There were many of distractions this week, from Crypto.com Arena to Adele’s new album, from the more sobering news that Covid-19 is rearing its spiky head once again, prompting lockdowns, moving markets, and increasing the urgency around the launch of booster shots. Here’s a quick rundown of what’s new.
Unleash the booster shots: The CDC announced that anyone 18 and older can obtain a booster shot if they received their second dose of the Pfizer or Moderna vaccine at least six months ago.
Due to concerns about escalating case numbers in the last two weeks, 12 states had already opened up boosters to all adults. Boosters restore immunity against symptomatic infections to roughly 95%, according to a study by Pfizer and BioNTech.
Austria has become the first country in Western Europe to reimpose a full lockdown, which will begin on Monday and continue at least ten days. Austria has one of the lowest vaccination rates in Western Europe (about 64 percent, still higher than the United States), and one of the highest infection rates on the continent.
Germany isn’t ruling out the possibility of another curfew. A increase in cases has prompted the country’s health minister to declare a national emergency.
The price of oil is falling: Oil prices fell to a six-week low yesterday after news of Austria’s lockdown broke, as investors worried that demand for fuel might dry up if Covid spread. While decreasing oil prices are welcome comfort for Americans who pay an average of $3.41 per gallon at the pump, it may take some time for cheaper oil costs to reach your local Hess.
The value of travel stocks is decreasing: Carnival, United, and American Airlines all had their stock prices drop this week as a result of…all of the above.
Looking forward…ascending Cases of covid do not appear to be deterring Americans from returning home for Thanksgiving. The TSA anticipates the number of airline passengers to virtually match 2019 levels during Thanksgiving week.