Dow futures drop sharply as omicron fears resurface


BY THE NUMBERS

IN THE NEWS TODAY

A panel of professional advisors to the FDA are expected to vote Tuesday on whether or not to suggest authorization of Merck‘s (MRK) antiviral Covid capsule. The U.S. drugmaker reported Friday the drugs’s efficacy in decreasing hospitalizations and deaths dropped to 30%. It had reported a few 50% discount a month in the past. (Reuters)

President Joe Biden on Monday said he doesn’t expect the U.S. to impose further journey restrictions to stem the unfold of omicron. The U.S. on Monday started to quickly bar guests from South Africa, the place scientists first reported the pressure, and from Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The president additionally mentioned he would not assume lockdowns are obligatory. (CNBC)

* Here’s what we know so far about the new omicron variant (CNBC)
* CDC steps up its Covid vaccine booster recommendation (CNBC)
* World waits as Covid vaccine makers prepare for new variant (CNBC)

The FTC is investigating whether or not provide chain disruptions are hurting customers with greater costs. The company has ordered Walmart, Amazon and different main meals suppliers to provide detailed details about the state of affairs as a part of the probe. (Reuters)

Altria (MO) and Philip Morris International (PM) are not in a position to promote or import Iqos tobacco gadgets within the U.S. after the Biden administration opted to take no action in an ongoing patent dispute. Rival R.J. Reynolds, a subsidiary of British American Tobacco (BTI), filed a declare with the U.S. International Trade Commission (CNBC)

Former President Donald Trump’s legal professionals will try to persuade a federal appeals courtroom to cease Congress from receiving name logs, drafts of speeches and different paperwork associated to the Jan. 6 insurrection on the U.S. Capitol led by his supporters. (AP)

* Supreme Court asked to review overturned Bill Cosby sex crime conviction (CNBC)

STOCKS TO WATCH

Dollar Tree (DLTR) fell greater than 2% in premarket buying and selling after Goldman downgraded the stock to impartial from a purchase. The agency mentioned the inventory is just too costly at present ranges as Dollar Tree’s comeback story is now priced in.

SolarEdge Technologies (SEDG) pulled again about 3% premarket after Morgan Stanley downgraded the stock to equal-weight from chubby. Morgan Stanley mentioned the inventory seems to be absolutely valued after a latest sizzling streak.

Facebook-parent Meta Platforms (FB) have been barely decrease within the premarket after a U.Ok. regulator informed the corporate it must sell GIF-sharing platform Giphy. The Competition and Markets Authority mentioned Meta’s acquisition of Giphy would scale back competitors between social media platforms.

Meat different producer Beyond Meat (BYND) and plant-based dairy firm Oatly (OTLY) every retreated greater than 1% in early morning buying and selling after HSBC initiated protection of the shares at a “reduce” ranking.

Twitter (TWTR) and Square (SQ) moved greater within the premarket the day after Jack Dorsey announced he’s stepping down as CEO of Twitter. Dorsey was serving as chief government at each the social media platform and digital funds firm Square.