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Tag: Biotechnology

  • This fund beats the S&P 500 by using just 75 of its components. Here’s how it works.

    This fund beats the S&P 500 by using just 75 of its components. Here’s how it works.

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    What worked well during the years-long bull market through 2021 — a focus on growth, regardless of price — has ground to a halt this year. The rebirth of the value style of investing — and modest valuations overall — has taken hold.

    The approach taken by the Invesco S&P 500 GARP ETF has paid off through both bull and bear markets.

    Let’s begin with a 10-year chart comparing total returns with dividends reinvested for the Invesco S&P 500 GARP ETF
    SPGP,
    +0.67%

    and the SPDR S&P 500 ETF Trust
    SPY,
    +0.78%
    ,
    which tracks the benchmark S&P 500:


    FactSet

    So far this year, SPGP is down 12%, while SPY is down 16%. But the long-term chart shows significant and consistent outperformance for SPGP, even during the bull market.

    The S&P 500 GARP Index

    GARP stands for “growth at a reasonable price.” SPGP tracks the S&P 500 GARP Index, which is reconstituted and rebalanced twice a year, on the third Fridays of June and December. The next change occurs Dec. 16.

    S&P Dow Jones Indices assigns a growth score to each component of the S&P 500 by averaging the three-year compound annual growth rate (CAGR) for earnings and sales per share.

    The top 150 components of the S&P 500 by growth score are eligible for inclusion in the GARP index. Those 150 are ranked by “quality/value composite score,” which is the average of these three ratios:

    • Financial leverage — total debt to book value.

    • Return on equity — trailing 12 months’ earnings per share divided by book value per share.

    • Earnings-to-price — 12 months’ earnings per share divided by the share price.

    The top 75 of the 150 by QV rankings are then included in the GARP index and weighted by the growth score, with portfolio weightings ranging from 0.5% to 5%.

    There is a weighting limitation of 40% to any one of the 11 S&P sectors.

    Addressing concentration risk

    The benchmark S&P 500 Index
    SPX,
    +0.75%

    is weighted by market capitalization, which means it is more heavily concentrated than you might expect — success is rewarded, with rising stocks more heavily weighted over time.

    That can backfire during a bear market, with Amazon.com Inc.
    AMZN,
    +2.14%

    down 47% and Tesla Inc.
    TSLA,
    -0.34%

    down 51% this year, to name two prominent examples.

    Looking at the SPDR S&P 500 ETF Trust
    SPY,
    +0.78%
    ,
    which is the first and largest exchange traded fund and tracks the benchmark index by holding all of its components, six companies (Apple Inc.
    AAPL,
    +1.21%
    ,
    Microsoft Corp.
    MSFT,
    +1.24%
    ,
    Amazon, both common share classes of Alphabet Inc.
    GOOGL,
    -1.30%

     
    GOOG,
    -1.26%

    and Berkshire Hathaway Inc.
    BRK.B,
    +0.06%

    ) make up 19.2% of the portfolio.

    That percentage has come down this year, but a lot of risk remains concentrated in a handful of companies. (Apple alone makes up 6.4% of the SPY portfolio. Tesla is now the ninth-largest holding, making up 1.4% of the portfolio.)

    One way to address high concentration in an index fund is to use an equal-weighted approach, which Mark Hulbert recently discussed.

    For the Invesco S&P 500 GARP ETF, the underlying index’s selection methodology has resulted in much less portfolio concentration than we see in SPY, with the top five holdings making up 10.9% of the portfolio.

    Here are the 10 largest holdings of SPGP:

    Company

    Ticker

    Share of portfolio

    Regeneron Pharmaceuticals, Inc.

    REGN,
    +0.15%
    2.49%

    Cigna Corporation

    CI,
    +0.39%
    2.26%

    Everest Re Group, Ltd.

    RE,
    +0.24%
    2.21%

    Vertex Pharmaceuticals Incorporated

    VRTX,
    +1.18%
    1.98%

    D.R. Horton, Inc.

    DHI,
    -0.39%
    1.97%

    Expeditors International of Washington, Inc.

    EXPD,
    +0.23%
    1.96%

    Incyte Corporation

    INCY,
    +0.10%
    1.92%

    Goldman Sachs Group, Inc.

    GS,
    -0.51%
    1.83%

    Ebay Inc.

    EBAY,
    +1.67%
    1.81%

    Pfizer Inc.

    PFE,
    +3.07%
    1.73%

    Source: FactSet

    Click on the tickers for more information about any company, ETF or index in this article.

    You should also read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

    Don’t miss: 10 Dividend Aristocrat stocks expected by analysts to rise up to 54% in 2023

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  • Ex-Theranos exec ‘Sunny’ Balwani sentenced to nearly 13 years in prison

    Ex-Theranos exec ‘Sunny’ Balwani sentenced to nearly 13 years in prison

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    SAN JOSE, Calif. — A judge on Wednesday sentenced former Theranos executive Ramesh “Sunny” Balwani to nearly 13 years in prison for his role in the company’s blood-testing hoax — a sentence slightly longer than that given to the CEO, who was his lover and accomplice in one of Silicon Valley’s biggest scandals.

    Balwani was convicted in July of fraud and conspiracy connected to the company’s bogus medical technology that duped investors and endangered patients. His sentencing came less than three weeks after Elizabeth Holmes, the company’s founder and CEO, received more than 11 years in prison for her part in the scheme.

    The scandal revolved around the company’s false claims to have developed a device that could scan for hundreds of diseases and other potential problems with just a few drops of blood taken with a finger prick.

    The case threw a bright light on Silicon Valley’s dark side, exposing how its culture of hype and boundless ambition could veer into lies.

    Holmes, 38, could have gotten up to 20 years in prison — a penalty that U.S. District Judge Edward Davila could have imposed on Balwani, who spent six years as Theranos’ chief operating officer while remaining romantically involved with Holmes until a bitter split in 2016.

    While on the witness stand in her trial, Holmes accused Balwani, 57, of manipulating her through years of emotional and sexual abuse. Balwani’s attorney has denied the allegations.

    The two trials had somewhat different outcomes. Unlike Balwani, Holmes was acquitted on several charges of defrauding and conspiring against people who paid for Theranos blood tests that produced misleading results and could have pointed patients toward the wrong treatment. The jury in Holmes’ trial also deadlocked on three charges.

    Balwani was convicted on all 12 felony counts, and his lawyers sought a far more lenient sentence of just four to 10 months in prison. Prosecutors for the Justice Department asked for 15 years. A probation report recommended nine years.

    Duncan Levin, a former federal prosecutor who is now a defense attorney, described Balwani’s bid for a light sentence as “utterly unrealistic.” Levin suspects the judge may give greater weight to the Justice Department and the probation office recommendations, which mirror the sentences those agencies sought for Holmes.

    The judge ultimately gave her 11 1/4 years in prison and recommended that the sentence be served in a low-security facility in Byran, Texas.

    Federal prosecutors also want the judge to order Balwani to pay $804 million in restitution to defrauded investors — the same amount sought from Holmes. Davila deferred a decision on restitution during Holmes’ Nov. 18 sentencing until an unspecified future date.

    In court documents, Balwani’s lawyers painted him as a hardworking immigrant who moved from India to the U.S. during the 1980s to become the first member of his family to attend college. He graduated from the University of Texas in 1990 with a degree in information systems.

    He later moved to Silicon Valley, where he first worked as a computer programmer for Microsoft before founding an online startup that he sold for millions of dollars during the dot-com boom of the 1990s.

    Balwani and Holmes met around the same time she dropped out of Stanford University to start Theranos in 2003. He became enthralled with her and her quest to revolutionize health care.

    Balwani’s lawyers said he eventually invested about $5 million in a stake in Theranos that eventually became worth about $500 million on paper — a fraction of Holmes’ one-time fortune of of $4.5 billion.

    That wealth evaporated after Theranos began to unravel in 2015 amid revelations that its blood-testing technology never worked as Holmes had boasted in glowing magazine articles that likened her to Silicon Valley visionaries such as Apple co-founder Steve Jobs.

    Before Theranos’ downfall, Holmes teamed up with Balwani to raise nearly $1 billion from deep-pocketed investors that included software mogul Larry Ellison and media magnate Rupert Murdoch.

    “Mr. Balwani is not the same as Elizabeth Holmes,” his lawyers wrote in a memo to the judge. “”He actually invested millions of dollars of his own money; he never sought fame or recognition; and he has a long history of quietly giving to those less fortunate.” Balwani’s lawyers also asserted that Holmes “was dramatically more culpable” for the Theranos fraud.

    Echoing similar claims made by Holmes’s lawyers before her sentencing, Balwani’s attorneys also argued that he has been adequately punished by the intense media coverage of Theranos, which has been the subject of a book, documentary and award-winning TV series.

    Balwani “has lost his career, his reputation and his ability to meaningfully work again,” his lawyers wrote.

    Federal prosecutors cast Balwani as a ruthless, power-hungry accomplice in crimes that ripped off investors and imperiled people who received flawed results. The blood tests were to be available in a partnership with Walgreen’s that Balwani helped engineer.

    “Balwani presented a fake story about Theranos’ technology and financial stability day after day in meeting after meeting,” the prosecutors wrote in their memo to the judge. “Balwani maintained this façade of accomplishments, after making the calculated decision that honesty would destroy Theranos.”

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  • Most Americans aren’t worrying about COVID this holiday season

    Most Americans aren’t worrying about COVID this holiday season

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    More than 80% of people in the U.S. say, “We are in a better place than we were a year ago,” according to the Axios/Ipsos Coronavirus index, as many say they have returned to their pre-COVID routines.

    Only one-third of those polled say they wear a mask some or all of the time in public even as the holiday season hits full swing and COVID infections and hospitalizations are rising in the U.S.

    “With majorities getting out and about and only about 1 in 4 saying they’re taking steps to avoid COVID or the flu, for most people this is going to be a COVID worry- free holiday,” Cliff Young, president of Ipsos U.S. Public Affairs, told Axios.

    Another poll tracking COVID sentiment in the U.S. showed that concern about the virus was low among all age groups in November — though not as low as it was earlier this fall.

    COVID news to know:

    • China loosens more COVID restrictions; worries about Chinese deaths persist. The country said Wednesday that mass testing will no longer occur in regions that aren’t high risk, people with mild symptoms can isolate at home instead of quarantine centers, and authorities cannot block fire escapes and public exits in locked-down areas, according to the New York Times. However, there are concerns that loosening restrictions could lead to 1 million deaths in China this winter, based on predictions from Wigram Capital Advisors, the Financial Times reported

    • Did political ideology interfere with the U.S. COVID response? Dr. Anthony Fauci, chief medical officer to President Joe Biden, told NBC’s “Nightly News” that “the degree of divisiveness in this country right now has really led to such a polarization that it has interfered with an adequate science-based public health response.” Fauci is set to retire this year. 

    • Vaccines reduce the risk of long COVID. A new analysis, published Tuesday in the Antimicrobial Stewardship & Healthcare Epidemiology by researchers at the University of Iowa, examined a handful of medical studies and found that people who had received at least one dose of a COVID vaccine had a long COVID prevalence rate of 37.6%, compared with 39.1% among the unvaccinated. That’s from data gathered from about 250,000 people in four countries.

    • COVID cases continue to rise across the U.S. The daily average of new infections is up about 28% over the last two weeks, according to a New York Times tracker. There were at least 54,000 new cases on Tuesday, while about 34,000 people are currently hospitalized with COVID. The number of people being treated in intensive care units has also increased, by 21% over the last two weeks, with about 4,100 people with COVID in ICU beds. 

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  • U.S. COVID cases are climbing again as new omicron variants spread

    U.S. COVID cases are climbing again as new omicron variants spread

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    COVID-19 cases and hospitalizations in the U.S. are rising and intensive-care-unit beds are being filled again, in a trend that may spell an end to the stable period the country experienced during the fall months.

    The daily average of new cases was up 22% on Thursday from two weeks ago, to 49,070, according to a New York Times tracker. Cases are rising in 40 states, led by Oklahoma, where they are up 89% from two weeks ago.

    The daily average for hospitalizations is up 21% from two weeks ago to 33,708, although as always, the trend is not uniform across the nation. Louisiana is the state with the highest increase in hospitalizations, up 109% from two weeks ago, followed by California, where they have climbed 66%.

    Visits to the ICU are up 17%, while test-positivity rates are up 29%, to 10%, the tracker shows. On a brighter note, the daily average for deaths is down 3% to 274. 

    Experts are warning that new omicron subvariants are on the rise and are quickly replacing earlier ones.

    The most recent data release from the Centers for Disease Control and Prevention showed that the BQ.1.1 and BQ.1 sublineages of BA.5 accounted for 62.8% of all cases in the U.S. in the week through Dec. 3, exceeding the 13.8% of cases caused by BA.5.

    That was up from 57.3% of cases in the week through Nov. 26, when 19.4% of cases were caused by BA.5.

    In the New York region, which includes New Jersey, Puerto Rico and the U.S. Virgin Islands, those numbers were even higher, with BQ.1 and BQ.1.1 accounting for 72.4% of all cases, compared with 6.9% for BA.5.

    That was up from the prior week, when BQ.1 and BQ.1.1 accounted for 70.8% of all cases, compared with 10.4% for BA.5.

    See now: Elon Musk may want employees back in the office, but 29% of Americans still work from home

    For now, the new sublineages have not been shown to be likely to cause more severe disease than earlier ones, but they are more transmissible, which is why they have become dominant.

    Experts continue to urge people to get their updated booster, which is the best protection against developing severe COVID or dying of it.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Local governments in China are facing a new challenge in the battle against COVID: They are running out of cash needed to finance mass testing and enforce quarantines, CNN reported on Friday. The zero-COVID policy kept China out of recession in 2020, but now the bills are mounting, placing financial strain on municipal authorities across the world’s most populous nation, said CNN. For nearly three years, local governments have borne the brunt of enforcing pandemic controls. 

    • Former NBA star Jeremy Lin, who plays for a Chinese team, was fined 10,000 yuan ($1,400) for criticizing quarantine facilities, according to China’s professional league and a news report Friday, the AP reported. The ruling Communist Party is trying to crush criticism of the human cost and disruption of its zero-COVID strategy, which has confined millions of people to their homes.

    Large protests erupted across China as crowds voiced their frustration over nearly three years of COVID-19 controls. Here’s how a deadly fire in Xinjiang sparked domestic upheaval and a political dilemma for Xi Jinping’s leadership. Photo: Thomas Peter/Reuters

    • Formula One confirmed Friday that the Chinese Grand Prix will not take place in 2023, making it the fourth year in a row the race has been canceled because of the coronavirus pandemic, the AP reported separately. “Formula One can confirm, following dialogue with the promoter and relevant authorities, that the 2023 Chinese Grand Prix will not take place due to the ongoing difficulties presented by the COVID-19 situation,” Formula One said in a statement.

    • German doctors are warning that pediatric units are stretched to the breaking point in some hospitals in part due to rising cases of respiratory infections among infants, the AP reported. The intensive-care association DIVI said the seasonal surge in cases of respiratory syncytial virus and a shortage of nurses was causing a “catastrophic situation” in hospitals. RSV is a common, highly contagious virus that infects nearly all babies and toddlers by age 2, some of whom can fall seriously ill. Experts say the easing of coronavirus pandemic restrictions means RSV is currently affecting a larger number of babies and children whose immune systems aren’t primed to fend off the infection.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 644.1 million on Friday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.9 million cases and 1,081,147 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 39.7 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.7% of the overall population.

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  • Chinese cities announce further easing of COVID curbs, though police are still patrolling streets to stop protests

    Chinese cities announce further easing of COVID curbs, though police are still patrolling streets to stop protests

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    Major Chinese cities on Thursday announced a further easing of COVID restrictions, as police continued to patrol streets to avert protests and the ruling Communist Party prepared for the funeral of late leader Jiang Zemin.

    Guangzhou in the south, Shijiazhuang in the north, Chengdu in the southwest and other major cities announced they were easing testing requirements and controls on movement, as the Associated Press reported. In some areas, markets and bus service has reopened.

    In Beijing, officials will let those infected patients who are at low risk to quarantine at home for a week, rather than in a government center, Bloomberg reported, citing unnamed sources.

     China has required anyone with any degree of COVID to stay at those sites to cut transmission. The first signs of the shift have been seen in the heavily populated Chaoyang district, home to foreign embassies and offices.

    Read now: Protests against strict COVID-zero policy are sweeping China but there is no sign yet of a national political movement

    Beijing is hoping to avoid more protests, while resources are also getting thin, those sources said. However, anyone wanting to isolate at home will have to provide a written guarantee to stay at home, with a magnetized alarm fitted on their door that will alert authorized if they try to leave, one source said. Bloomberg was unable to confirm the reports with officials from Beijing or its health department.

    Large protests erupted across China as crowds voiced their frustration at nearly three years of Covid-19 controls. Here’s how a deadly fire in Xinjiang sparked domestic upheaval and a political dilemma for Xi Jinping’s leadership. Photo: Thomas Peter/Reuters

    The World Health Organization’s weekly update shows the global tally of cases was flat in the week through Nov. 27 from the week earlier. The number of fatalities fell by 5% from the previous week.

    Japan again led the world by new cases, with an 18% increase to 698,772. It was followed by South Korea, where cases rose 4% to 378,751 and the U.S., where they rose 8% to 296,882.

    Omicron and its many subvariants and sublineages remained dominant in the period from Oct. 28 to Nov. 28, accounting for 99.9% of sequences reported to a central database. The BA.5 omicron subvariant and its sublineages were dominant in the week through Nov. 13 at 73.% of all sequences, and newer strains, including BQ. 1 and XBB continued to spread in November, the agency said.

    In the U.S., known cases of COVID are rising again with the daily average standing at 45,219 on Wednesday, according to a New York Times tracker, up 15% from two weeks ago. Cases are now rising in 37 states from two weeks ago, as well as in Guam and Washington, D.C., led by Georgia, where they are up 60%, and California, where they have climbed 57%.

    The daily average for hospitalizations was up 16% at 32,445, but again, the pace of the increase is not uniform across the country. Louisiana has the highest increase in hospitalizations at 99% from two weeks ago, followed by California, where they are up 62%.

    The daily average for deaths is down 7% at 262.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the coming winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Nineteen people, including 17 New York City and New York state public employees, were charged in a federal complaint unsealed Wednesday with submitting fraudulent applications for funds intended to help small businesses survive the coronavirus pandemic, the AP reported. The accused, including employees of New York City’s police department, correction department and public school system, listed themselves as owners of businesses that in some cases did not exist in their applications for funds through the Small Business Administration’s Economic Injury Disaster Loan program and Paycheck Protection Program, federal prosecutors in Manhattan said. The defendants collectively stole more than $1.5 million from the SBA and financial institutions that issued SBA-guaranteed loans, prosecutors said.

    • The number of people in Europe with undiagnosed HIV has risen as testing rates fell during the pandemic, threatening a global goal of ending the disease by 2030, Reuters reported, citing a report from the WHO and European Center for Disease Prevention and Control. The report found that in 2021 a quarter fewer HIV diagnoses were recorded compared to pre-pandemic levels in the WHO’s European region.

    • Republican Gov. Jim Justice said Wednesday that West Virginia’s state of emergency related to the COVID-19 pandemic will end at the start of the new year, the AP reported. The state of emergency has been in effect since March 16, 2020. It allows the governor to suspend certain rules on personnel and purchasing. “The truth is, the state of emergency doesn’t affect a whole lot, you know, anymore,” he said. “We absolutely declared an emergency at a time that we had an emergency. … Now, we need to move on.”

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 643.4 million on Thursday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.8 million cases and 1,080,444 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 37.6 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.1% of the overall population.

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  • Smithsonian Science Education Center Launches New Biotechnology Guide and E-Book for Youth

    Smithsonian Science Education Center Launches New Biotechnology Guide and E-Book for Youth

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    Press Release


    Nov 29, 2022

    The Smithsonian Science Education Center, in collaboration with the InterAcademy Partnership (IAP), has developed Biotechnology! How can we ethically create a sustainable future using biotechnology?, a new community research guide for youth ages 11-18. Based on the UN Sustainable Development Goals, it aims to help young people assess the potential of biotechnology while considering the best ways to navigate risks and concerns, ultimately taking action to help solve problems in their local community.  

    In this guide, young people explore the question, “How can we utilize biotechnology innovations to help advance our community sustainably and ethically?” The guide includes new research, activities and perspectives from subject matter experts across a range of fields, from biosecurity to medicine and food systems. It integrates inquiry-based science education with social and emotional learning and civic engagement. Students generate customized solutions for the challenges in their community and contribute to a more sustainable planet.

    “As youth around the globe engage with their communities, they may ask many questions: How do we use technology to treat diseases, engineer foods, keep us safe? How do we ensure these advances are equitable and ethical?” said Carol O’Donnell, director of the Smithsonian Science Education Center. “This community response guide encourages young people to discover, understand and act on sustainable approaches to complex questions and create change within their own communities. It is an important step forward in the Smithsonian Science Education Center’s effort to create and promote a transdisciplinary approach to STEM Education for Sustainable Development, in line with the Smithsonian Institution’s mission to promote life on a sustainable planet.” 

    As a companion to the Biotechnology! guide, Smithsonian Science Education Center is releasing a new e-book, Stories of Women in STEM – Biotechnology. As the latest entry in the Stories of Women in STEM e-book series, this new e-book features biographies of trailblazing women who made history through their scientific discoveries and innovation in biotechnology. From biochemist and Nobel Prize-winner Jennifer Doudna to Kenyan crop researcher Felister Makini, the e-book explores the roles women have played in advancing science, technology, engineering and math fields.

    “As a young girl, it is so important to see yourself in the role models around you and in the stories you read,” O’Donnell said. “If you can see yourself in others, then you will believe you can do it, too. I hope when young people read the stories of these amazing women in biotechnology, they can ‘see’ their future selves, and strive to be the best they can be.”

    The SSEC will disseminate the free guide and e-book in collaboration with InterAcademy Partnership

    Biotechnology! How can we ethically create a sustainable future using biotechnology? and Stories of Women in STEM – Biotechnology are made possible through the support of Johnson & Johnson.

    Source: Smithsonian Science Education Center

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  • U.S. criticizes China’s zero Covid strategy, says Beijing needs to boost vaccination among elderly

    U.S. criticizes China’s zero Covid strategy, says Beijing needs to boost vaccination among elderly

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    People hold white sheets of paper and flowers in a row as police check their IDs during a protest over coronavirus disease (COVID-19) restrictions in mainland China, during a commemoration of the victims of a fire in Urumqi, in Hong Kong, China November 28, 2022. 

    Tyrone Siu | Reuters

    The White House on Monday criticized Beijing’s zero Covid strategy as ineffective and said the Chinese people have a right to peacefully protest.

    “We’ve long said everyone has the right to peacefully protest, here in the United States and around the world. This includes in the PRC,” a spokesperson for President Joe Biden’s National Security Council said in a statement.

    Rare protests broke out against Covid lockdowns in Beijing, Shanghai, Urumqi and other cities over the weekend. Nearly three years after the virus first emerged in Wuhan, China is still imposing strict social controls to quash Covid outbreaks, while countries such as the U.S. have largely returned to normal life.

    “We’ve said that zero COVID is not a policy we pursuing here in the United States,” the NSC spokesperson said. “And as we’ve said, we think it’s going to be very difficult for the People’s Republic of China to be able to contain this virus through their zero COVID strategy.”

    The U.S. Covid response is focused on increasing vaccination rates and making testing and treatment more accessible, the spokesperson said.

    China’s stringent Covid controls have kept deaths very low compared to the U.S., but the measures have also deeply disrupted economic and social life. In China, more than 30,000 people have died from Covid since the pandemic began, according to the World Health Organization. In the U.S., more than 1 million people have died.

    Dr. Anthony Fauci, the top infectious disease expert in the U.S., said China’s approach to Covid “doesn’t make public health sense.” Vaccination rates among the elderly, one of the groups most vulnerable to Covid, are low in China compared to other countries. The vaccination campaign in China focused on people in critical positions first, those ages 18 to 59 next, and only then people ages 60 and over.

    “If you look at the prevalence of vaccinations among the elderly, that it was almost counterproductive, the people you really needed to protect were not getting protected,” Fauci told NBC’s Meet the Press on Sunday.  A temporary lockdown might make sense if the goal was to buy time to boost vaccination rates but China doesn’t seem to be doing that, he said.

    “It seems that in China, it was just a very, very strict extraordinary lockdown where you lock people in the house but without any seemingly endgame to it,” Fauci said.

    As of August, about 86% of people ages 60 and older in China were fully vaccinated and 68% had received a booster, according to a September report from China’s Center for Disease Control and Prevention. By comparison, 92% of older Americans were fully vaccinated and 70% had received a booster during that same period.

    Fauci said China’s domestically developed vaccines are also not very effective.

    The authors of the China CDC report said older people are more skeptical of the vaccine. The clinical trials didn’t enroll enough older people and as a consequence there wasn’t sufficient data on the vaccine’s safety and efficacy for this age group when the immunization campaign started, they wrote.

    Dr. Ashish Jha, head of the White House Covid task force, said China should focus on making sure the elderly get vaccinated.

    “That I think is the path out of this virus. Lockdowns and zero COVID is going to be very difficult to sustain,” Jha told ABC’s “This Week” on Sunday.

    CNBC Health & Science

    Read CNBC’s latest global health coverage:

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  • China’s zero-COVID strategy makes no sense and its homegrown vaccines are not ‘particularly effective,’ says  Fauci

    China’s zero-COVID strategy makes no sense and its homegrown vaccines are not ‘particularly effective,’ says Fauci

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    Widespread protests across China over the government’s zero-COVID policy dominated pandemic headlines Monday, with Anthony Fauci, President Joe Biden’s chief medical adviser, weighing in with the view that the strategy does not make public-health sense. 

    China’s biggest challenge is low vaccination rates — and a vaccine that has not been “particularly effective at all” compared with the ones being used in the West that are made by Pfizer
    PFE,
    +0.50%

    and its German partner BioNTech 
    BNTX,
    +5.68%

    and by Moderna
    MRNA,
    +1.08%
    ,
    said Fauci, who is retiring next month.

    Fauci recalled that when New York hospitals were overwhelmed by COVID cases three years ago, the decision was made to introduce restrictions, such as social distancing and shutdowns, to help flatten the curve of infections. But he noted that it was a temporary move aimed at buying time to get more people vaccinated and move personal protective equipment to where it was needed.

    The first vaccine was distributed in the U.S. in December 2020.

    Read: U.S. stock futures fall as Chinese protests rattle markets, oil hits 2022 low

    “It seems that in China, it was just a very, very strict, extraordinary lockdown where you lock people in the house, but without, seemingly, any endgame to it,” said Fauci, who is also head of the National Institute of Allergy and Infectious Diseases. 

    Fauci said one mistake the Chinese government has made is to refuse outside vaccines. “But also, interestingly, they did not, for reasons that I don’t fully appreciate, protect the elderly by making sure the elderly got vaccinated,” he said. “So if you look at the prevalence of vaccinations among the elderly, that was almost counterproductive. The people you really needed to protect were not getting protected.”

    The protests have roiled financial markets and caused oil prices to erase their entire year-to-date gain. In a highly unusual move, protesters in Shanghai called for China’s powerful leader Xi Jinping to resign, an unprecedented rebuke as authorities in at least eight cities struggled Sunday to suppress demonstrations that represent a rare direct challenge to the ruling Communist Party, as the Associated Press reported.

    The BBC said reporter Ed Lawrence, who was arrested while covering protests, was beaten and kicked by police while in custody.

    “We have had no explanation or apology from the Chinese authorities, beyond a claim by the officials who later released him that they had arrested him for his own good in case he caught COVID from the crowd,” the broadcaster said in a statement. “We do not consider this a credible explanation.”

    For more, see: BBC says official explanation for journalist arrest in China is that he was detained to prevent contraction of COVID

    See also: China protests are biggest threat to Communist Party rule since Tiananmen Square, Kyle Bass says

    In a rare show of defiance, crowds in China gathered for a third night as protests against COVID restrictions spread to Beijing, Shanghai and other cities. People held blank sheets of paper, symbolizing censorship, and demanded that the Chinese president, Xi Jinping, step down. Photo: Noel Celis/Agence France-Presse/Getty Images

    In the U.S., known cases of COVID are rising again with the daily average standing at 41,997 on Sunday, according to a New York Times tracker, up 6% from two weeks ago.

    Cases are currently rising in 22 states, plus Washington, D.C., and Guam, but are falling elsewhere.

    The daily average for hospitalizations is up 4% to 29,053. Hospitalizations are rising in 23 states, the tracker shows.

    The daily average for deaths is up 4% to 330.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • The World Health Organization said Monday it is recommending the term “mpox” as a new name for monkeypox disease and that it would use both names for a year while “monkeypox” is phased out. “When the outbreak of monkeypox expanded earlier this year, racist and stigmatizing language online, in other settings and in some communities was observed and reported to WHO,” the agency said in a statement. “In several meetings, public and private, a number of individuals and countries raised concerns and asked WHO to propose a way forward to change the name.” The WHO has responsibility for assigning names to new — and exceptionally, to existing — diseases, under the International Classification of Diseases and the WHO Family of International Health Related Classifications through a consultative process that includes WHO member states, it explained. The new name was decided upon following consultations with global experts, it said. 

    Residents in Shanghai received the world’s first inhaled COVID-19 vaccine by taking sips from a cup. WSJ’s Dan Strumpf explains how the new type of vaccine works and what it means for China’s reopening. Photo: Associated Press/Shanghai Media Group

    • Unrest at one of China’s biggest manufacturing centers may cause a production shortfall this year of possibly 6 million Apple iPhone Pros, according to a source cited by Bloomberg. The Foxconn Technology 2354 facility in Zhengzhou, which makes the majority of Apple’s premium phones, has been struggling for weeks as workers rebel against COVID lockdown policies. Apple 
    AAPL,
    -2.13%

    recently lowered its overall production target from 90 million units to 87 million units. However, Foxconn believes it can make up any shortfall from Zhengzhou in 2023.

    • A blood-thinning drug called Apixaban, which has been used for patients recovering from COVID, does not work and can cause major bleeding, according to new research reported by the Guardian. The anticoagulant, given to patients when they are discharged from a hospital after being treated for moderate or severe COVID, is widely used by hospitals across the U.K.’s National Health Service. However, the government-funded Heal-Covid trial has found that the drug does not work. Charlotte Summers, the chief investigator of the trial, said: “These first findings from Heal-Covid show us that a blood-thinning drug, commonly thought to be a useful intervention in the post-hospital phase, is actually ineffective at stopping people dying or being readmitted to hospital.”

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 641.6 million on Monday, while the death toll rose above 6.63 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.6 million cases and 1,079,199 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.4 million people living in the U.S., equal to 68.8% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 37.6 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 12.1% of the overall population.

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  • Omicron boosters probably aren’t very effective against mild Covid illness, but will likely prevent hospitalizations, experts say

    Omicron boosters probably aren’t very effective against mild Covid illness, but will likely prevent hospitalizations, experts say

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    A healthcare worker administers a dose of the Pfizer-BioNTech Covid-19 vaccine at a vaccination clinic in the Peabody Institute Library in Peabody, Massachusetts, U.S., on Wednesday, Jan. 26, 2022.

    Vanessa Leroy | Bloomberg | Getty Images

    The new omicron Covid boosters probably aren’t very effective at preventing Covid infections and mild illness, but they will likely help keep the elderly and other vulnerable groups out of the hospital this winter, experts say.

    The Centers for Disease Control and Prevention, in a real-world study published this week, found the boosters are less than 50% effective against mild illness across almost all adult age groups when compared to people who are unvaccinated.

    For seniors, the booster was 19% effective at preventing mild illness when administered as their fourth dose, compared to the unvaccinated. It was 23% effective against mild illness when given as their fifth dose.

    Though the vaccine’s effectiveness against mild illness was low, people who received the boosters were better off than those who did not. The booster increased people’s protection against mild illness by 28% to 56% compared to those who only received the old shots, depending on age and when they received their last dose.

    The Food and Drug Administration authorized the boosters in late August with the goal of restoring the high levels of protection the vaccines demonstrated in late 2020 and early 2021. At that time, the shots were more than 90% effective against infection. But the first real-world data from the CDC indicates that the boosters aren’t meeting those high expectations.

    “The boosters give you some additional protection but it’s not that strong, and you shouldn’t rely on it as your sole protective device against infection,” said John Moore, a professor of microbiology and immunology at Weill Cornell Medical College.

    Moore said people at higher risk from Covid have every reason to get a booster since it modestly increases protection. But he said common sense measures such as masking and avoiding large crowds remain important tools for vulnerable groups since the boosters aren’t highly effective against infection.

    The CDC study looked at more than 360,000 adults with healthy immune systems who tested for Covid at retail pharmacies from September to November when omicron BA.5 was dominant. The participants received either the booster, got two or more doses of the old shots or they were unvaccinated. It then compared those who tested positive for Covid with those who did not.

    The study did not evaluate how well the boosters performed against severe disease, so it’s still unclear whether they will provide better protection against hospitalization than the old shots. The CDC in a statement said it will provide data on more severe outcomes when it becomes available.

    CNBC Health & Science

    Read CNBC’s latest global health coverage:

    Andrew Pekosz, a virologist at Johns Hopkins University, said the fact that the shots are providing some protection against infection in an era of highly immune evasive omicron subvariants is a good sign that they will provide strong protection against hospitalization. The vaccines have always performed better against severe disease than mild illness, he said.

    “It’s better than nothing. Certainly, it doesn’t sort of show that the protection is incredibly high against infection,” Pekosz said. “I would expect that you would then see even greater protection from hospitalization or death.”

    Dr. Paul Offit, a member of the FDA’s vaccine advisory committee, said trying to prevent mild illness is not a viable public health strategy because the antibodies that block infection simply wane over time.

    “Protection against mild disease just isn’t that good in the omicron subvariant era. The goal is protecting against severe disease,” said Offit, an infectious disease expert at Children’s Hospital of Philadelphia who helped develop the rotavirus vaccine.

    Dr. Celine Gounder, a senior public health fellow at the Kaiser Family Foundation, said she’s not alarmed by the data. Reducing risk by even a modest amount at the individual level can have a significant positive effect on public health at the population level.

    “If you can reduce risk among the elderly by even 30%, even 20%, that is significant when 90% of the COVID deaths are occurring in that group,” Gounder said. “For me, what’s really gonna matter is are you keeping that 65 year old out of the hospital.”

    The boosters, called bivalent vaccines, target both omicron BA.5 and the original Covid strain that first emerged in Wuhan, China in 2019. The original shots, called monovalent vaccines, only include the first Covid strain.

    It’s still unclear how the boosters will perform against more immune evasive omicron subvariants, such as BQ.1 and BQ.1.1, which are now dominant in the U.S. Pfizer and Moderna last week said early clinical trial data shows the boosters induce an immune response against these subvariants.

    About 11% of those eligible for the new booster, or 35 million people, have received it so far, according to CDC data. About 30% of seniors have received the shot.

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  • Omicron BQ Covid variants, which threaten people with compromised immune systems, are now dominant in U.S.

    Omicron BQ Covid variants, which threaten people with compromised immune systems, are now dominant in U.S.

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    A person receives a coronavirus disease (COVID-19) test as the Omicron coronavirus variant continues to spread in Manhattan, New York City, U.S., December 22, 2021.

    Andrew Kelly | Reuters

    The omicron BQ coronavirus subvariants have risen to dominance in the U.S. as people gather and travel for the Thanksgiving holiday, putting people with compromised immune systems at increased risk.

    BQ.1 and BQ.1.1 are causing 57% of new infections in the U.S., according to data published by the Centers for Disease Control and Prevention on Friday. The omicron BA.5 subvariant, once dominant, now makes up only a fifth of new Covid cases.

    The BQ subvariants are more immune evasive and likely resistant to key antibody medications, such as Evusheld and bebtelovimab, used by people with compromised immune systems, according to the National Institutes of Health. This includes organ transplant and cancer chemotherapy patients.

    There are currently no replacements for these drugs. President Joe Biden, in an October speech, told people with compromised immune systems that they should consult with their physicians and take extra precautions this winter.

    New variants may make some existing protections ineffective for the immunocompromised. Sadly, this means you may be at a special risk this winter,” Biden said.

    The XBB subvariant is also circulating at a low level right now, causing about 3% of new infections. Chief White House medical advisor Dr. Anthony Fauci, in a briefing Tuesday, said XBB is even more immune evasive than the BQ subvariants.

    Fauci, director of the National Institute of Allergy and Infectious Diseases, said the new boosters, which were designed against omicron BA.5, probably aren’t as effective against infection and mild illness from XBB. But the shots should protect against severe disease, he said. Singapore saw a spike in cases from XBB, but there wasn’t a major surge in hospitalizations, he added.

    Moderna and Pfizer said last week that their boosters induce an immune response against BQ.1.1, which is a descendent of the BA.5 subvariant.

    Fauci, in the press briefing, said public health officials believe there is enough immunity from vaccination, boosting and infection to prevent a repeat of the unprecedented Covid surge that occurred last winter when omicron first arrived.

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  • U.S. unlikely to see another late-year omicron wave, but Fauci urges people to get new COVID booster

    U.S. unlikely to see another late-year omicron wave, but Fauci urges people to get new COVID booster

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    The U.S. is unlikely to suffer the same surge of COVID-19 infections this winter as it did last year, when the omicron variant first emerged and swept across the country, senior health officials said Tuesday.

    On Tuesday, Anthony Fauci, President Joe Biden’s chief medical adviser, addressed reporters for the last time ahead of his retirement, saying that the current combination of infections and vaccinations means there’s “enough community protection that we’re not going to see a repeat of last year at this time.”

    But Fauci urged those Americans who have not yet gotten their updated booster to do so quickly, telling them it’s the best one so far. Only 35 million Americans have received the bivalent booster since it was rolled out in September.

    “[What] may be the final message I give you from this podium is that please, for your own safety, for that of your family, get your updated COVID-19 shot as soon as you’re eligible,” Fauci said.

    The Centers for Disease Control and Prevention has estimated that the new boosters, which target the original virus as well as the latest omicron variants, provide an additional 30% to 56% protection against symptomatic infection, depending on a person’s age, how many prior vaccine shots they have had and when they had them, as the Associated Press reported.

    The people who get the greatest benefit from the new booster are those who got two doses of the original COVID-19 vaccine at least eight months earlier and never got a prior booster, said the CDC’s Ruth Link-Gelles, who led the study.

    The original shots have offered strong protection against severe disease and death no matter the variant, but their protection against mild infection wanes. The CDC’s analysis has tracked only the first few months of the new boosters’ use, so it’s too early to know how long the added protection against symptomatic infection will last.

    But “certainly as we enter the holiday season, personally I would want the most possible protection if I’m seeing my parents and grandparents,” Link-Gelles said. “Protection against infection there is going to be really helpful, because you potentially would stop yourself from getting a grandparent or other loved one sick.”

     The Biden administration announced a six-week campaign urging people — especially older people — to get the boosters, saying the shots could save lives as Americans gather for the holidays.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Don’t miss: Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

    In the U.S., known cases of COVID are rising again, with the daily average standing at 42,220 on Tuesday, according to a New York Times tracker, up 7% from two weeks ago. Cases are rising in 25 states, led by Washington state, where they are up 279% from two weeks ago.

    The daily average for hospitalizations is flat at 27,923, while the daily average for deaths is up 3% to 319.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Employees at the world’s biggest Apple
    AAPL,
    +0.59%

    iPhone factory were beaten and detained in protests over contract disputes amid antivirus controls, according to witnesses and videos posted on social media Wednesday, as tensions mount over Beijing’s severe zero-COVID strategy, the AP reported. Videos reportedly filmed at the factory in the central city of Zhengzhou showed thousands of people in masks facing rows of police in white protective suits with plastic riot shields. Police kicked and hit one protester with clubs after he grabbed a metal pole that had been used to strike him. Frustrations have boiled over into protests in some parts of China where shops and offices have been closed and millions of people confined to their homes for weeks at a time with little warning. Videos on social media show residents in some areas tearing down barricades set up to enforce neighborhood closures.

    Footage shows police in protective suits beating workers at the Foxconn facility in Zhengzhou, China. The world’s biggest Apple iPhone factory had been under COVID-19 lockdowns in recent weeks. Screenshot: Associated Press

    • The Ohio Supreme Court has dismissed a lawsuit challenging Gov. Mike DeWine’s authority to end Ohio’s participation in a federal pandemic unemployment aid program ahead of the federal government’s 2021 deadline for stopping the payments, the AP reported. The court’s unanimous decision on Tuesday called the case “moot” without any additional explanation. At issue before the court was a weekly $300 federal payment for Ohioans to offset the economic impact of the coronavirus pandemic. The federal government ended that in September of last year, but DeWine stopped the payments two months earlier, saying the need was over.

    • Infections from antibiotic-resistant pathogens known as superbugs have more than doubled in healthcare facilities in Europe, an EU agency said on Thursday, providing further evidence of the wider impact of the COVID pandemic, Reuters reported. The European Center for Disease Prevention and Control said reported cases of two highly drug-resistant pathogens increased in 2020, the first year of the COVID-19 pandemic, then sharply jumped in 2021.

    • The National Institutes of Health has set up a website for people to anonymously self-report the results of at-home COVID-19 tests, whether positive or negative. The site, MakeMyTestCount.org, will gather the data and then share the information, stripped of personal identifiers, with the public-health systems that track COVID-19 test results provided by healthcare providers and laboratories. The widespread use of at-home COVID tests in 2022 meant the U.S. had a more limited understanding of COVID surges than in the past.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 639.1 million on Wednesday, while the death toll rose above 6.62 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.4 million cases and 1,077,800 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.2 million people living in the U.S., equal to 68.7% of the total population, are fully vaccinated, meaning they have had their primary shots.

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  • China’s three-week COVID case tally tops 253,000 and daily average is rising, government says

    China’s three-week COVID case tally tops 253,000 and daily average is rising, government says

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    More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, the Associated Press reported.

    The trend is putting pressure on officials who are trying to ease economic disruption by easing strict controls that have confined millions of people to their homes.

    China is the only major country in the world still trying to curb virus transmissions through strict lockdown measures and mass testing. The ruling Communist Party promised earlier this month to reduce disruptions from its “zero- COVID” strategy by making controls more flexible, but so far, progress has been slow.

    Beijing, which announced its first COVID death in about six months over the weekend, has locked down parks, populous districts, stores and offices and many school kids have resumed online learning.

    The past week’s average of 22,200 daily cases is double the previous week’s rate, the official China News Service reported, citing the National Bureau of Disease Prevention and Control.

    On Tuesday, the government reported 28,127 cases found over the past 24 hours, including 25,902 with no symptoms. Almost one-third, or 9,022, were in Guangdong province, the heartland of export-oriented manufacturing adjacent to Hong Kong.

    In the U.S., known cases of COVID are rising again with the daily average standing at 41,530 on Monday, according to a New York Times tracker, up 4% from two weeks ago.

    Don’t miss: Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

    Cases are rising in 24 states, plus Washington, D.C., Guam and Puerto Rico. Washington state has replaced Nebraska as leader by new cases, which have climbed 423% from two weeks ago. That’s followed by Arizona, where they are up 110% and California, up 60%.

    The daily average for hospitalizations was down 1% at 27,547, but again, the trend is not uniform across the U.S. Hospitalizations are up 60% in Alaska, up 47% in Arizona and up 30% in Wyoming.

    The daily average for deaths is down 2% to 294. 

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the coming winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Japan approved an antiviral pill from Shionogi & Co.
    4507,
    +2.77%

    to treat COVID after the company provided new data to show the drug’s efficacy, the Wall Street Journal reported. The treatment is the first locally developed alternative to Pfizer Inc.’s
    PFE,
    +1.45%

    Paxlovid and Merck & Co.’s
    MRK,
    +0.93%

    Lagevrio, which have been authorized for emergency use in Japan. Shionogi aims to win approval from the Food and Drug Administration for its pill in the U.S. Osaka-based Shionogi filed in February for emergency approval for the drug, known as Xocova, in Japan. The health ministry panel said in July it needed to see results from a larger human trial because data submitted at the time didn’t sufficiently show improvements in symptoms associated with COVID.

    • Dubai International Airport passenger numbers surpassed pre-COVID pandemic levels in the third quarter of 2022, the airport’s chief executive said, causing the airport to revise its annual forecast by another 1 million passengers, the AP reported. Paul Griffiths, who oversees the world’s busiest airport, told the Associated Press the annual forecast at Dubai International, or DXB, is more than 64 million. The airport saw 18.5 million passengers in the third quarter of this year, up from 17.8 million during the first quarter of 2020—prior to and at the dawn of the pandemic.

    • Get ready for long lines at U.S. airports and traffic jams galore—just like old times. Airports and roads may be “jam-packed” this year, according to the AAA. It estimates that 53.6 million people will travel for the Thanksgiving weekend, reaching 98% of pre-pandemic Thanksgiving travel. “Families and friends are eager to spend time together this Thanksgiving, one of the busiest for travel in the past two decades,” said Paula Twidale, senior vice president, AAA Travel. “Plan ahead and pack your patience, whether you’re driving or flying.”

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 638.5 million on Monday, while the death toll rose above 6.62 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.4 million cases and 1,077,225 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.2 million people living in the U.S., equal to 68.7% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 35.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 11.3% of the overall population.

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  • Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

    Confused about COVID boosters? Here’s what the science and the experts say about the new generation of shots.

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    As we head into the third winter of the pandemic, only about 13% of American adults — less than 11% of Americans overall — have received the bivalent COVID-19 booster. 

    Only about 34 million adults in the U.S. have opted to get the new shot, which became available in September. The bivalent boosters, which were developed by Moderna and BioNTech/Pfizer, are designed to better protect people against the forms of the virus that are currently circulating.

    Medical experts say the lackluster interest in the new boosters is due to several factors: pandemic fatigue, mixed messages from public-health officials, confusion about how the new boosters are different from previous shots, and the government’s decision to authorize the updated boosters without first getting clinical data in humans. 

    “It’s hard for people to wade through that,” said Robert Wachter, chair of the department of medicine at the University of California, San Francisco. “Some of them are just throwing up their hands and saying, ‘I got vaccinated, and that’s all I need to do.’ Which, unfortunately, is not.”

    A lot has changed since 2020. We now have vaccines that do a pretty good job of keeping most people from getting so sick that they end up in the hospital or die. You can now pick up at-home tests from pharmacies, and there are antiviral drugs that help treat COVID and may help prevent long COVID, in which symptoms can linger long after an infection. And now we also have the updated boosters, which are another way to ward off the worst of the virus.

    Those boosters, however, don’t confer total protection from getting sick, leading some people, particularly those who are young and healthy, to ask: Why get one, then?

    With new variants like BQ.1 and BQ.1.1 now the dominant strains circulating in the U.S., and with the coming holidays bringing more people together to spend time socializing indoors with friends and family, it’s important to understand that your immunity, whether from an infection or vaccination, wanes within four to six months. In fact, immunity to all coronaviruses wanes over time “for reasons that we don’t quite understand,” Kami Kim, director of infectious-disease research at Tampa General Hospital’s Global Emerging Diseases Institute, told me.

    “If you’re past three months [after vaccination or infection], you don’t want to rely on you having a BA.5 infection, because BQ.1.1 still can hit you,” said Eric Topol, chair of innovative medicine at Scripps Research in La Jolla, Calif.

    Here are answers to some common questions about COVID.

    1. What’s the difference between this booster and the shots that were available last year? 

    The earlier booster shots were simply additional, smaller doses of the original vaccine. But now there are two bivalent COVID-19 boosters available in the U.S.: Moderna’s
    MRNA,
    +1.61%

    MRNA-1273.222 and the BNT162b2 Bivalent from BioNTech
    BNTX,
    +0.20%

    and Pfizer
    PFE,
    +1.87%
    .
     

    Both shots are designed to protect against the original strain of the virus in addition to the BA.4 and BA.5 omicron subvariants. The bivalent boosters were designed to better protect people against the forms of the virus that are currently circulating, as well as future variants. It’s a similar approach to the way influenza strains are selected for flu shots every year. 

    “It’s the same exact mRNA technology [as the original vaccine], but each dose now has half of the [original] variant,” said Jennifer Beam Dowd, an epidemiologist and professor of demography and population health at the University of Oxford in the U.K.

    In June of this year, the U.S. Food and Drug Administration asked drugmakers to design the next generation of COVID boosters using this formula. (In Europe, regulators took a slightly different approach, first opting for bivalent boosters that equally protect against the original virus and the BA.1 subvariant of omicron before adding a recommendation for the same bivalent formula that’s being used in the U.S.

    “Part of the rationale for keeping the old version and BA.4/BA.5 is that if you put all your eggs in the basket, as far as BA.4/BA.5, then the virus will change to turn into more like the original version,” said Tampa General Hospital’s Kim. “It’s hedging your bets.”

    Up until last week, BA.5 had been the dominant variant in the U.S. But as of Friday, BQ.1 and BQ.1.1, which are sublineages of BA.5, now make up the majority of new infections in the U.S., according to the Centers for Disease Control and Prevention. 

    This isn’t all bad news. BQ.1.1 is closely related to BA.5, according to Dowd, and that means many of the protective qualities of the bivalent booster will also guard against the new variants. 

    2. What does the science say about the new boosters?

    There is preliminary data about both bivalent boosters that appears to indicate they work against BQ.1.1 as well as BA.5. However, scientists and physicians say they are still waiting to see peer-reviewed research from the clinical trials to fully gauge the effectiveness of both shots.

    • Moderna’s booster: Early clinical data shows that Moderna’s bivalent booster produced a 5- to 6-fold increase in neutralizing antibodies against the BA.4 and BA.5 variants in about 500 adults who were previously vaccinated and boosted, according to a Nov. 14 news release. The Phase 2/3 clinical trial compared the new booster’s response against the company’s original booster. Moderna also said that the bivalent shot increased antibodies protecting against BQ.1.1, though not as much as it did against BA.4 and BA.5, based on an analysis of about 40 participants in the same study.

    “It’s not orders of magnitude more protection — but at least 5- to 6-fold more protection against BA.5, that’s good,” Topol said.

    • BioNTech and Pfizer’s booster: In a preprint published Nov. 17, the two companies said their bivalent booster led to an 8.7-fold increase in neutralizing antibodies against BQ.1.1 after 30 days, compared with the original booster’s 1.8-fold increase in antibodies against the same subvariant. The study assessed the immune responses in adults 55 years or older who had been previously vaccinated and boosted, regardless of infection history. 

    3. What if I had COVID this year? Does it matter when I get the booster?

    Most experts interviewed for this story say immunity can last anywhere from three to six months, though the official CDC recommendation is that the bivalent boosters should be given three months after a COVID infection or two months after an individual’s last shot. 

    “We used to say, just go ahead and get vaccinated as soon as you recover,” Dowd said. “But there has been subsequent evidence that suggests it’s a little better to probably wait at least three months. Not because it’s harmful to get it sooner, but you really won’t be getting much of the benefit of that boost. You reach a ceiling.”

    There are other considerations, as well. The timing of your last infection does matter if you have an idea what variants were circulating when you got sick. If you had an omicron infection last winter, you’re probably due for a booster. If you got sick within the past month or so, presumably with BA.5 or one of its subvariants, you may want to wait a month or two.  

    “As good as the vaccine is and as good as post-infection protection is, the immunity and protection wanes over time,” Dr. Anthony Fauci, chief medical advisor to President Joe Biden, told journalists at a White House briefing on Tuesday.

    You also have to assess your underlying immune status, whether you have medical conditions that put you at higher risk for severe disease, and how concerned you are about long COVID.

    “Most of the deaths that we’ll see from COVID could have been prevented if people stayed up to date with their boosters,” said the University of California’s Wachter. “And many cases of long COVID could [also] have been prevented if people stayed up to date with their boosters.”

    Finally, if you’re planning to spend Christmas with family or take a trip at the end of December, remember that it takes a few weeks to build up antibodies from the new shots. 

    4. Do I really need to get a booster if I’m young and healthy?

    We are long past the stage in the pandemic when the approach to vaccination was one size fits all, and not all medical experts think that people who are young and healthy need a booster right now.

    Dowd said that people who are “younger and in good health” can wait up to six months after a previous infection to get another shot.

    “If we go by the CDC data or the U.K. data, the people who seem to benefit from the boost fall into three categories: people who are immunocompromised, people who are elderly — mostly over 75 — and people who have high-risk medical conditions,” said Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia.  

    It’s unclear whether that thinking has influenced people’s decisions about whether to get a booster. But the bivalent shots have been available to children older than 5 years old and all adults in the U.S. for months, and that availability hasn’t led to much interest.

    “It’s for the same reason that 19,500 people pour into Wells Fargo Center [in Philadelphia] to watch the Sixers play, screaming their heads off, without a mask on,” Offit said. “They don’t feel compelled to get a booster dose.”

    That may be due in part to the fact that COVID hospitalizations and deaths have largely remained stable. There is no longer the kind of urgency that drove people to book appointments for the original vaccine or to wear masks. With the annual peak in COVID cases occurring during the first two weeks of January in 2021 and 2022, the question now is: Will that comfort level change as we get further into winter and the holiday season?

    “People want [a booster] to be like flipping a switch, like I’m 100% protected or not,” Dowd said, “but we know from the first couple of years that when the vaccine is well matched to the variants, which the BA.5 is a decent match right now, it really lowers transmission substantially and your chances of getting infected at all. We should take advantage of that.”

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  • China announces first COVID deaths in months and unveils restrictions in Beijing and Guangzhou

    China announces first COVID deaths in months and unveils restrictions in Beijing and Guangzhou

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    China’s zero-COVID strategy was back in the headlines on Monday, after the country announced its first COVID deaths in nearly six months, announced new restrictions in the capital Beijing and locked down the largest district in the southern manufacturing hub of Guangzhou.

    Beijing residents were told not to travel between city districts, and large numbers of restaurants, shops, malls, office buildings and apartment blocks have been closed or isolated, the Associated Press reported. Local and international schools in urban districts of the city of 21 million have been moved online.

    Beijing reported two more COVID-19-related deaths on Monday, a day after the city reported its first COVID-19 death since May. China’s COVID numbers are widely held to be massively undercounted.

    In Guangzhou, public transit was suspended and residents are required to present a negative test if they want to leave their homes, according to a separate AP report.

    The outbreak is testing China’s attempt to bring a more “targeted” approach to its zero-COVID policies while facing multiple outbreaks. China is the only major country in the world still trying to curb virus transmissions through strict lockdown measures and mass testing.

    A group of Chinese doctors interviewed by the Financial Times said the country’s healthcare system is not ready to deal with a huge COVID outbreak that will inevitably follow any easing of strict measures to contain COVID-19.

    “The medical system will probably be paralyzed when faced with mass cases,” one doctor in a public hospital in Wuhan, central China, where the pandemic started nearly three years ago, reportedly told the FT.

    See: China’s COVID-19 restrictions hit historic Beijing theater

    Chinese President Xi Jinping’s speech at China’s 20th Party Congress suggests the country’s economy is moving in a new direction. As for U.S. investors, they’ll likely be taking on more risk investing in China. WSJ’s Dion Rabouin explains. Illustration: Elizabeth Smelov

    In the U.S., known cases of COVID were flat on Sunday with the daily average standing at 40,588, according to a New York Times tracker, up 1% from two weeks ago. Cases are currently rising in about half the states and falling in the rest, but some are seeing sharp spikes.

    In Nebraska, for example, cases are up 153% from two weeks ago, followed by Arizona, where they are up 110%.

    The daily average for hospitalizations was up 1% at 27,781, but Alaska is currently seeing a 50% spike, followed by Arizona where hospitalizations are up 51%.

    On a brighter note, the daily average for deaths is down 10% to 286.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Hong Kong leader John Lee tested positive for COVID-19 after meeting with other regional leaders at the Asia-Pacific Economic Cooperation forum in Thailand, the city government said Monday, the AP reported. Lee tested negative throughout his four-day stay in Bangkok but his test upon his arrival at Hong Kong’s airport on Sunday night was positive, a government statement said. Lee is now in isolation and will work from home, according to a spokesperson of the Chief Executive’s Office. Other officials at his office who went to Thailand with Lee all tested negative.

    • Oregon Gov. Kate Brown and her husband Dan Little have tested positive for COVID, after returning from Vietnam, Brown disclosed in a tweet. The pair were attending the Vietnam-United States Trade Forum.

    • A Los Angeles couple who fled to Europe after being convicted of running a fraud ring that stole $18 million in COVID aid money was returned to the U.S. to face prison, the AP reported. Richard Ayvazyan and his wife, Marietta Terabelian, were extradited from the Balkan country of Montenegro, where they were living in a luxury seaside villa before their arrest in February. They arrived in Los Angeles on Thursday, according to the U.S. Department of Justice. While they were on the run last year, a court in Los Angeles sentenced Ayvazyan to 17 years in federal prison, and Terabelian to six years.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 638.1 million on Monday, while the death toll rose above 6.62 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.3 million cases and 1,077,031 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.2 million people living in the U.S., equal to 68.7% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 35.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 11.3% of the overall population.

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  • Pfizer and BioNTech updated booster shows strong results against new omicron sublineages in fresh analysis of data

    Pfizer and BioNTech updated booster shows strong results against new omicron sublineages in fresh analysis of data

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    A fresh analysis of data on the immune response generated by the bivalent COVID-19 booster showed strong results against the newer omicron sublineages, Pfizer and German partner BioNTech said Friday.

    The bivalent booster targets the BA.4 and BA.5 omicron variants as well as the original virus, and it also appears to be effective against the sublineages dubbed BA.4.6, BA.2.75.2, BQ.1.1 and XBB.1.

    The data, which have been posted on the preprint server bioRxiv, show that the booster induces a greater increase in neutralizing-antibody titers than the companies’ original COVID vaccine.

    “Based on these findings, the Omicron BA.4/BA.5-adapted bivalent booster may help to provide improved protection against COVID-19 due to Omicron BA.4 and BA.5 sublineages as well as new sublineages that continue to increase in prevalence,” the companies said in a joint statement.

    Specifically, one month after a booster dose of the bivalent COVID-19 vaccine, neutralizing-antibody titers against the sublineages increased 3.2-fold to 4.8-fold compared with the original COVID vaccine.

    Neutralizing-antibody titers against BA.4.6, BA.2.75.2, BQ.1.1 and XBB.1 increased 4.8-fold to 11.1-fold from prebooster levels following a booster dose of the bivalent vaccine.

    The companies
    PFE,
    -0.72%

    BNTX,
    +0.08%

    said BA.5 is still the most prevalent sublineage in the U.S., accounting for nearly 30% of cases at time of publication, while the emerging BA.1.1 sublineage accounts for nearly 25% of cases and is spreading globally.

    But data released by the Centers for Disease Control and Prevention later Friday showed BQ.1 and BQ.1.1 now account for a combined 49.7% of new cases in the week through Nov. 19, while BA.5 accounted for just 24%.64.8%

    In the New York region, BQ.1 and BQ.1.1 accounted for 64.8% of new cases, while BA.5 accounted for 14.0%.

    The bivalent booster has been granted emergency-use authorization by the U.S. Food and Drug Administration for people ages 5 and older and has also been allowed in the European Union for that group.

    The news comes as U.S. COVID cases have been rising again, although the daily average edged lower on Thursday to 39,562, according to a New York Times tracker, down 1% from two weeks ago.

    Cases are rising in roughly half the states and falling in the rest, but there are wide discrepancies between individual states. In Nebraska, cases are up 540% from two weeks ago, the tracker shows, followed by Arizona, where they are up 110%; California, where they have climbed 53%; and Colorado, where they are up 50%.

    Meanwhile, Kentucky is seeing a 54% decline in cases from two weeks ago, and Michigan cases are down 48%.

    The daily U.S. average for hospitalizations is up 2% to 27,818, while the daily average for deaths is down 4% to 325.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • China’s southern manufacturing hub of Guangzhou is planning to build quarantine facilities for nearly 250,000 people to fight surging COVID outbreaks, even as the national government tries to reduce the impact of zero-COVID controls that have confined millions of people to their homes, the Associated Press reported. Guangzhou, a city of 13 million and the biggest of a series of hotspots across China with outbreaks since early October, reported 9,680 new cases in the past 24 hours. That was about 40% of the 23,276 cases reported nationwide. 

    • Racial disparities in COVID cases and deaths have widened and narrowed over the course of the pandemic, but age-adjusted data still show that Black, Hispanic and American Indian/Alaska Native people have been at higher risk for cases, hospitalizations and deaths, according to a new report from the Kaiser Family Foundation. “While disparities in COVID-19 vaccinations have narrowed over time and have been reversed for Hispanic people, they persist for Black people,” the report found. The pattern is also evident in uptake of the new bivalent booster, with Black and Hispanic people about half as likely as white people to have had one. Black people are also less likely to have access to antivirals, antibody treatments and other therapies.

    • The Indian Health Service announced Thursday that all tribal members covered by the federal agency will be offered a vaccine at every appointment when appropriate under a new vaccine strategy, the AP reported. Throughout the pandemic, American Indians and Alaska Natives have had some of the highest COVID vaccination rates across the country. But Indigenous people are especially vulnerable to vaccine-preventable illness, and IHS officials recently noted that fewer patients have been getting vaccines for COVID-19. Monkeypox is now an additional health concern.

    • Novavax
    NVAX,
    -6.11%

    said its COVID vaccine has received expanded authorization in Canada as a booster for adults aged 18 and older who had it as their primary shot. The protein-based vaccine has already been approved as a booster in the U.S., European Union and U.K., among other countries, Novavax said.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 637.1 million on Friday, while the death toll rose above 6.61 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98.3 million cases and 1,076,683 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 228.2 million people living in the U.S., equal to 68.7% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 35.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 11.3% of the overall population.

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  • China locks down Peking University over one COVID case, showing commitment to zero-COVID policy

    China locks down Peking University over one COVID case, showing commitment to zero-COVID policy

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    Chinese authorities have locked down Peking University after finding a single COVID case, evidence of their continued commitment to the country’s zero-COVID policy.

    Beijing reported more than 350 new cases in the latest 24-hour period, representing a small fraction of its population of 21 million but still enough to trigger localized lockdowns and quarantines under China’s zero-COVID strategy, as the Associated Press reported. Nationwide, China reported about 20,000 cases, up from about 8,000 a week ago.

    Authorities are trying to move away from the lockdowns, such as those seen earlier this year in Shanghai, that have frustrated locals and prompted protests. And revised national guidelines issued last week instructed local governments to follow a targeted and scientific approach that avoids unnecessary measures. But that doesn’t mean an end to zero-COVID, a policy that has hurt the country’s economy.

    Peking University has more than 40,000 students on multiple campuses, most of them in Beijing. It was unclear how many were affected by the new lockdown. The 124-year-old institution is one of China’s top universities and was a center of student protest in earlier decades. Its graduates include leading intellectuals, writers, politicians and businesspeople.

    The news comes as known U.S. cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 39,414 on Tuesday, according to a New York Times tracker, up 2% versus two weeks ago.

    Cases are climbing in 29 states, as well as Washington, D.C., Guam and Puerto Rico. They are up a staggering 868% in Nebraska from two weeks ago, with an average of 16 cases per 100,000 residents. Cases are up 77% in Utah, 54% in Oklahoma and 53% in Arizona.

    The U.S. daily average for hospitalizations is up 2% to 27,807, but it is up by higher rates in Western states, led by Colorado at 67%, Arizona at 60% and Nevada at 45%.

    On a brighter note, the daily death toll continues to decline and is now down 15%, to 292, from two weeks ago.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • A federal judge has approved a nearly $58 million settlement in a class-action lawsuit filed in response to the deaths of dozens of veterans who contracted COVID-19 at a Massachusetts veterans home, the AP reported. “It was with heavy hearts that we got to the finish line on this case,” Michael Aleo, an attorney for the plaintiffs, said Tuesday, the day after the settlement was approved by a U.S. district court judge in Springfield. The coronavirus outbreak at the Soldiers’ Home in Holyoke in the spring of 2020 was one of the deadliest outbreaks at a long-term care facility in the U.S.

    • Australian health authorities have recommended against getting a fifth COVID vaccine shot, even as they urged those who are eligible to sign up for their remaining booster doses as the country’s latest COVID wave grows rapidly, Reuters reported. Average daily cases were 47% higher last week than the week before, said Health Minister Mark Butler at a press conference on Tuesday, announcing the new vaccination recommendations. But cases remain 85% below the previous late July peak.

    • A federal judge on Tuesday ordered the Biden administration to lift Trump-era asylum restrictions that have been a cornerstone of border enforcement since the beginning of the pandemic, the AP reported separately. U.S. District Judge Emmet Sullivan ruled in Washington that enforcement must end immediately for families and single adults, calling the ban “arbitrary and capricious.” The administration has not applied it to children traveling alone. Within hours, the Justice Department asked the judge to let the order take effect Dec. 21, giving it five weeks to prepare. Plaintiffs including the American Civil Liberties Union didn’t oppose the delay.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 635.9 million on Wednesday, while the death toll rose above 6.61 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98 million cases and 1,075,112 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.8 million people living in the U.S., equal to 68.6% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 31.4 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 10.1% of the overall population.

     

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  • A robust booster campaign could prevent millions of missed school days among children ages 5 to 17, report finds

    A robust booster campaign could prevent millions of missed school days among children ages 5 to 17, report finds

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    If 80% of children ages 5 and older get their COVID booster shots by the end of 2022, it could prevent about 29 million missed days of school and almost 51,000 hospitalizations, according to a new report.

    And if COVID booster coverage simply matches 2020-21 flu-vaccination levels by year’s end, it would prevent about 22 million missed school days, said the report published by the Commonwealth Fund.

    “We expand our previous analysis to include the impact on pediatric hospitalizations, pediatric isolation days, and school absenteeism (among children ages 5 to 17), demonstrating both the health benefits of vaccination and the importance of vaccination uptake for maintaining uninterrupted in-school education,” the authors wrote in the report.

    The number of days absent from school was calculated based on five days of required isolation for children in that age group who experience mild symptomatic illness and 10 days for children who have severe illness or require hospitalization.


    Source: Commonwealth Fund

    An effective booster campaign would considerably reduce the strain on pediatric hospitals this winter, many of which are currently seeing high numbers of children with respiratory syncytial virus, known as RSV, and the flu, the authors wrote.

    “Throughout the pandemic, children have experienced direct health burdens as well as enormous upheaval in their personal and educational lives,” the report said. “Accelerated vaccination campaigns that achieve high coverage across all ages have the potential to prevent a possible imminent surge in COVID-19, protecting children both directly and indirectly and providing them with additional stability in terms of school attendance and other social engagement.”

    Now read: A strong fall COVID booster campaign could save 90,000 U.S. lives and avoid more than 936,000 hospitalizations, study finds

    The report comes as known U.S. cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 39,459 on Monday, according to a New York Times tracker, up 4% versus two weeks ago.

    Cases are rising the most in the Southwest, led by Arizona, Colorado, Nevada and New Mexico — states that are also seeing hospitalization numbers climb by more than 30% in the last two weeks.

    The daily average for U.S. hospitalizations was up 1% at 27,662.

    On a brighter note, the daily death tally continues to fall and is down 13% to 302 from two weeks ago.

    Physicians are reporting high numbers of respiratory illnesses like RSV and the flu earlier than the typical winter peak. WSJ’s Brianna Abbott explains what the early surge means for the winter months. Photo illustration: Kaitlyn Wang

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • China’s ruling party called for strict adherence to its hard-line “zero-COVID” policy Tuesday in an apparent attempt to guide public perceptions after regulations were eased slightly in places, the Associated Press reported. The news may disappoint Chinese citizens who have clashed with police and COVID workers to show their frustration over lockdowns and restrictions on movement. The People’s Daily, the Communist Party’s flagship newspaper, said in an editorial that China must “unswervingly implement” the policy that requires mass obligatory testing and places millions under lockdown in an attempt to eliminate the coronavirus from the nation of 1.4 billion people.

    • Japan will lift a ban on international cruise ships that has lasted more than two and half years, transport officials said Tuesday, the AP reported separately. The ban was imposed following a deadly coronavirus outbreak on the cruise ship Diamond Princess at the beginning of the pandemic. The Transport Ministry said cruise-ship operators and port authorities associations have adopted antivirus guidelines and that Japan is now ready to resume its international cruise operations and to receive foreign ships at its ports.

    The new bivalent vaccine might be the first step in developing annual COVID shots, which could follow a similar process to the one used to update flu vaccines every year. Here’s what that process looks like, and why applying it to COVID could be challenging. Illustration: Ryan Trefes

    • Cambodian Prime Minister Hun Sen tested positive for COVID-19 after meeting with world leaders, including President Joe Biden, at a summit of Southeast Asian nations last week, the Wall Street Journal reported. Mr. Hun Sen held one-on-one talks with Biden on Saturday on the sidelines of the regional discussions in Phnom Penh. Biden — who is on a five-day trip to Asia to attend a series of summits — then traveled to Bali, Indonesia, where he sat down on Monday with Chinese leader Xi Jinping for a face-to-face meeting that stretched over three hours.

    • Australia will overturn a three-year ban on tennis player Novak Djokovic entering the country, paving the way for the former top-ranked player to take part in the 2023 Australian Open, CNN reported, citing a source with direct knowledge of the matter. Australian Immigration Minister Andrew Giles will lift the ban, the source said.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 635.6 million on Monday, while the death toll rose above 6.61 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 98 million cases and 1,074,691 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.8 million people living in the U.S., equal to 68.6% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 31.4 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 10.1% of the overall population.

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  • China eases some travel requirements in move welcomed by markets, even as it counts 10,000 new COVID cases in a day

    China eases some travel requirements in move welcomed by markets, even as it counts 10,000 new COVID cases in a day

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    China counted more than 10,000 fresh COVID cases on Friday sparking further restrictions on movement, but also eased some travel requirements in a move welcomed by financial markets.

    Beijing closed city parks and imposed other restrictions, even as millions of people remained under lockdown Friday in the West and south of China, the Associated Press reported. 

    The country reported 10,729 new cases on Friday, almost all of them testing positive while showing no symptoms. More than five million people were under lockdown Friday in the southern manufacturing hub Guangzhou and the western megacity Chongqing.

    The government said Friday it was reducing the amount of time incoming passengers would be required to undergo quarantine. The U.S. Embassy this week renewed its advisement for citizens to avoid travel to and within China unless absolutely necessary.

    Incoming passengers will only be quarantined for five days, rather than the previous seven, at a designated location, followed by three days of isolation at their place of residence, according to a notice from the State Council, China’s cabinet.

    It wasn’t immediately clear when and where the rules would take effect and whether they would apply to foreigners and Chinese citizens alike.

    Relaxed standards would also be applied to foreign businesspeople and athletes, in what appeared to be a gradual move toward normalization. The news will be welcomed by Chinese citizens frustrated by the government’s zero COVID policy that has kept many in their homes sometimes for months at a time, and forced them to take regular tests.

    In the U.S., known cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 40,835 on Thursday, according to a New York Times tracker, up 9% versus two weeks ago.

    As always, case numbers vary from state to state and some are seeing sharp spikes, led by Nevada, where cases have soared 176% from two weeks ago, the tracker shows. That’s followed by Utah, where they are up 77%, New Mexico at 62% and Oklahoma at 54%.

    Cases are rising in 32 states, as well as Washington, D.C., Guam, the U.S. Virgin Islands and Puerto Rico. They are up by double digits in 27 of those states.

    The daily average for hospitalizations was up 3% at 27,989, while the daily average for deaths is down 9% to 326. 

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Four German regions — Baden-Wuerttemberg, Bavaria, Hesse and Schleswig-Holstein — plan to scrap rules requiring people infected with the coronavirus to isolate at home, arguing that the pandemic has evolved and it’s time for a different approach, the AP reported. The health ministry pointed to declining infections, effective vaccinations, a high degree of population immunity, milder illnesses and the example of countries such as Austria that have loosened rules. “The decision doesn’t mean that we will give free rein to infections,” said Bavarian state health minister Klaus Holetschek. “People who test positive will in the future have to put on a mask outside their own apartment. And of course, the principle still goes that people who are sick stay at home.”

    • Sanofi
    SAN,
    -5.22%

    won European Union approval for its COVID vaccine booster, jointly made with British partner GSK
    GSK,
    -5.65%

    GSK,
    -6.01%
    ,
    after a drawn-out development effort that saw the pair fall behind now-dominant vaccine suppliers, Reuters reported. The shot with the brand name VidPrevtyn Beta can be given to people who have already had a primary course of vaccination from other approved shots, the French drugmaker and the European Medicines Agency said in separate statements. Shipments are ready to be distributed to European countries under advance purchase agreements, Sanofi said. The company said last year that the European Union and Britain had ordered a combined 75 million doses of the shot, contingent on approval.

    • U.S. Supreme Court Justice Sonia Sotomayor rejected a bid to prevent New York City from enforcing its COVID-19 vaccine mandate for municipal workers against a group of teachers, firefighters and others who challenged the policy, Reuters reported separately. The justice denied an emergency request, received by the court on Nov. 4, to block the policy by individual municipal workers, as well as a group called New Yorkers For Religious Liberty, while their appeal of lower court decisions siding with the city proceeds.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 634.3 million on Friday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.9 million cases and 1,074,485 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.8 million people living in the U.S., equal to 68.6% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 31.4 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 10.1% of the overall population.

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  • WHO says 90% decline in COVID deaths since Feb. is ’cause for optimism,’ while urging vigilance against new variants

    WHO says 90% decline in COVID deaths since Feb. is ’cause for optimism,’ while urging vigilance against new variants

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    The head of the World Health Organization said a close to 90% decline in COVID deaths globally compared to nine months ago is “cause for optimism,” but urged leaders to remain vigilant as new variants continue to emerge.

    Tedros Adhanom Ghebreyesus told reporters on Wednesday that there were just 9,400 COVID deaths last week, compared with more than 75,000 in February, the Associated Press reported. 

    “Almost 10,000 deaths a week is 10,000 too many for a disease that can be prevented and treated,” he said.

    Testing and sequencing rates remain low globally, vaccination gaps between rich and poor countries are still wide, and new variants continue to proliferate.

    In its weekly epidemiological update, the agency said the global tally of cases fell 15% in the week through Nov. 6 from the previous week with over 2.1 million new cases counted.

    The highest number of new cases was reported from Japan, at 401,693, followed by Korea at 299,440 and the U.S. at 266,104. The agency again cautioned that the numbers may be undercounted, given the changes in testing strategies and overall surveillance in many countries, including the U.S.

    As for new variants, the update found BA.5, an omicron subvariant, remained dominant globally, accounting for 74.5% of sequences submitted to a central database. But newer ones, including BQ.1 and XBB, are on the rise.

    BQ.1 sequences rose to 13.4% of the total from 9.4% a week ago. XBB rose to 2.0% from 1.1%. The WHO is still closely monitoring newer sublineages but called on countries to also track them closely.

    In the U.S., known cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 40,189 on Wednesday, according to a New York Times tracker, up 7% versus two weeks ago.

    Cases are rising extremely sharply in some states, led by Nevada, where they are up 96% from two weeks ago. New Mexico’s case tally has climbed 64% from two weeks ago and Utah is up 61%. Overall, cases are rising in 32 states and are flat in Delaware. They are also rising in Washington, D.C., Guam, Puerto Rico and the U.S. Virgin Islands.

    The daily average for hospitalizations was up 3% at 28,003, while the daily average for deaths is down 13% to 316.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • China’s new top leadership body reaffirmed Beijing’s “dynamic-zero” COVID-19 policy on Thursday, as case numbers rose and authorities in the city of Guangzhou urged residents to work from home but stopped short of a citywide lockdown, Reuters reported. In its first meeting since being formed last month after the ruling Communist Party’s twice-a-decade congress, the Politburo Standing Committee said China’s epidemic prevention measures must not be relaxed, according to state media.

    • AstraZeneca PLC on Thursday lifted its guidance for the full year after reporting a swing to net profit and higher sales for the third quarter of the year, which both beat consensus expectations, Dow Jones Newswires reported. The Anglo-Swedish drug company dropped its submission for U.S. regulatory approval for its COVID vaccine, saying it has decided to focus instead on areas with greater unmet medical needs. The vaccine was initially approved in the U.K. and Europe about two years ago. CEO Pascal Soriot said the submission in the U.S. was becoming “very complicated and very large,” as it had to gather data from around the world.

    • Pfizer
    PFE,
    +1.41%

    and German partner BioNTech
    BNTX,
    -1.67%

    said Thursday that their booster dose of the omicron BA.4/BA.5-adapted bivalent COVID vaccine for 5-to-11 year olds was recommended for marketing authorization in the European Union. The EU will review the recommendation from the European Medicines Agency (EMA) Committee for Medicinal Products for Human Use (CHMP), and is expected to make a decision “soon.” The companies’ bivalent booster is already authorized in the EU for people at least 12 years old.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 633.9 million on Monday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.9 million cases and 1,073,934 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.3 million people living in the U.S., equal to 68.5% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 26.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 8.4% of the overall population.

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  • Manufacturing hub Guangzhou is latest Chinese city to face lockdowns as COVID cases rise

    Manufacturing hub Guangzhou is latest Chinese city to face lockdowns as COVID cases rise

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    The southern Chinese manufacturing hub of Guangzhou is the latest to see lockdowns amid a surge in COVID-19 cases, as the government presses ahead with the strict zero-COVID policy that has frustrated citizens.

    The latest lockdowns have further disrupted global supply chains and sharply slowed growth in the world’s second-largest economy, as the Associated Press reported.

    Residents in districts encompassing almost 5 million people have been ordered to stay home at least through Sunday, with one member of each family allowed out once a day to purchase necessities, local authorities said Wednesday.

    The order came after the densely populated city of 13 million reported more than 2,500 new cases over the previous 24 hours.

    China has retained its strict zero-COVID policy despite relatively low case numbers and no new deaths. The country’s borders remain largely closed, and internal travel and trade is complicated by ever-changing quarantine regulations.

    Apple
    AAPL,
    -3.32%

    and iPhone manufacturer Foxconn
    2317,
    -1.95%

    said over the weekend that restrictions are crimping production and will delay shipments of the high-end iPhone 14.

    For more, read: All eyes on China as Apple and Foxconn outline zero-COVID issues. Meanwhile, cases are rising again in the U.S.

    In the U.S., known cases of COVID are climbing again for the first time in a few months. The daily average for new cases stood at 39,578 on Tuesday, according to a New York Times tracker, up 5% versus two weeks ago.

    As always, the increase in cases is not uniform across the nation. Some states are seeing sharp spikes, led by Nevada, where cases are up 96% from two weeks ago. Tennessee is second with cases up 69%, followed by Louisiana with cases up 68%, New Mexico, where they are up 62%, and Utah, where they have climbed 61%.

    Cases are up by a double-digit percentage in 22 states.

    The daily average for hospitalizations was up 3% to 27,713, while the daily average for deaths was down 14% to 308.

    Coronavirus Update: MarketWatch’s daily roundup has been curating and reporting all the latest developments every weekday since the coronavirus pandemic began

    Other COVID-19 news you should know about:

    • Novavax Inc.
    NVAX,
    -5.19%

    on Tuesday tweaked its full-year sales outlook to the low end of its expected range and reported a surprise quarterly loss, but sales for the COVID-19 vaccine maker were far better than expected. The company reported a net loss of $168.6 million, or $2.15 a share, compared with a loss of $322.4 million, or $4.31 a share, in the same quarter a year ago. Sales were $735 million, compared with $178.8 million in the prior-year quarter. Analysts polled by FactSet expected Novavax to earn $1.57 a share on revenue of $586 million.

    • A Food and Drug Administration advisory committee said this week that Veru Inc.’s
    VERU,
    +3.95%

    COVID treatment Sabizabulin demonstrated a clear clinical benefit with a favorable benefit-to-risk profile. Veru is seeking emergency-use authorization for treatment of hospitalized COVID-19 patients at high risk for acute respiratory distress syndrome.

    • A Massachusetts man who admitted to lying on his application for federal coronavirus business stimulus funds and using some of the $400,000 he received to pay his mortgage has been sentenced to 15 months in prison, federal prosecutors said, as the AP reported. In addition to the time behind bars, Adley Bernadin, 44, of Stoughton, was sentenced last week to three years of supervised release and ordered to forfeit more than $280,000, according to a statement from the U.S. attorney’s office.

    Here’s what the numbers say:

    The global tally of confirmed cases of COVID-19 topped 633.5 million on Monday, while the death toll rose above 6.60 million, according to data aggregated by Johns Hopkins University.

    The U.S. leads the world with 97.8 million cases and 1,072,943 fatalities.

    The Centers for Disease Control and Prevention’s tracker shows that 227.3 million people living in the U.S., equal to 68.5% of the total population, are fully vaccinated, meaning they have had their primary shots.

    So far, just 26.3 million Americans have had the updated COVID booster that targets the original virus and the omicron variants, equal to 8.4% of the overall population.

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