The Dow Market Happenings For Monday, November 29, 2021 – Caterpillar (CAT) +9.18% YTD

Dow stocks hitting 52-week highs include Procter & Gamble (PG). Dow stock 52-week lows include Disney (DIS), IBM (IBM) and Visa (V).

The Market

Premarket today, the Dow was indicated to open up +353 points.

Friday the Dow closed down -905.04 (-2.53%) at 34,899.34%.

Year-to-date the Dow is up +14.03%.

There was 1 Dow stock up Friday.

The Dow stock winner Friday was Verizon (VZ) 51.80 (+0.27%).

The Dow stock losers Friday were led by American Express (AXP) 156.82 (-8.62%), Boeing (BA) 199.21 (-5.41%), Caterpillar (CAT) 198.73 (-4.03%), Merck (MRK) 79.16 (-3.79%), Travelers (TRV) 153.66 (-3.34%) and Apple (AAPL) 156.81 (-3.17%).

The Dow, after Friday’s plunge, is set to bounce big to start the week as investors monitor the highly mutated Covid omicron variant.

The 10-year Treasury yield was up to over 1.54% and U.S. oil prices were up 5% to more than $71 per barrel.

White House chief medical advisor Dr. Anthony Fauci said Sunday that Americans need to be prepared to do “anything and everything” to fight omicron. The variant has several mutations to the spike protein that allows the virus to enter the body, and some of those mutations could lead to increased antibody resistance and transmissibility. However, Fauci said it will take about two weeks to have more definitive information on omicron’s transmissibility, severity and other characteristics.

The WHO urged countries around the world not to impose flight bans on southern African nations due to concerns over omicron. The U.S. plans to restrict travel for non-U.S. citizens from South Africa, Botswana, Zimbabwe, Namibia, Lesotho, Eswatini, Mozambique and Malawi. The variant has been found in the U.K., Israel, Belgium, the Netherlands, Germany, Italy, Australia and Hong Kong. However, omicron has yet to be found in America. Fearing new travel bans, airline stocks were crushed Friday. But they were bouncing higher in Monday’s premarket trading, along with the broader strength in stocks.

Vaccine makers, including Moderna, Pfizer and Johnson & Johnson, said they’re studying omicron even as it remains to be seen how the variant responds to current shots or whether new formulations are required. Moderna said it could roll out a reformulated vaccine early next year.

U.S. futures are higher, European stocks are higher and Asian markets ended lower.

The national average price of gasoline is unchanged at $3.394 per gallon.

Earnings Reports

Salesforce (CRM) reports earnings on 11/30/2021 after the close.

Today’s Featured Dow Stock

Caterpillar (CAT)

Caterpillar (CAT) 198.73 (-4.03%) is up +9.18% in 2021.

Financial Calendar

10:00 AM ET Fed Chair Powell Testifies
10:00 AM ET Pending Home Sales (MoM)
10:00 AM ET Pending Home Sales Index
10:00 AM ET Treasury Secretary Yellen Speaks
10:30 AM ET Dallas Fed Mfg Business Index
10:30 AM ET FOMC Member Williams Speaks
11:30 AM ET 3-Month Bill Auction
11:30 AM ET 6-Month Bill Auction
13:00 PM ET FOMC Member Clarida Speaks
15:00 PM ET FOMC Member Williams Speaks
15:05 PM ET FOMC Member Powell Speaks
17:05 PM ET FOMC Member Bowman Speaks

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