U.S. stocks surged higher as markets extended their Tuesday’s rally on more good news – Pfizer is working on an Omicron vaccine too.
Drugmaker Pfizer said that it is developing an Omicron-specific vaccine. The company said it has “high confidence,” that the vaccine will be out by March.
The report comes weeks after the rival vaccine marker Moderna also said it could make a new vaccine by early 2022.
The pandemic has proven to be a major economic disruptor, threatening international trade and consumer spending alike. News of the new Omicron variant had sent markets down as countries prepared to close borders.
However, recent reports suggested that the variant may not be contributing to more deaths in South Africa, the country where it originated from. Now, news of a potential vaccine boosted the sentiment even further.
|S&P 500 Futures||4,700.00||11.75||0.25%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury fell slightly. The dollar weakened against a basket of major currencies.
|U.S. Dollar Index (DXY):||96.19||-0.18||-0.19%|
|U.S. 1 Year Treasury Bill||0.308%||-0.002||0.310%|
|U.S. 5 Year Treasury Note||1.253%||-0.005||1.258%|
|U.S. 10 Year Treasury Note||1.473%||-0.003||1.476%|
Stocks To Watch
Travel stocks were up on good pandemic news. Cruiseliners Norwegian Cruise Line and Carnival Corp were up 1.95% and 2.44% respectively.
Airline companies American Airlines, United Airlines and Delta were all up more than 1%.
On the other hand, vaccine companies suffered. Moderna and Novavax were down more than 2% and 5% respectively.
|Symbol||Company Name||Price||Chg. %||Volume|
|AAL||American Airlines Group Inc.||$18.15||1.45%||804.13K|
|NCLH||Norwegian Cruise Line Holdings Ltd.||$20.61||2.44%||348.58K|
|DAL||Delta Air Lines Inc.||$38.74||1.84%||210.99K|
|UAL||United Airlines Holdings Inc.||$43.97||1.29%||184.51K|
Commodities To Watch
Oil steadied as traders considered the impact of positive Omicron news. Gold was stable in premarket trading.
|WTI Crude Oil||$72.11||0.08%|
|Brent Crude Oil||$75.68||0.32%|
Bitcoin dipped below $50,000 again, taking major altcoins with it.
The global crypto market cap is $2.31T, a 2.23% decrease over the last day. Bitcoin’s dominance is currently 40.14%, a decrease of 0.48% over the same period.
|Currency||Symbol||Price||Chg. %||Market Cap.|