S&P 500 futures were higher even after a losing week on Wall StreetInvestors retreated from equities due to concerns about the Federal Reserve’s new omicron Covid variation and its move towards tightening policy.

The Nasdaq stock market futures performed poorly on Sunday, following a large drop in bitcoin during the weekend. Investors continued to reconsider owning high-value tech stocks.

Futures contracts that are tied to Dow Jones Industrial Average gained 124 point, or 0.4%. S&P 500 futures were 0.3% higher. Futures for Nasdaq 100 were close to the flatline.

The Dow and S&P 500 fell 0.17% and 0.84%, respectively, on Friday. Nasdaq Composite was the lowest performer with a slide of 1.92%.

Tesla shares fell more than 6 percent on Friday’s tech-heavy Nasdaq.

Cathie Wood’s Ark Innovation Fund suffered a more dramatic drop of 5%. Now, all the holdings in the fund are in a bear market apart from two stocks. Names like Teladoc Health and Zoom Video as well as Roku, Palantir, Twilio, Roku, Roku, Palantir, and Twilio have suffered severe losses.

This heavy selling of technology stocks also extended to crypto, where prices dropped as well. BitcoinOn Friday, the trade was around $57,000. However, by Saturday it had risen to $67,000. plunged to around $43,000. The world’s biggest cryptocurrency was in existence by Sunday clawed back some of its lossesIt traded at below the $50,000 threshold.

Weaker than expected job growth contributed to Friday’s wide market selling. The nonfarm payrolls rose by 210,000 last monthAccording to Friday’s Labor Department report, this was lower than the expected 573,000 economists polled by Dow Jones.

“A softer payrolls printing pulled the rug under risk sentiment,” TD Securities said Friday in a note sent to clients. Investors fled for safety as the 10-year Treasury yield fell to 1.335%, which is the lowest rate since Sept. 21, 2001.

This was an improvement on October’s 4.6% unemployment rate. Dow Jones reports that economists predicted a reading at 4.5%.

Jeffrey Buchbinder from LPL Financial, an equity strategist said that “the job growth number was disappointing” given the fact that we didn’t know what the name is of the latest Covid-19 version. Omicron could reduce the hiring of a few people over the next couple months but we are confident that there will be strong job gains in the U.S. and an above-average rate growth in 2022.” he said.

Friday’s sale ended a volatile week as investors analyzed new information regarding the micron variant.

All three major averages ended the week in negative territory, while the Dow recorded its fourth straight week of declines for the first week since September 2020. The S&P and Nasdaq Composite were both down for a second consecutive week.

Russell 2000, which is a small-cap name, fell by 3.86% over the course of the week.

“Despite our forecast for a flat year for the S&P 500…we are still bullish on pockets of the market, including small caps,” Bank of America said Friday in a note to clients. The firm said that small caps were more affordable than large caps and more vulnerable to services spending recovery.

Bank of America stated that the upside potential for small caps rests on Covid cases being under control.

Inzwischen, it has been identified that the Omicron variant is also available. at least 15 U.S. statesABC News interviewed Dr. Rochelle Walensky, Director of the CDC on Sunday.

“We are aware that there are several dozen cases we need to follow closely. We are hearing more cases and that the probability of them increasing, so we’re likely to see more,” she stated on “This Week.”