Wall Street indexes opened lower as Omicron fears returned to the fore after vaccine makers suggested current shots might not be as effective against the new variant. Here’s what we’re watching in Tuesday’s trading:
- It has become a familiar tale this week: Investors get tetchy over Omicron, and crude, cruise lines and airlines lose ground, while pandemic favorites like Peloton and vaccine makers advance. All of the above were in evidence on Tuesday. Occidental Petroleum , American Airlines and Carnival were down in early trading. Meanwhile, Peloton and Novavax inched higher.
- The FDA could authorize Covid-19 boosters from Pfizer and BioNTech for use in 16- and 17-year olds as soon as next week.
- Moderna ’s CEO said current shots are likely to struggle against the Omicron variant.
- Hospitality shares were also caught in the pullback, including Marriott International and Host Hotels & Resorts .