Investors may want to keep an eye on vaccine stocks.
All as COVID cases rise.
“Nationally, Johns Hopkins University data show the seven-day moving average for new Covid-19 cases recently topped 73,000, up from near 27,000 a month earlier, though authorities acknowledge case counts are widely missing at-home test results. The average number of hospitalized patients with confirmed Covid-19, about 14,500, is up 44% from a mid-April low, according to federal data,” says The Wall Street Journal.
Worse, according to former White House Coronavirus Response Task Force coordinator, Dr. Deborah Birx said the U.S. should prepare for a summer surge of the virus. “It’s now predictable that the South will see surges in the summer and Northern states will see surges in the winter — especially around the holidays,” she added, as quoted by CNN.
Over in China, Shanghai is tightening its lockdown measures even more after Xi Jinping pledged to double down on the country’s zero-COVID policy.
“Under the new hardline policies, even residents with negative Covid tests can find themselves placed into centralized government quarantine. According to social media posts and local government notices circulating online, in several parts of the city, entire apartment blocks have been deemed a health risk, with all occupants forced from their homes and placed into quarantine on the back of one positive case,” says CNN.
All are raising COVID fears again, sending vaccine stocks screaming higher.BioNTech (BNTX), for example is up $5 on the day to $141.16. Moderna (MRNA) is up about $3 a share to $141.