of about 120 points, or 0.3%. S&P 500 Futures ES00,
and Nasdaq-100 Futures NQ00,
registered an increase of about 0.4 percent.
On Friday, Wall Street suffered its worst day in more than a year amid growing concerns over the new Omicron version of COVID-19. The World Health Organization’s technical advisory group on Friday declared it “a sort of concern” and several countries imposed flight restrictions from countries in southern Africa, where the first variant was discovered.
Little is known about Omicron, but investors faced bad news on Friday.
US health officials urge caution, but not panic, over Omicron version
In the holiday-shortened session, the Dow Jones Industrial Average (DJIA),
According to FactSet data, the index fell 905.04 points, or 2.5%, to 34,899.34, its worst daily decline since October 28, 2020. s&p 500 spx,
fell 106.84 points, or 2.3%, to 4,594.62, and the Nasdaq Composite Index comp,
It fell 353.57 points, or 2.2%, to 15,491.66.
“The pandemic and COVID variants pose one of the biggest risks to the markets, and volatility is likely to continue over the next year(s),” wrote Keith Lerner, co-chief investment officer and chief market strategist at Truist Advisory Services. In Friday’s note. “It is difficult to say at this time how enduring or impactful this latest version will be for the markets.”