5 things you need to know before the stock market opens on Monday, January 31

Here are the key news, trends and analysis investors need to start their trading day:

US stock futures were mostly lower on Monday, heading into the last trading day of January. Despite Friday’s 2.4% rally, amid weeks of turmoil, the S&P 500 is heading for its worst month since March 2020, when the Covid pandemic was declared. Last Friday, the Dow Jones Industrial Average rose 564 points, or 1.7%, and the Nasdaq 3.1%. But like the S&P 500, the Dow is tracking its worst month since October 2020, and the Nasdaq is on pace for its worst month, dating all the way back to October 2008 in the throes of the financial crisis that led to the Great Recession. Friday’s rally pushed all three stock benchmarks into positive territory last week. However, the Nasdaq remained in a deep correction.

The government will release its latest employment report next Friday. While economists polled by Dow Jones expect 178,000 nonfarm payrolls added last month, there are questions about how the spread of the Covid omicron variant could affect the numbers. Brian Deese, chief economic adviser to President Joe Biden, told CNBC on Friday that the Covid case will peak in early January. could skew the employment data. The White House is denied access to sensitive economic data. However, Deese, director of the National Economic Council, and his collaborators are likely doing their own analysis.

Giant for audio streaming Spotify said Sunday it will add content advisories to material mentioning Covid, and will direct its users to public health sites for more information. Spotify is facing a falling share price as a result of backlash over its decision to continue broadcasting the popular podcast “The Joe Rogan Experience” despite concerns it is spreading misinformation about the coronavirus. On Sunday, Rogan posted a video to Instagram saying he agreed with the content recommendations for podcasts featuring Covid commentary. He also said he would be open to following guests with controversial opinions about Covid with other experts who have different views. Neil Young started boycotting Spotify last week.

Of oil prices trade near seven-year high amid political tensions in Eastern Europe, Biden is ready to meet Monday at the White House with the ruling leader of the oil-rich country Qatar. Biden hopes Qatar, which helped with US military evacuations in Afghanistan last summer, will help the West again as it faces the prospect of a European energy crisis if Russia invades Ukraine. The White House said the Biden-Qatar leader would also use Monday’s meeting to discuss the Middle East, the situation in Afghanistan and the US’s efforts to revive the 2015 Iran nuclear deal. .

— The Associated Press contributed to this report. Follow all market actions like a pro CNBC Pro. Get the latest news about the pandemic with CNBC’s Coronavirus Coverage.