Stock futures slightly higher
U.S. stock futures were slightly higher on Wednesday morning after stocks posted the biggest gain in nine months during the previous session, amid optimism that the omicron Covid variant isn’t going to hurt the global economic recovery.
At around 5:35 a.m. ET, futures tied to the blue-chip Dow Jones were up 11 points, or 0.03% to 35,724. S&P 500 futures gained 6 points, or 0.13% to 4,691 while the tech-heavy Nasdaq 100 futures added 48.25 points, or 0.3% to 16,366.25.
On Wednesday, the Dow rallied 492.40 points, or 1.40% to finish the session at 35,719.43. S&P 500 climbed 95.08 points, or 2.07% to 4,686.75 while the Nasdaq Composite surged 461.76 points, or 3.03% to 15,686.92.
Pfizer, BioNTech say their vaccines neutralize Omicron with three shots
Meanwhile, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) said early Wednesday that a laboratory test showed that two doses of their Covid vaccine offered protection against the omicron variant, while three doses neutralized the variant.
Pfizer and BioNTech said that tests of blood from people who got only two doses experienced more than a 25-fold reduction in antibody levels against Omicron compared to a previous variant of the virus.
According to the companies, the test suggests that two doses alone “may not be sufficient to protect against infection” by the new variant. The drugmakers indicated that they could deliver an Omicron-based vaccine in March next year if needed.
“Ensuring as many people as possible are fully vaccinated with the first two dose series and a booster remains the best course of action to prevent the spread of COVID-19,” Pfizer CEO Albert Bourla said in a press release.
Robinhood jumps after filing to terminate share sale from early investors
In other news, Robinhood (NASDAQ: HOOD) popped before Wednesday’s opening bell after the company announced Tuesday that it is seeking a termination of the resale of its common shares by certain early shareholders including affiliates of venture capital firms Ribbit and Andreessen Horowitz.
Robinhood said it had been under a contractual obligation to allow those investors to resell some of their stakes but is now seeking a termination since the obligation had expired.
The shares accrued to their holders upon automatic conversion of some of Robinhood’s debt in connection with its initial public offering. Robinhood made its Wall Street this year and offered each share at $38.
As of writing, shares of the online discount brokerage 70 cents, or 3.08% to $23.43 apiece in the premarket trading session.
