Dow Futures Rise 240 Pts; Kohl’s in Focus on Sale Report By Investing.com – Investing.com

Dow Futures Rise 240 Pts; Kohl’s in Focus on Sale Report By Investing.com – Investing.com

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening mixed Monday, with tech stocks underperforming as investors reposition after the Federal Reserve’s hawkish turn.

At 7 AM ET (1200 GMT), the contract was up 240 points, or 0.7%, traded 18 points, or 0.4%, higher, while dropped 22 points, or 0.1%.

The major indices all slipped back last week as investors digested the potential economic damage from the Omicron Covid-19 variant as well as the Federal Reserve indicating it could speed up its tapering later this month given the high rate of inflation. 

The recorded a fourth straight negative week for the first time since September 2020, while the and the were both down for a second consecutive week.

The Omicron variant of the coronavirus has spread to about one-third of U.S. states, U.S. health officials said on Sunday, but early indications suggest the symptoms associated with this variant could be relatively mild.

President Joe Biden’s chief medical advisor Anthony Fauci told CNN in a weekend interview that “it doesn’t look like there’s a great degree of severity to it,” adding that existing vaccines appear to offer a still-high degree of