The markets are down as we start the week with the holidays fast approaching — and more in Monday’s stock market recap.
The markets are closed on Friday for Christmas, so this is what you’ll often hear me refer to as a “fragmented week.” On weeks like this, a lot of people take off, or at least half of it to rest and prepare for the holidays.
And less traders in the market means more volatility due to less liquidity.
The markets are down to start the week on renewed omicron fears, even after a 500-point downward move on Friday, making some investors nervous.
But I think we’re going to see a turnaround, and I’ll explain why in this video…
Elsewhere in the news, Moderna Inc. (Nasdaq: MRNA) announced that a third dose of its COVID-19 vaccine appears to provide significant protection against the omicron variant, which is certainly good news, concerning the turn of events I discuss in Roger’s Radar below…
In this morning’s stock market recap video, you’ll learn why I believe the markets are going to recover soon… what market internals are showing us right now… why bonds are barely up … why volatility levels aren’t spiking… whether the sector rotation I predicted is actually happening… how to take advantage of the current market cycle… and how to position yourself for profits in 2022.
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Roger’s Radar: Omicron
Futures are again sinking on omicron fears as we prepare for a coming shift in the Federal Reserve’s easy-money policies. The omicron variant is spreading fast around the world in about 90 different countries, and has been found in 43 of 50 states in the U.S.
The move in futures is “reflecting growing uncertainty surrounding whether the Omicron surge will bring new widespread economic shutdowns, an unexpected shelving of additional fiscal stimulus from President Biden’s Build Back Better plan, and a breach by the S&P 500 index of its 50-day moving average,” said Jim Paulsen, chief investment strategist at the Leuthold Group.
Royal Caribbean is also down 4% this morning after 48 people tested positive on one of its ships. That’s bad news for cruise ship stocks, which just can’t catch a break.
Initially, the cruise line reported 44 cases on board. “This number (48) includes four additional close contacts which were identified as COVID-19 positive at the end of the voyage,” Sierra-Caro said Monday. “The guests were quarantined on board and assisted upon the ship’s arrival on Dec. 18.”
Stock Market Recap: By the Numbers
This morning’s stock market futures recap:
- Close: 35,365.44.
- Futures: 34,859.
- Change: -393.
S&P 500 (mini)
- Close: 4,620.64.
- Futures: 4,553.75.
- Change: -56.25.
- Close: 15,801.46.
- Futures: 15,569.5.
- Change: -216.25.
- Close: 2,173.93.
- Futures: 2,137.9.
- Change: -29.4.
Note: Updated as of 9:18 a.m. EST
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Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.