U.S. stocks futures rose on Tuesday in overnight trading after Wall Street’s sell-off. This was due to fears over the Covid new variant, omicron and the Federal Reserve considering a faster-than-planned taper.

Dow futures gained 60 points. S&P 500 futures gained 0.4% and Nasdaq 100 futures rose 0.5%.

The Dow Jones Industrial Average has had its most volatile day since Oct 2020, when it experienced its lowest level of volatility in over a year. Stocks recovered on Monday but then fell again Tuesday.

Wednesday is the start of trading for the last month in 2021.

On Tuesday,The Dow fell more than 600 points. The S&P 500 shed 1.9% and the tech-focused Nasdaq Composite dipped 1.6%. As cyclical names pulled on markets, the Russell 2000 small-cap benchmark dropped 1.9%.

The session’s lows were reached when Federal Reserve Chair Jerome Powell announced that the central bank would discuss speeding up its bond-buying taper during the December meeting. Even though omicron may cause disruption, Powell said the Fed chief believes that the Fed can reduce the monthly bond-buying pace faster than the $15 billion-per-month plan announced earlier in the month.

Powell stated, “At the moment, the economy and inflationary pressures have increased to a point where it makes sense for me to wrap up the taper on our asset purchases…perhaps a few more months earlier.” “I anticipate that we will talk about that at our next meeting.”

Investors will notice that Fed is not focusing its efforts on new threats like the pandemic by accelerating the withdrawal of their easy policies.

Gregory Daco (chief U.S. economist, Oxford Economics) stated that markets are having difficulty absorbing the combination of increased uncertainty about the Omicron variant’s impact and a hawkish Fed turn in the context persistently high inflation.

On Tuesday, bond yields fell 8 basis points below 1.45% due to mounting fears about microns.

This new Covid variant was initially discovered in South Africa. It has been found in over a dozen other countries. restrict travel. Denting sentiment Tuesday, ModernaAccording to CEO, he told Financial Times that expects existing vaccines to be less effectiveFor the old variant.

The Dow closed Tuesday’s volatile trading month. For its third consecutive month of losses, the Dow fell 3.7%. The S&P 500 fell 0.8%, while the Nasdaq Composite gained 0.25% in November. Russell 2000 lost 4.3% in November. This is its lowest month since March 2020.

The major averages have remained steady for the entire year. The Dow is up 12.7% and the S&P 500 is up 21.6% in 2021. This year, the Nasdaq Composite has risen by an incredible 20.6%.

Investors will examine updates about the omicron variation on Wednesday and other key economic reports. On Wednesday morning, the Manufacturing PMI and ISM Manufacturing prints for November as well as October’s Construction Spending will be released.

ADP will release its private payroll data at 8:15 AM. Dow Jones polled economists and found that 506,000 more private jobs were created in November than October’s 571,000.