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• 10-year Treasury note rate jumped 3.5 basis points to 1.538 percent
• Dow futures climbed more than 150 points on first trading day of 2022
U.S stock futures surged on the first trading day of 2022 as investors are keeping an eye on the economy’s capacity to withstand the Omicron variant of coronavirus and other variables that might impact the stock market this year.
Dow Jones Industrial Average futures climbed 0.50 percent on Monday. The S&P 500 futures gained 0.61 percent, while the Nasdaq futures advanced 0.74 percent.
The futures movement came as markets finished off a solid last week of 2021. The S&P 500 increased about 27% for the year, while the Nasdaq Composite and Dow also increased significantly.
While some investors believe that inflation, which hit a 39-year high in November, has peaked, others are concerned that Omicron may prolong supply-chain disruptions, putting more pressure on pricing, WSJ reported.
Tesla shares rose 7.02% in premarket trading after Elon Musk's electric-car firm claimed yearly vehicle deliveries increased by 87 percent in 2021.
The new year begins with more uncertainty about the Covid-19 pandemic. The omicron variety contributed to thousands of flight cancellations throughout the holiday season. For the first three weeks of January, several corporations have urged employees to work from home.
Bond Market
The benchmark 10-year Treasury note rate jumped 3.5 basis points to 1.538 percent. The 30-year Treasury bond yield gained 3 basis points to 1.918 percent.
Oil Prices
Brent crude futures, the global oil benchmark climbed 0.4 percent to $78.16 a barrel. WTI Crude oil prices surged 0.19 percent to $75.40 per barrel.
Picture Credits: Business Insider