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5 things to know before the stock market opens on Monday, December 20

Here are the most important news, trends and analysis investors need to start their trading day:

1. Futures drop on omicron concerns after tough week

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Monday, December 13, 2021.

Michael Nagle | Bloomberg | beautiful pictures

US stock futures fell more than 1% on Monday, heading for a shortened week filled with concern about how quickly the Covid omicron variant is spreading around the world. Dow futures fell more than 400 points after Average 30 shares down nearly 1.5% on Friday and down nearly 1.7% for the week. The S&P 500 down 1% on Friday and almost 2% for the week. The Nasdaq down 0.07% on Friday and down about 3% for the week. Despite recent weakness, all three benchmarks are still up for the year, with the Dow, S&P 500 and Nasdaq gaining more than 15.5%, 23% and 17.7% respectively in 2021, through the end of the day. Six.

2. Moderna jumps after its booster appears to protect against omicron

Jakub Porzycki | NurPhoto | beautiful pictures

Stock futures incorporate deeper losses early Monday after Moderna indicates the third dose of the Covid vaccine seems to provide Significant protection against omicrons. A booster dose of 50 micrograms, already approved for use, can “increase neutralizing antibody levels 37 times higher than pre-boost levels”. Preliminary data on doses of 100 micrograms, like the first two injections, show an increase of “approximately 83-fold”. Without the booster, the company’s vaccine was found to be less effective against omicrons. Moderna says it will continue to develop a specific omicron booster. Shares were up 5% in money markets, a highlight in the broader market on Monday.

3. Goldman cuts GDP forecast after Senator Manchin rejects Biden bill

U.S. Senator Joe Manchin (D-WV) closes the elevator doors after a Democratic policy luncheon at the U.S. Capitol in Washington, U.S., December 16, 2021.

Elizabeth Frantz | Reuters

The President’s Clear Failure Joe BidenThe “Build Back Better” plan means economic growth could be weaker than expected next year, according to Goldman Sachs. Plan hit the wall Sunday when West Virginia Democrat Sen. Joe Manchin said he would not support his party’s legislation, meaning the bill did not get enough votes to pass 50-50 in the Senate. “While the BBB in its current form seems unlikely, there is still the possibility that Congress will enact a series of much smaller fiscal proposals to address manufacturing and supply chain incentives.” Covid reported Sunday to Goldman clients said.

4. Davos gathering of world leaders, billionaires and CEOs postponed

A logo rests on a window at the entrance hall of the Congress Center in front of the World Economic Forum (WEF) in Davos, Switzerland, on Monday, January 20, 2020.

Jason Alden | Bloomberg | beautiful pictures

The World Economic Forum said on Monday that due to Covid concerns, it will they eat its in-person annual meeting in Davos, Switzerland, a gathering that brings together world leaders, billionaires, and CEOs. The event has been scheduled from January 17 to January 21, with the aim of addressing the economic, environmental, political and social errors exacerbated by the pandemic. “It is now scheduled for early summer,” the WEF said in a statement. Organizers say a series of “State of the World” online sessions will be held to “focus on shaping solutions to the world’s most pressing challenges.” WEF Canceled the summer version of the meeting will take place in Singapore in August. A virtual conference was held earlier this year.

5. Elon Musk Says He Will Pay More Than $11 Billion In Taxes This Year

Maja Hitij | Getty Images News | beautiful pictures

Elon Musk facing a huge tax bill this year – possibly the largest in US history. “For those wondering, I will be paying over $11 billion in taxes this year,” the Tesla CEO tweeted Monday. Musk has sold off $14 billion worth of Tesla stock since early November, after asking his followers in a Twitter poll whether he should sell his 10% stake. The response to that poll was a resounding “yes”. However, regardless of the vote, it is likely that Musk will still start selling to pay the taxes associated with the option. Tesla shares fell about 2% in money markets on Monday. While still up more than 30% this year, Tesla is down 15% over the past month, back below its $1 trillion market cap.

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https://www.cnbc.com/2021/12/20/5-things-to-know-before-the-stock-market-opens-monday-dec-20.html 5 things to know before the stock market opens on Monday, December 20

Emma James

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