Published on 8 Dec 2021 on Benzinga

Technology Stocks Join The Bounce As Much Needed Breadth Is Added

Stocks look to add to Tuesday’s gains as equity index futures are pointing higher before the open. However, there’s some uneasiness as President Joe Biden warns that Russia could invade Ukraine. According to The Wall Street Journal, Russia has had an unusual amount of troop movement near its Ukrainian border. Many believe that President Putin is posturing because he wants to push through Russia’s Nord Stream 2 natural gas pipeline into Europe, but Ukraine is blocking its development. European natural gas price rose about 6% overnight and U.S. natural gas futures (/NG) are trading 4.18% higher before the open.

Outside of these tensions, Pfizer (NYSE: PFE) and BioNTech (NASDAQ: BNTX) released information showing that they won’t need to change their vaccine for the Omicron variant and that a third dose of the vaccine offers the protection people need. Pfizer rallied 0.73% on the news before the open but BioNTech was down 0.59% in premarket trading.