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5 things to know before the stock market opens Tuesday, Nov. 30

Investors need the latest news, trend and analysis to get started with trading.

1. Dow futures fall 400 points after omicron worries resurface

A trader works on the floor of the New York Stock Exchange (NYSE) at the start of trading on Monday following Friday’s steep decline in global stocks over fears of the new omicron Covid variant discovered in South Africa on November 29, 2021 in New York City.

Spencer Platt | Getty Images

Dow futures declined Investors reassessed the risks of Covid Omicron’s new variant and lowered 400 points or more than 1 percent on Tuesday. S&P 500 futures fell about 1% and Nasdaq futures dropped 0.5%.

Stocks saw a reboundMonday with the NasdaqThe increase was close to 1.9% S&P 500The increase was 1.3% Dow Jones Industrial AverageUp almost 0.7% Wall Street just came off Friday’s holiday-shortened session. During that time, all three benchmarks were down more than 2% since omicron was known. Heading into the last day of November, the Dow was lower for the month, while the S&P 500 and Nasdaq were higher for the month.

2. Fed’s Powell tells Senate that new version poses risk for economy

Jerome Powell, Federal Reserve Chairman, speaks during a Senate Banking, Housing and Urban Affairs Committee hearing about the CARES Act, in Washington, DC, U.S.A, September 28, 2021.

Kevin Dietsch | Reuters

Federal Reserve Chairman Jerome PowellPrepared remarks: is set to tell a Senate Banking Committee hearingOn Tuesday, he stated that the coronavirus variant and the increase in coronavirus cases have created a danger to the U.S. Economy and will muddle the already-uncertain inflation outlook. “Higher fears about the virus may reduce the willingness of people to work in person. This would slow progress on the labor market, and cause more supply-chain disruptions.” Treasury Secretary Janet YellenPowell is joined by Powell in presenting their quarterly reports to Congress under the March 2020 Covid legislation for economic relief. They are before the House Financial Services Committee on Wednesday.

3. FDA panels to review Merck’s Covid antiviral tablet

Merck’s Covid-19 experiment, the pill called molnupiravir

MERCK & CO INC | via Reuters

Expert advisors are available to the Food and Drug Administration are expected to voteTuesday, May 22nd: Recommendation of authorization MerckThe antiviral Covid pill. U.S. drugmaker said Friday that it had reduced hospitalizations by 30%. Data from its study’s late stage showed more than 1400 patients. The company had previously reported a reduction of 50% using data from 775 patients. Analysts expect to see the Merck drug, and another similar oral treatment. Pfizerto be licensed as essential therapeutic tools that may be taken at-home as soon as Covid symptoms occur.

4. Biden states that he does not expect travel restrictions or lockdowns to increase.

US President Joe Biden makes remarks in order to update the Roosevelt Room at the White House on November 29, 20,21 on the Omicron variant.

Mandel Ngan | AFP | Getty Images

President Joe BidenOn Monday, he said that he didn’t anticipate the U.S. to place additional restrictions on travel to stop the spread of the omicron. On Monday, the United States temporarily barred visitors from South Africa. This is where researchers first identified the strain. It also banned travelers from Botswana and Zimbabwe. The extent of this variant’s spread will dictate whether further travel restrictions are required. Biden said at a news conference. He said, “I don’t anticipate that at the moment.” He also stated that he does not believe lockdowns should be necessary.

5. FTC orders Amazon, Walmart to give supply chain information

Washington D.C. is the headquarters of Federal Trade Commission

Kenneth Kiesnoski/CNBC

Federal Trade Commission is investigatingWhether supply chain disruptions can cause consumers to pay higher prices. This order was placed by the agency Walmart, AmazonThis will allow them to share detailed data with other important food suppliers. In a statement, the FTC stated that the purpose of this investigation was to find out if there have been any supply chain problems, such as bottlenecks, anticompetitive practices and higher prices. This probe is being conducted as Biden’s administration fights an increase in inflation.

— Reuters contributed to this report. All market action can be followed like a professional. CNBC Pro. The latest information on pandemics is available here CNBC’s coronavirus coverage.

Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.