The floor of the New York Stock Exchange is occupied by traders.
The week was marked by uncertainty over the Covid omicron variant and the futures rose more than 200 points Monday. The 30-stock average lost for the first time in four weeks. Friday's decline after the government's disappointing headline number on November jobs growth capped weekly drops of around 1% for the Dow and S&P 500 and almost 2% for the Nasdaq. The internals of the employment data were more reassuring than the initial losses had indicated. The S&P 500 was close to its latest record high closes achieved last month. The yield on the 10-year Treasury was above 1.4% early Monday. The benchmark yield was close to 1.7% in October. It went over that level in March. The year started under 1%.
3d image of graphs and charts.
After a bad weekend for the world's biggest coin, it traded under $49,000 on Monday. On Friday morning, it was around $57,000, but then fell more than 17% from Friday night into Saturday, hitting a low just under $43,000. As investors fled riskier assets over fears of what omicron could mean for the global economic recovery, the selling came as well.
The line chart has data points.
The chart has a time axis. The range is from the 11th of November to the 12th of December.
The chart has a Y axis. The range is 42500 to 60000.
Highcharts 9.0.1 was created on Nov 30th.
The interactive chart is over.
In early November, it was close to its all-time high of $69,000. On Monday, the world's second-largest coin traded under $4,000. It found its footing on Sunday after a slide of more than 16%. Last month, ether hit an all-time of more than $4,200.
The Chairman of the Federal Reserve Board waits for the beginning of a hearing before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill.
Recent comments from Fed officials suggest that the Federal Reserve is likely to double the pace of its asset purchases to $30 billion a month. When to raise interest rates and how much next year could be discussed. The Fed Chair changed his mind about the idea of a faster taper after he said that inflation could keep people out of work and make supply constraints worse. The central bank chief didn't do anything to convince the market that the current pricing of two rate hike rates was wrong. Next week is the Fed's final policy meeting of the year.
According to U.S. health officials, early indications suggest that the omicron variant may be less dangerous than the delta strain. The new variant of the coronaviruses, omicron, has been found in about one-third of the U.S. states less than two weeks after South Africa reported it. American officials continued to encourage people to get vaccinations and to take precautions such as wearing masks indoors. They said anything that helps protect against delta will also help protect against other variations.
A general view of the National Cross-Country centre during the FIS Continental Cup Nordic Combined 2021./2022, part of a Beijing Winter Olympic Games test event in Zhangjiakou city, China on December 5, 2021.
A senior administration official told NBC News that the Biden administration is going to boycott the Winter Olympics in Beijing in 2022. China has a poor record on human rights, according to supporters of such a step. No U.S. government officials would attend the games if there was a diplomatic boycott. If the U.S. proceeds, China will take "firm countermeasures". Chinese officials didn't give any information on how China might retaliate.
The Associated Press contributed to the report. You can follow the market action on CNBC Pro. CNBC has coverage of the coronaviruses.
CNBC is owned by NBCUniversal, which owns NBC Sports and NBC Olympics. NBC Olympics holds the US broadcast rights to the Summer and Winter Games.
