After a week of rollercoaster trading, stock futures fell overnight on Monday as investors looked beyond the possible impact of the new Omicron Coronavirus variant.

The Dow Jones Industrial Average futures rose only 15 points. S&P 500 futures and Nasdaq 100 futures were both little changed.

After a Wall Street comeback that saw blue-chip Dow rise nearly 650 points, the overnight session was triggered by a resurgence in Wall Street. The S&P 500 jumped 1.1% on Monday with all 11 sectors registering gains. To end the day, 0.9% of the Nasdaq Composite rose. Travel-related stocks like airlines and cruise operators led the rally.

Fiona Cincotta (Senior Financial Market Analyst at City Index) stated that investors are now better positioned to take advantage of Omicron’s fears. Omicron’s potential economic impact on the US is being minimized by the markets. Initial reports indicate that Omicron’s new COVID variant may be less damaging than originally thought.

Investors bet that Covid-19 will cause milder illnesses than initially thought. White House Chief Medical Advisor Dr. Anthony Fauci said Sunday that the initial data on the variant is “encouragingHe said that it is possible to comprehend the message, although he warned that further information would be needed.

Investors also consider the probability that the Federal Reserve might begin to ease its enormous pandemic-easing policies sooner than they expected and increase rates.

Fed officials comment on the central bank is likely to decide to double the pace of its taper to $30 billion a month at its December meeting next week. The December meeting could be the beginning of initial discussions about how to increase interest rates next year and when.

Chris Larkin is E-Trade Financial’s managing director for trading. He stated, “Traders are likely to be at a crossroads following the markets roller coaster last week.” Omicron could be less of an issue, but the Fed could accelerate tightening. So we might see shifts in market.

Later this week, the market will be focusing on new inflation data. Fed may use consumer price inflation, expected to rise even higher than previous month, as a catalyst to tighten its policy more quickly.