By Staff Reporters
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The U.S. Food and Drug Administration authorized and approved updated COVID boosters on Monday amid rising cases and hospitalizations across the country. The boosters made by Pfizer-BioNTech and Moderna, were formulated to target variants that are currently circulating, which are related to XBB – an offshoot of the omicron variant.
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- The US economy is in a “rolling recession” and a full-blown downturn looms, Liz Ann Sonders says.
- Weakness in consumer goods and manufacturing is being offset by strength in services, she noted.
- Charles Schwab’s chief investment strategist doesn’t expect a bunch of interest—rate cuts in 2024.
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Here is where the major benchmarks ended:
- The S&P 500 Index was up 29.97 points (0.7%) at 4,487.46; the Dow Jones Industrial Average (DJIA) was up 87.13 points (0.3%) at 34,663.72; the NASDAQ Composite was up 156.37 points (1.1%) at 13,917.89.
- The 10-year Treasury note yield (TNX) was up about 3 basis points at 4.29%.
- CBOE’s Volatility Index (VIX) was down 0.03 at 13.81.
The consumer discretionary sector, which includes stocks like Tesla and Amazon (AMZN), gained nearly 3% and ended at an eight-week high. Health care and utilities were also higher. Energy shares dropped as crude oil futures eased, but oil prices remained near 10-month highs.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Drugs and Pharma, Ethics, Health Economics, Health Insurance, Health Law & Policy, iMBA, Inc., Investing | Tagged: AMZN, BioNTech, CBOE, covid, covid booster, DJIA, DOW, FDA, Food Drug Administration, Liz Ann Sonders, Moderna, NASDAQ, omicron, Pfizer, recession, rolling recession, Russell 2000, S&P 500, stock markets, TNX, VIX, XBB | Leave a comment »