The Omicron Variant Measures Could Have Investors On A Flight To Quality

The Omicron Variant Measures Could Have Investors On A Flight To Quality

Stock index futures are mixed ahead of the open while investors try to digest yesterday's selloff. Heavy selling into the close is often seen as a bad sign for stocks, so some positive movement is good if it can hold. The S&P 500 (SPX) broke support yesterday by trading below its August high. Additionally, the index broke below its 50-day moving average. Many technical analysts will see these events as a bearish sign for stocks, at least in the short-term. The Nasdaq Composite (COMP:GIDS) is testing its 50-day moving average and probably won't get any help from Apple (AAPL) today. Apple is trading almost 3% lower on news that the company told its suppliers that demand for the iPhone 13 is lower-than-expected. This is the second warning this year from Apple on its iPhone 13 product. However, its not all bad for tech stocks. Snowflake (SNOW) was moving nearly 14% higher in premarket trading. The company reported higher-than-expected earnings and revenue and provided brighter future earnings guidance. The Dow Jones Industrial Average ($DJI) could get a boost from its component Boeing BA (BA) which was rising 5. 19% higher in premarket trading. The Chinese aviation authority issued a positive review