Stock futures moved higher in overnight trading Sunday following Friday's big sell-off as investors monitor the latest developments related to the Covid omicron variant.
Futures on the Dow Jones Industrial Average gained about 215 points, or 0.6%. S&P 500 futures added 0.7% and Nasdaq 100 futures rose 0.7%.
Stocks are coming off a holiday-shortened session Friday in which the Dow posted its worst day since October 2020. The Dow was down 905 points, or 2.5%. The S&P 500 tumbled 2.3% and the Nasdaq Composite slipped 2.2%. The three major indexes were negative for the week.
"The pandemic and COVID variants remain one of the biggest risks to markets, and are likely to continue to inject volatility over the next year(s). It's hard to say at this point how lasting or impactful this latest variant will be for markets," Keith Lerner, co-chief investment officer at Truist Advisory Services, said in a note Friday.