Wall Street Watching Possible Impact Omicron Variant Has On Stocks

Without wider vaccine protection in place, experts say the virus will continue to mutate and produce variants that could be more infectious than omicron itself, and the pandemic will remain far from over. Several companies made outsized gains on a mix of corporate news. Supermarket chain Kroger jumped 11% for the biggest gain in the S&P 500 after raising its profit forecast for the year. Software maker Synopsys gained 4.6% after also giving investors an encouraging profit forecast.

Cruise line operators Carnival and Norwegian Cruise Line jumped 9.4% and 6.8%, respectively. OPEC and allied oil-producing countries have decided to maintain the amount of oil they pump to the world even as the new omicron variant potentially threatens the economy. Stocks rose broadly on Wall Street Thursday as investors continue to monitor the spread of the new coronavirus variant as well as measures that the U.S. and other governments are taking to restrain it.

Dont Plan To Say Goodbye To Omicron Just Yet

In the U.S., where vaccines first became available in December 2020, more than 100 million people remain unvaccinated and face heightened risk of severe illness, hospitalization and death. The broader market has been choppy all week and every major index is on track for a weekly loss as investors try to gauge the amount of damage the omicron variant of COVID-19 might inflict on the economy. Wall Street will likely remain jumpy until investors have more information on whether the latest variant is highly contagious and how well current vaccines will hold up.

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Institutional includes defined contribution and defined benefit plans (corporate, public, Taft-Hartley), foundations and endowments, insurers, corporate cash managers, consultants, and trust administrators/custodians. This portion of the Invesco website is specifically prepared for institutional investors in the US. Technology companies also rose, but the gains were crimped by a 0.5% drop from Apple after the iPhone maker reportedly warned suppliers that it is seeing weak demand ahead of the holiday season.

Moderna Aims To Submit Vaccine Data For Younger Children In March

This is part of the KHN Morning Briefing, a summary of health policy coverage from major news organizations. In the U.S., children under age 5 are not yet eligible for available COVID vaccines. Burton said that researchers at Moderna plan to have data ready for the Food and Drug Administration by March. At that point, federal regulators would need to vet the vaccine’s safety and efficacy data before deciding whether or not to authorize the vaccine for emergency use in some of the youngest children. Since November, when the World Health Organization alerted the global community about omicron, the variant has forced countries to rethink not only their outlook for the pandemic and how they’re responding, but about why getting to high levels of vaccination around the world remains key to gaining control. Separately, an Israeli study finds that a second booster shot of the Pfizer-BioNTech covid vaccine lowers the worst risks of covid by as much as 76% over just a single booster.

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In December, Pfizer, said it needed to recalibrate its doses for younger children after clinical trials revealed insufficient protection against the virus in children between ages 2 and 5. Researchers are studying the efficacy of three doses instead of two in younger children. Crude oil prices rose after OPEC decided to maintain its production levels. This week, Moderna and Pfizer, both leading producers of two-shot mRNA COVID-19 vaccines, launched trials https://xcritical.com/ to develop omicron-specific boosters. “It’s on us, as Moderna, to make sure that we have a vaccine available that can cover omicron as well as delta and other variants,” Burton said. Dr. Paul Burton told the PBS NewsHour’s chief correspondent and substitute anchor Amna Nawaz that the variant, which accounts for nearly all new infections in the U.S. and has dominated much of the world, will not vanish after the current surge in cases subsides.

Summaries Of Health Policy Coverage From Major News Organizations

Thank you for your interest in supporting Kaiser Health News , the nation’s leading nonprofit newsroom focused on health and health policy. We distribute our journalism for free and without advertising through media partners of all sizes and in communities large and small. We appreciate all forms of engagement from our readers and listeners, and welcome your support. In low-income countries, just one out of 10 individuals are estimated to have received their first vaccine dose so far – much lower rates than seen in high-income countries.

Expanding vaccine access at this point in the pandemic, Burton said local distribution played a greater role than companies producing enough doses. The latest coronavirus variant has led countries to impose barriers to travel and stricter restrictions on business and people. Concerns about global restrictions potentially crimping economic growth butted up against concerns about rising inflation this week. The persistence of rising inflation has prompted the Federal Reserve to consider withdrawing stimulus measures sooner than expected. Travel-related companies, which got hammered earlier this week as worries about the new coronavirus variant swept markets, rebounded Thursday. American Airlines climbed 6.5%, while Delta Air Lines rose 9.1%.

Things To Expect On Covid Vaccines This Year, According To Modernas Chief Medical Officer

By checking the box and clicking continue, I confirm that I am an US Institutional Investor. Boeing rose 7.1% after China’s aviation regulator cleared the airplane maker’s 737 Max to Who can profit from Omicron return to flying with technical upgrades. “The data that we’ve had in older children has been very reassuring. It shows excellent effectiveness, so I would be hopeful,” he said.

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Smaller company stocks, which have lost the most ground this week, had some of the strongest gains, sending the Russell 2000 index 2.8% higher. Southeast Asia’s largest ride-hailing company Grab fell 22.8% in its market debut Thursday, following a $40 billion merger in a special purpose acquisition company deal. The index has been on a roller coaster ride throughout the week. It was up as much as 1.9% Wednesday before skidding and closing 1.2% lower. Here are three takeaways about how Moderna sees the challenges around developing vaccines for the youngest and most vulnerable populations, both in the U.S. and around the world, and how omicron is raising the stakes. The content and investment strategies discussed may not be suitable for and/or available to all investors.

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