Stock Futures, Oil Rise as Investors Weigh New Variant

Oil prices and U.S. stock futures gained, indicating that those markets might recoup some losses from Friday’s selloff as investors monitored the likely implications of a new variant of Covid-19. 

Futures for the S&P 500 gained 0.6% Monday. The index suffered its worst one-day percentage decline since February on Friday after South Africa identified a fast-spreading strain of the coronavirus, which the World Health Organization has named Omicron. Contracts for the tech-focused Nasdaq-100 gained 0.9% Monday and futures for the Dow Jones Industrial Average added 0.4%.

Source: WSJ