“To date, there is no evidence that the incidents are caused by the vaccine and it is important that vaccination campaigns continue so that we can save lives and contain serious illnesses from the virus,” the World Health Organization said in a statement to CNN.
Pauses occur when a third wave of infections swells over the continent. Italians are back under restrictions as the government tries to contain a recent spike in cases, forcing plans to be canceled at Easter.
Grumbling about vaccine launches will only exacerbate these gaps – particularly with the United States, which does not depend on the injection of AstraZeneca for its vaccination campaign. Millions more Americans will be eligible to receive vaccines this week, as many states expand their pools.
“Faster progress on vaccine implantation in all countries would allow restrictions to be lifted more quickly and increase confidence and spending. Slow progress in vaccine implantation and the emergence of new virus mutations resistant to existing vaccines would result in a weaker recovery, greater job losses and more business failures, “warned the OECD in its report.
The disparity is occurring in all markets. Europe’s Stoxx 600 index was stable on Monday, while the S&P 500 gained almost 0.7%, reaching another historic high.
American Airlines shares rose 7.7%, while Delta saw shares rise more than 2%. JetBlue jumped almost 6%.
What comes next: European stocks are rising on Tuesday, while investors are waiting for more information on how long the suspensions will last. The European Commission also announced that Pfizer will accelerate the delivery of 10 million doses to the pack this semester.
The newest Investing star is going through a difficult month
But sponsors will need resolution to deal with the distressing volatility of their company’s ARK-listed funds, reports my CNN business colleague Paul R. La Monica.
The most recent: the ARK Innovation ETF, which has Tesla as its main stake, has embarked on a wild journey in recent times. Tesla represents more than 10% of the fund’s assets – so Wood’s success is closely aligned with what the market thinks of CEO Elon Musk.
Tesla has soared in recent days, but is still about 20% below its record. This means that the ARK Innovation ETF rose more than 15% in the past week – but it continues to drop dramatically from its 52-week high.
Huge fluctuations have also hit other ARK ETFs that focus on autonomous and robotic technology, genomics, next-generation Internet services and fintech. The company also plans to launch a space exploration ETF.
But Wood and his colleagues embrace the volatility that accompanies investment in high-growth stocks. Ren Leggi, the company’s customer portfolio manager, told CNN Business that the recent moves to banks, oil stocks and retailers – which investors believe are undervalued because of the pandemic – are just a “short-term rotation”.
“The value industries are becoming increasingly vulnerable to disruptions,” said Leggi, noting that Wood and the rest of the ARK team are thinking about investments over a five to ten year horizon.
He added that ARK is more than willing to place bets on companies it believes in, should its stock prices fall – seeing an opportunity to haggle.
“If there are shifts in the market and big sales, that doesn’t scare us,” said Leggi. “It excites us, because you can buy good stock at a lower price.”
Ray Dalio thinks the market dynamics “have become stupid”
Ray Dalio, the billionaire founder of Bridgewater Associates, has a few well-chosen words about the wisdom of investing in government bonds now.
His opinion: “Instead of receiving less than inflation, why not buy things – anything – that equal inflation or better?”
Dalio acknowledges that there is a “bubble dynamic” in the financial markets thanks to the unprecedented stimulus efforts by central banks.
“There is so much money injected into the markets and the economy that markets are like a casino with people playing with funny money,” he writes. “They are buying all kinds of things and cutting back on everything.”
Dalio avoids judging recent political decisions, calling himself a “practical” investor just “trying to stay one step ahead of the crowd”.
What this means: according to Dalio, investors should avoid money and instead “buy investment assets with no debt and a higher return”. In other words, things can be complicated – but he still thinks it’s time to spend.
Next
US retail sales for February were posted at 8:30 am ET, followed by industrial production data at 9:15 am ET.
Tomorrow: the Federal Reserve’s latest political decision will be closely watched – especially President Jerome Powell’s press conference after the announcement.