Travel Stocks in Trouble as Another COVID-19 Variant Surfaces

by | Nov 29, 2021 | Market Updates

We’re closely watching the Dow this week as it looks to recover from its 1,000-point drop on Friday — and more in Monday’s stock market recap.

The drop in the Dow itself is nothing to worry about… Confirmation of another COVID-19 variant, Omicron, and talk of renewed travel bans hit the news on a day where there’s little liquidity in the market following Thanksgiving.

Most traders weren’t active because of the holiday, with most hedge funds also sitting out. And when there aren’t a lot of people in the market, it’s like trading a stock with no volume — the numbers can swing wildly.

The Dow is recovering nicely this morning, but the market’s reaction to this new variant and the travel bans will cause some volatility in the days ahead, especially when it comes to travel stocks. I’ll have more on that in Roger’s Radar below… 

In Monday morning’s stock market recap video, I’ll reveal why the market fell so hard Friday… why bonds are weak this morning… whether volatility is set to rise or fade… which sectors are falling and which are stable… the biggest news to pay attention to from the Federal Reserve this week… and how to tackle the current market cycle. 

Don’t forget to like and subscribe to our YouTube channel if you haven’t already so you can be notified as soon as we post our next video and see what other trade opportunities we’re paying close attention to! 

 

Roger’s Radar: Omicron’s Effect on Travel Stocks

On my radar this morning is Omicron and, more specifically, how the market rebounds from fears of the new COVID-19 variant. Futures are rebounding this morning as buyers step in after Friday’s sell-off. 

Travel stocks were hit the hardest, with major airlines falling between 3% and 9%. 

Delta Air Lines Inc. (NYSE: DAL) fell 8.3% to close at $36.38 during Friday’s route, but was up 3.5% in premarket trading Monday.

Similarly, American Airlines Group Inc. (Nasdaq: AAL) fell 8.8% on Friday but was back up 2.8% Monday morning. 

Stock Market Recap: By the Numbers

This morning’s stock market futures recap: 

DOW (mini)

  • Indicated close: 34,899.34.
  • Futures: 35,191.
  • Change: +333.

S&P 500 (mini)

  • Indicated close: 4,594.62.
  • Futures: 4,644.25.
  • Change: +48.5.

NASDAQ (mini)

  • Indicated close: 16,025.58.
  • Futures: 16,241.
  • Change: +353.66.

RUSSELL (mini)

  • Indicated close: 2,245.94.
  • Futures: 2,278.6.
  • Change: 35.3.

Note: Updated as of 8:51 a.m. 

Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.

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WRITTEN BY<br>Roger Scott

WRITTEN BY
Roger Scott

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