10 things before the opening bell

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1. Omicron and the US economy. The new virus variant — which has now spread to one-third of US states — may end up stemming the inflationary tide that's gripped the economy. That's according to UBS chief economist Paul Donovan, who thinks renewed virus fears could stifle consumer demand.

More simply: Omicron could slow the economy and bring down the breakneck pace of inflation with it.

Similarly, Goldman Sachs just lowered its forecast for US GDP growth in 2022. The bank thinks weakening demand for services could lower prices in sectors like travel and tourism, but it also said Omicron could delay recovery for labor supply. All of this could pump the brakes on rising costs throughout the country.

Messages are still mixed, however, and analysts are divided on Omicron's effect on the recovery trajectory. JPMorgan for its part recommended buying the Omicron market dip as the new variant could hasten the end of the pandemic.

With reports that individuals infected with the Omicron variant have experienced mild symptoms, investors are still hoping that the overall impact to the global economy is low.

2. Stocks are climbing as investors take heart from signs Omicron is milder than feared. The Dow looks set to build on Monday's hefty rebound with another 350-point jump, while oil is also getting a lift. Here are the latest moves on the market.

3. This JPMorgan portfolio manager said he isn't panicking over Omicron or inflation. Phil Camporeale, who has beat 90% of peers in the past decade, is planning to stay in stocks despite recent volatility. He shared the four sectors investors should have exposure to in 2022.

4. Earnings on deck: AutoZone, Sentinel One, and Toll Brothers, all reporting.

5. JPMorgan shared the stocks with the highest correlation to bitcoin and ethereum. The list includes public companies like crypto miners and exchange providers that have high exposure to the cryptocurrency space. See the bank's list of the nine most correlated stocks.

6. The SEC is investigating Tesla over whistleblower complaints about solar panel defects. The EV company's stock fell as much as 6% in Monday trading following the news. Per the report, Tesla didn't fully disclose liability details to shareholders.

7. Hype around the metaverse drove NFT-linked tokens up 42% in November. That makes the particular corner of the market the best-performing cryptocurrency sector. Even Tom Brady is getting in on the trend with a new set of NFTs.

8. AMC is offering NFTs to shareholders of the theatre chain's stock. The move comes after the success of its Spider-Man giveaway, when it offered 86,000 NFTs to early ticket buyers. CEO Adam Aron took to Twitter to announce AMC's second NFT launch.

9. Two real-estate experts shared the top US cities to buy a house in. They also broke down the benefits of investing in property outside of your home state. Florida and Texas are on their list of the best housing markets right now. See their full list here.

10. UBS expects disruptive technologies to outpace Big Tech stocks like Apple and Tesla over the next five years. In its latest report, the world's largest wealth manager recommends seeking "the next big thing" among new technologies. Insider broke down UBS's four picks for investors.

Compiled by Phil Rosen. Feedback? Email prosen@insider.com or tweet @philrosenn.

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