U.S. Stock Futures Are Higher After Yesterday's Volatility Related to the Variant #Omicron #MarketUpdate
U.S. stock futures are higher. Markets are poised to open higher post yesterday’s volatility related to the variant drove equity prices lower. Jobless claims from last week were 222k versus estimate of 240k. Yields on the 10y & 30y bonds inched up a about 3 basis points. Chairman Powell commented that the Fed is prepared to accelerate the tapering, if necessary, to curtail inflationary pressures, resulting in selling pressure on the shorter end of the curve. OPEC+ is expected to announce its production targets today, with global energy prices slightly higher in morning trading. Members are concerned that the new variant might depress energy prices. European equities are lower reflecting more sensitivity to increasing cases. Asian markets closed mixed for their trading day.