Stock futures, oil spike, indicating further swings due to Omicron uncertainty

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WSJ.com: Markets

US stock futures and oil prices rose, suggesting markets would offset some of the losses caused by concerns about the Omicron variant and the withdrawal of the Federal Reserve’s incentives.

Investors have little to do in assessing whether the option will lead to renewed restrictions in the US and elsewhere, and if so, how governments and central banks would react to shore up the economy. Although drug makers have said the variant first identified in southern Africa looks like it may make existing vaccines less effective, they expect to be able to update the vaccinations. Investors say a return to full lockdowns is unlikely.

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