Written by Brenda Nakalema

Stocks to watch as market heads into Christmas closure

Stock futures are trading higher in anticipation of the final trading session before the Christmas holiday. Here’s what to keep …

Stock futures are trading higher in anticipation of the final trading session before the Christmas holiday. Here’s what to keep an eye on;

Novax (Ticker: NVAX) -3.64% gained 2% premarket after it was reported that its two-dose Covid- 19 vaccine demonstrated “strong immune responses” against Omicron and other variants. On the other hand, Moderna (Ticker: MRNA) -1.63%, dropped by 0.8%.

Shares of JD.com (Ticker: JD) -6.05% traded in the U.S markets dropped 6.7% ahead of the bell. Tencent, the Chinese social media giant, is selling most of its stake in JD.com. Tencent claims the e-commerce company has grown to a point where it no longer requires financial backing.

Biotech firm, Allakos (Ticker: ALLK +23.29%) rose 13% premarket. This seemed like exciting news until the stock closed down 90% the previous day. The decline was caused by an announcement made by the company stating that two of its studies hadn’t achieved statistical significance on patient-reported symptomatic co-primary endpoints.

Despite Omicron related fear, Airline shares were rising steadily amid the holiday travel season that is expected to be busy. United Airlines (Ticker: UAL) +0.76% rose 1.3%, Delta Airlines (Ticker: DAL) +0.77% added 1.1% and American Airlines gained 1.4%.

The positive performance followed into the cruise operators’ shares which also gained. Carnival (Ticker: CCL) -0.05% gained 1.5%, Royal Caribbean (Ticker: RCL) -0.13% rose 1.2% and Norwegian Cruise Line Holdings (Ticker: NCLH) +0.27%, rose 2.1%.

Citigroup (Ticker: C) +1.01% rose 0.6% in pre-market trading. In showing its determination to move forward with the strategy to exit most of its retail operations in Asia, the bank agreed to sell its consumer banking business in the Philippines.

Hertz (Ticker: HTZ) +4.93% shares gained by 2.3% premarket. In the company’s chapter 11 restructuring, bondholders’ requests for early repayment premiums and interest payments were trimmed.