A decoration hangs on a Christmas tree outside the New York Stock Exchange (NYSE) on the last day of trading before Christmas in Manhattan, New York City, U.S., December 23, 2021. REUTERS/Andrew Kelly
Dec 27 (Reuters) – U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year’s final trading week.
Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans. read more
Delta Air Lines (DAL.N) United Airlines , American Airlines (AAL.O) and Southwest Airlines (LUV.N) dropped between 1.5% and 2.8% premarket. Cruise operators Norwegian Cruise Line Holdings (NCLH.N), Royal Caribbean (RCL.N) and Carnival Corp (CCL.N) fell 2%-2.8%.
The S&P 500 closed at a record high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain’s economic impact after it upended markets earlier this month. read more
Wall Street’s three main indexes are eyeing a third straight yearly gain, with the benchmark S&P 500 (.SPX) on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.
At 6:12 a.m. ET, Dow e-minis were up 25 points, or 0.07% and S&P 500 e-minis were up 9 points, or 0.19%.
Looking ahead, thinner-than-usual trading volumes ahead of New Year could make markets susceptible to volatile moves.Reporting by Medha Singh in Bengaluru; editing by Uttaresh.V
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This article was originally published by Reuters.