Here are the most important news, trends and analysis that investors need to start their trading day:
1. Wall Street set to jump after Friday’s omicron-driven plunge
- After Friday’s sharp slide, the 10-year Treasury yield was up to over 1.55% on Monday.
- U.S. oil prices were up over 6% to more than $72 per barrel Monday after Friday’s 13% fall.
- Bitcoin was up 4% to over $57,000 on Monday after sinking to roughly $53,500 last week.
2. Fauci says U.S. needs to be prepared to do ‘everything’ to fight variant
White House Chief Medical Adviser Anthony Fauci gives his opening statement before the Senate Health, Education, Labor and Pensions hearing on “Next Steps: The Road Ahead for the COVID-19 Response” on Capitol Hill in Washington, November 4, 2021.
Elizabeth Frantz | Reuters
White House chief medical advisor Dr. Anthony Fauci said Sunday that Americans need to be prepared to do “anything and everything” to fight omicron. The variant has several mutations to the spike protein that allows the virus to enter the body, and some of those mutations could lead to increased antibody resistance and transmissibility. However, Fauci said it will take about two weeks to have more definitive information on omicron’s transmissibility, severity and other characteristics. Fauci, the top U.S. infectious disease expert, told the ABC program “This Week” that it’s still “too early to say” whether lockdowns or new mandates will be appropriate.
3. America plans to restrict travel from South Africa, other nations
International travellers wearing personal protective equipment (PPE) arrive at Melbourne’s Tullamarine Airport on November 29, 2021 as Australia records it’s first cases of the Omicron variant of Covid-19.
William West | AFP | Getty Images
The WHO urged countries around the world not to impose flight bans on southern African nations due to concerns over omicron. The U.S. plans to restrict travel for non-U.S. citizens from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The variant has been found in the U.K., Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong. However, omicron has yet to be found in America. Fearing new travel bans, airline stocks were crushed Friday. But they were bouncing higher in Monday’s premarket trading, along with the broader strength in stocks.
4. Moderna, Pfizer say omicron vaccine could be ready next year
Moderna’s sign is seen outside of their headquarters in Cambridge, MA on March 11, 2021.
Boston Globe | Getty Images
5. Cyber Monday next after Black Friday traffic drops from pre-Covid levels
People shop at the Polaris Fashion Place mall during Black Friday on November 26, 2021 in Columbus, Ohio.
Matthew Hatcher | Getty Images
U.S. retailers are estimated to generate online sales of up to $11.3 billion on Cyber Monday, a decline in growth from a year earlier as fewer discounts and limited choices due to global supply chain disruptions deter shoppers. Traffic at retail stores on Black Friday dropped 28.3% compared with 2019, as Americans shifted more of their spending online and kicked off their shopping earlier in the year, according to preliminary data from Sensormatic Solutions. However, Black Friday traffic was up 47.5% from last year.
— The Associated Press and Reuters contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.
https://www.cnbc.com/2021/11/29/5-things-to-know-before-the-stock-market-opens-monday-nov-29.html
