US futures are indicating a lower open as of 05:00 ET. European equity markets are lower following mixed Asian trade. Sentiment has deteriorated after Moderna's CEO predicted existing vaccines will struggle with the new Covid variant Omicron and warned it would take months before new jabs can be manufactured at scale. The focus is also on Fed Chair Powell's comments, who said that the Omicron variant poses downside risks to economic activity and increased uncertainty for inflation. Company's mentioned: Moderna, Pfizer (NYSE:PFE), BioNTech, Lululemon, Peloton
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