The opening of a new week of trading on Wall Street brings declines for all indices, which are sinking after news of more national lockdowns, rising cases of the Omicron variant and a delayed US infrastructure bill that has been postponed until 2022. Additionally, Democratic Senator Joe Manchin has announced that he will not support a major social spending plan, putting the US president's flagship bill into question. The Build Back Better Act is a broad social and climate spending package that is considered a key pillar of Mr Biden's agenda.
The US100 starts the new trading week with declines, and the index is currently testing the support set by the EMA 100 (purple line) and the 50% Fibonacci retracement. Close to this level there is also a key support level determined by the long-term uptrend line. Source: xStation 5
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Moderna (MRNA.US) shares jump nearly 7.2% ahead of the start of US trading after news that receiving a booster vaccine increases protection against the Omicron variant.
Moderna (MRNA.US) share price started Monday's session on Wall Street with a bullish price gap, thus breaking out above the resistance set by EMA 50 (blue line) and EMA 100 (purple line). Now it seems that the key support will be the level coinciding with these moving averages. Source: xStation 5
Losses are being reported by major cruise line companies, which are losing out due to the rising incidence of the Omicron variant. Royal Caribben (RCL.US) stocks are down 2.9%, Carnvial (CCL.US) is down 2.9% and Norwegian Cruise Line (NCLX.US) is losing 3.6% before the session open.
The weak atmosphere also affected airlines, which are losing due to the epidemic threat. United Airlines (UAL.US) shares are down 2.9%, American Airlines (AAL.US) is diving 2.8% and Delta Air Lines (DAL.US) is weakening 2.7%, to name a few.
Biogen (BIIB.US) gains 3.7% following a 50% price cut in the drug Aduhelm, which treats Alzheimer's disease. The discount is expected to increase the drug's availability to those in need.
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