Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Omicron, Vaccine Stocks, Twitter: 3 Things to Watch

Stock Markets Nov 30, 2021 07:56
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters.
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio

By Sam Boughedda

Tech stocks roared back Monday after last week’s rout that sent the Dow Jones Industrial Average to its worse day of the year.

Investors bought the dip, taking advantage of the sharp sell-off in tech stocks. But there was also a bit of news. Twitter founder and CEO Jack Dorsey said he would step down from the social media company. 

Initially Twitter stock jumped 10% only to turn lower as the day went on.

Investors seemed to take the news of the new Omicron variant of coronavirus in stride after a weekend of headlines. Multiple countries around the world, including Japan and Israel closed their borders to foreigners or instituted partial travel bans to contain the variant’s spread.

The variant’s existence is what sent the major index into a freefall on Friday, which was a shortened trading session in the U.S. Airline stocks were in the spotlight, on concern new travel restrictions would affect their recovery, though the weekend was one of the busiest for business since the beginning of the pandemic.

President Joe Biden said Monday the U.S. would outline its plans for combatting the latest variant, though he advised those Americans who have yet to be vaccinated to get their shots and urged others to get their boosters. 

Here are three things that could affect markets tomorrow:

1. Omicron fears

The WHO said on Monday the Omicron coronavirus variant carried a very high risk of infection and multiple countries joined the list of those who have identified cases. Oil recovered after Friday’s big sell-off as hopes grew that the variant might prove to be milder than initially feared.

The World Health Organization advised its 194 member nations that any surge in infections could have severe consequences, but said no deaths had been linked to the new variant.

2. Vaccine stocks

Moderna Inc (NASDAQ:MRNA) rallied Monday after Omicron prompted vaccine makers to examine whether a new booster shot will need to be produced. Moderna's CEO, Stephane Bancel, told CNBC that it will take months to develop a booster shot explicitly designed for the new variant, but a higher dose of its current shot could be ready much sooner. However, he also acknowledged that the variant is likely to be in most countries already. On Sunday, Moderna's Chief Medical Officer Paul Burton said he suspects the new variant may elude current vaccines, but they will know more in the next couple of weeks. 

3. Twitter changes

Twitter Inc (NYSE:TWTR) CEO Jack Dorsey is to step down from his role, the social media company confirmed Monday. Investors will likely continue to guess at what his departure means for the future of Twitter, which has faced criticism in the last year for content on its platform. The new CEO Parag Agrawal is a former chief technology officer. "I've decided to leave Twitter because I believe the company is ready to move on from its founders," Dorsey said in a note he posted to Twitter. 

--Reuters contributed to this report


Omicron, Vaccine Stocks, Twitter: 3 Things to Watch

Related Articles

Mine closures creating new regional opportunities
Mine closures creating new regional opportunities By Proactive Investors - Sep 29, 2022

Experts from environmental, economic, and social-science backgrounds are converging in Sydney this November at the International Mining and Resources Conference & Expo (IMARC)...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
Sign up with Email