Vir Biotechnology, Digital World Acquisition, Apple: What to Watch in

On Dec 2, 2021

U.S. stock futures rose, suggesting markets were set for another seesaw day driven by uncertainty regarding the potential impact of the Omicron Covid-19 variant. Here’s what we’re watching in Thursday’s trading session:

Travel and leisure stocks extended their recent oscillations from Omicron variant jitters, rising premarket with stronger risk appetite. Cruise stocks Royal Caribbean Group and Norwegian Cruise Line Holdings gained 2.8% and 3.5%, respectively premarket. Delta Air Lines added 3% premarket, and United Airlines Holdings rose 2.7%.
Shares of Vir Biotechnology jumped almost 10% premarket after a Covid-19 antibody treatment developed by it and GlaxoSmithKline was effective against the Omicron variant in early laboratory studies, the companies said, setting it apart from similar therapies that appear to work less well against the highly mutated strain.
WeWork shares edged down 0.7% premarket after the office-sharing company said in a securities filing that it would restate several quarters of its results, including its latest one, and that management has concluded there was a material weakness in its internal control.

Shares of Apple fell 2% premarket after Bloomberg News reported that the company told suppliers that demand for the iPhone 13 lineup has weakened.
Shares of Digital World Acquisition , a special-purpose acquisition company that has agreed to merge with a media property being developed by former President Donald Trump, surged more than 20% premarket. Reuters reported that the entity is seeking to raise up to $1 billion.
Shares of Moderna fell 3.8% premarket. On Wednesday, it lost part of its court appeal seeking to invalidate patents held by another company, Arbutus Biopharma , whose shares are up almost 15% ahead of Thursday’s trading session.
Snowflake shares climbed 14% after it said revenue more than doubled in the latest period and the cloud-computing-services company issued a bullish outlook.

Chart of the Day

U.S. government-bond yields have climbed a lot this year. Some analysts are concerned that they haven’t risen even further.

Write to Caitlin Ostroff at caitlin.ostroff@wsj.com