Markets took a hit on Friday as concern about the new Omicron COVID variant dealt a blow to investor confidence. The story continues to dominate as a new week kicks off.
Accordingly, healthcare stocks are some of the hottest properties right now, with investors hoping to find the company which might develop new vaccines and technologies to combat the new variant.
Even so, stocks are expected to open higher on Monday and oil is projected to bounce after investors were so spooked on Black Friday.
While this relief is partially down to having some time to process Friday’s news, there is also positive data news for investors. US jobs are expected to have increased by 581,000 in November, according to economists surveyed by Dow Jones.
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Some of the trending stocks at the start of the week are:
Moderna’s (NASDAQ: MRNA) chief medical officer says the company could have “large quantities” of a vaccine for the new Omicron COVID variant by early 2022.
Pfizer (NYSE: PFE) and BioNtech (NASDAQ: BNTX) are among the other healthcare stocks in the green as they aim to create their own vaccines for the heavily mutated variant. Fellow climbers include NRx Pharmaceuticals (NASDAQ: NRXP), Novavax (NASDAQ: NVAX) and Inovio Pharmaceuticals (NASDAQ: INO).
Fisker (NYSE: FSR) is the latest EV manufacturer to hit the headlines after it revealed its new Ocean SUV, which company founder Henrik Fisker claims may be the “world's most sustainable vehicle”.
British telecoms giant BT Group (LON: BT.A) could reportedly be subject to a takeover bid from Indian outfit Reliance Industries (NSE: RELIANCE).
Cruise liners, which were almost uniformly in the red on Friday, were showing signs of recovery. Carnival Corp (NYSE: CCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) were among the biggest risers in premarket trading.
In cryptocurrency news:
Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Shiba Inu (SHIB) have surged, recovering after the new COVID variant sparked a selloff over the weekend.
Speculation is rife over what new Indian legislation could mean for cryptocurrency firms and traders in the South Asian nation.
Binance has recommenced allowing withdrawals of Dogecoin (DOGE) after a “technical glitch” stopped some investors from actioning withdrawal transactions for around two weeks.
Finally, a cryptocurrency named Omicron soared by over 900% over the weekend as people around the world fretted about the emergence of its viral namesake in Southern Africa.