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Covid vaccinations hit another record, average now above 3 million daily
(PUBLISHED SAT, APR 3 20215:45 PM EDT)
~ The U.S. is now administering more than 3 million new Covid vaccine shots daily, based on a seven-day average of CDC data.
~ On Saturday, the public-health agency reported a record 4.1 million new doses were given.
The U.S. reported on Saturday another daily record of new Covid vaccine doses administered, pushing the weekly average of new shots per day above 3 million, according to data compiled by the Centers for Disease Control and Prevention.
The public-health agency on Saturday reported 4.1 million new doses were given, the highest daily mark since the Food and Drug Administration cleared vaccines for emergency use late last year.
About 104.2 million U.S. residents, or 31% of the population, have received at least one vaccine dose, according to the CDC, while 59.9 million people, or 18% of the population, are fully vaccinated. Pfizer and Moderna’s vaccines require two doses for full immunity protection; Johnson & Johnson’s vaccine, which received limited clearance in late February, is a single-shot regime.
Three-quarters of U.S. residents who are age 65 and older have received at least one vaccine dose, CDC data shows, providing crucial protection against the disease to a vulnerable group of Americans. As of March 31, nearly 81% of the country’s Covid deaths have occurred in people age 65 and up.
The rise in daily vaccine doses administered comes as available supply increases and eligibility is expanded across the nation. In states such as Texas, Kansas and Ohio, all residents age 16 and older are now able to get the vaccine.
The vaccine milestone Saturday arrives against a somewhat mixed picture for coronavirus cases and deaths in the past week. The country’s seven-day average of new daily infections sits at 64,617, up 6% compared with a week ago, according to a CNBC analysis of Johns Hopkins University data. Cases are growing in 26 states, plus Washington D.C., CNBC’s analysis shows.
However, the U.S. weekly average of new deaths per day is down 12% to 847.
President Joe Biden has urged the country to continue remaining vigilant around coronavirus spread despite significant progress on the vaccine rollout. “Too many Americans are acting as if this fight is over,” Biden said Friday. “It is not.”
Also on Friday, the CDC said people who have been fully vaccinated against Covid can travel at “low risk to themselves,” while still stressing the need to wear a mask and maintain physical distance.
“We continue to encourage every American to get vaccinated as soon as it’s their turn, so we can begin to safely take steps back to our everyday lives,” CDC Director Dr. Rochelle Walensky said in a statement that accompanied the guidance change. “Vaccines can help us return to the things we love about life, so we encourage every American to get vaccinated as soon as they have the opportunity.”
U.S. says 165 million doses of COVID-19 vaccine been administered so far
(April 5, 20212:17 AMUpdated 6 hours ago)
(Reuters) - The United States has administered more than 165 million doses of COVID-19 vaccines in the country as of Sunday morning and distributed nearly 208 million, the U.S. Centers for Disease Control and Prevention (CDC) said on Sunday.
That is up from the 161,688,422 vaccine doses the CDC said had gone into arms by Saturday out of 207,866,645 doses delivered.
The agency said 106,214,924 people had received at least one vaccine dose, while 61,416,536 people have been fully vaccinated as of Sunday.
The CDC tally includes two-dose vaccines from Moderna Inc and Pfizer/BioNTech,, as well Johnson & Johnson’s one-shot vaccine as of 6:00 a.m. ET on Sunday.
A total of 7,742,126 vaccine doses have been administered in long-term care facilities, the agency said.
U.S. stocks climbed to record highs on Monday as a strong bounce in U.S. job growth and solid data in the services sector raised expectations for a swift economic recovery from the pandemic.
The Dow Jones Industrial Average rose 373.98 points to 33,527.19, a record closing high. The S&P 500 gained 1.4% to 4,077.91, also hitting a new record close. The tech-heavy Nasdaq Composite also climbed 1.7% to 13,705.59.
The Labor Department reported Friday that nonfarm payrolls increased by 916,000 in March, the highest since August 2020, while the unemployment rate fell to 6%. Economists surveyed by Dow Jones were expecting an increase of 675,000 and a jobless rate of 6%.
Meanwhile, a measure of U.S. services industry activity soared to a record high in March. The Institute for Supply Management’s non-manufacturing activity index jumped to a reading of 63.7 last month, the highest level in the survey’s history.
“A ‘Capital V’ recovery that is in the early innings,” said Tony Dwyer, Canaccord Genuity’s chief market strategist. “The only thing that could stand in the way would be another shutdown of the economy to contain new Covid-19 strains or a policy mistake by the Fed. Neither appear imminent.”
Tesla shares popped more than 4% as the electric vehicle company reported production and delivery figures that broadly beat expectations.
GameStop shares cut their double-digit losses and closed down about 2% after the video game retailer said it may sell up to $1 billion worth of stock.
Classic reopening plays like airlines and cruise operators outperformed. Delta Airlines and United jumped more than 2% each, while Carnival and Norwegian Cruise Line gained 4.7% and 7.2%, respectively.
Bond yields, whose sudden advance spooked some investors in recent weeks, continued to ease. The 10-year Treasury yield fell slightly to 1.71% on Monday.
“We expect equities and other risk assets to be supported by the new nominal — a more muted response of government yields to stronger growth and higher inflation than in the past as central banks lean against any sharp yield rises,” Wei Li, global chief investment strategist at BlackRock, said in a note.
The stock market is building on its recent strength after President Joe Biden introduced his multitrillion-dollar infrastructure proposal, which focuses on rebuilding roads, bridges and airports, expanding broadband access and boosting electric vehicle use and updating the country’s electric grid. The plan will be funded partly by a hike in the corporate tax rate to 28%.
Treasury Secretary Janet Yellen on Monday pushed for a global minimum corporate tax in an effort to keep companies from relocating to find lower rates.
However, Biden’s plan faces opposition among Republicans as the $2 trillion plan includes initiatives that they say extend beyond traditional infrastructure issues.
Republican Sen. Roy Blunt of Missouri on Sunday urged the Biden administration to pare back the package to roughly $615 billion and concentrate on physical infrastructure such as roads and airports.
Senate Minority Leader Mitch McConnell, R-Ky., said last week that Biden’s plan would not receive Republican support and vowed to oppose the broader Democratic agenda.
On the pandemic front, the U.S. reported another daily record of new Covid vaccinations Saturday, pushing the weekly average of new shots per day above 3 million.
Fundstrat’s Tom Lee explains why he expects a ‘face-ripper rally’ in April
(PUBLISHED MON, APR 5 20216:37 PM EDT)
~ “I think there’s a level of surprise coming in April because we already had a strong finish beginning Wednesday of last week,” Fundstrat’s Tom Lee told CNBC on Monday.
~ Lee said he believes the S&P 500 could rally roughly 3% by the end of the month.
Tom Lee said Monday he expects the stock market’s strong start to April to continue throughout the month as part of what he’s previously dubbed a “face-ripper rally.”
The co-founder of Fundstrat Global Advisors made his case in an interview on CNBC’s “Fast Money,” following the S&P 500′s 1.4% gain Monday to notch a record close of 4,077.91.
“Institutions raised almost $200 billion of cash since the start of the year, so they’ve turned quite cautious, and they’ve been fading or selling their tech and growth holdings but they’ve only just begun to nibble on the ... epicenter [stocks],” said Lee, whose firm considers those to be companies that were among the hardest-hit in the pandemic but stand to gain from the economic recovery.
“So, I think there’s a level of surprise coming in April because we already had a strong finish beginning Wednesday of last week. It’s really three days of strong rallies and history shows this is really building up to be what could be a, potentially, S&P 4,200 before the end of the month,” Lee said.
The broad equity index reaching that level would represent roughly 3% upside from Monday’s close.
Additionally, Lee said it would make the April rally “something that is both really strong but, more importantly, quite a big surprise for institutions.”
As for what happens after a so-called face-ripper rally, Lee said there could be a period of choppy trading.
“I think if the S&P does in fact rally strongly this month at a time when institutions are sitting on so much cash and there’s so much skepticism on this market, we could see a big chase and that could mark the high for the year,” he said. “I wouldn’t say that’s our base case, but yes, we would have to consolidate these gains.”
JPMorgan’s Dimon Says ‘This Boom Could Easily Run Into 2023’
(April 7, 2021, 6:10 PM GMT+8Updated on April 7, 2021, 9:39 PM GMT+8)
Jamie Dimon said he’s optimistic the pandemic will end with a U.S. economic rebound that could last at least two years.
“I have little doubt that with excess savings, new stimulus savings, huge deficit spending, more QE, a new potential infrastructure bill, a successful vaccine and euphoria around the end of the pandemic, the U.S. economy will likely boom,” the JPMorgan Chase & Co. chief executive officer said Wednesday in his annual letter to shareholders. “This boom could easily run into 2023.”
Unprecedented federal rescue programs have blunted unemployment and averted further economic deterioration, according to Dimon, who said banks entered the crisis strong and able to help communities weather the storm. While lenders also benefited from U.S. stimulus, they built up buffers against future loan losses and performed well in stress tests, he said.
Dimon also pointed to U.S. consumers, who used stimulus checks to reduce debt to the lowest level in 40 years and stashed them in savings, giving them -- like corporations -- an “extraordinary” amount of spending power once lockdowns end. The latest round of quantitative easing measures will have created more than $3 trillion in deposits at U.S. banks, a portion of which can be lent out, he said.
It could all add up to a Goldilocks moment, according to Dimon, where growth is fast and sustained while inflation ticks up gently. Threats to that outcome include virus variants and a rapid or sustained jump in inflation that prompts rates to rise sooner.
At 65, Dimon is the most prominent executive in global banking, serving as a spokesman for the industry while leading a titan of both Wall Street and consumer lending. He’s run the company since the end of 2005, and is the only CEO still at the helm after steering a major bank through the financial crisis.
The 65-page letter (plus a page of footnotes) is Dimon’s longest yet, following last year’s abbreviated one that came less than a week after he returned to work from emergency heart surgery. As always, it is wide-ranging, touching on topics from financial regulation to China to inequality and institutional racism.
