The White House reportedly plans to further restrict travel into the U.S., making all flyers get Covid-tested within a day of their departures, whatever their vaccination status.
Several media outlets reported the news, including The Washington Post and Bloomberg.
President Joe Biden plans to announce the new policy on Thursday, Bloomberg reported. Under current policy, vaccinated travelers need to complete a Covid test within three days of flying to the U.S.
Last week, Biden banned travel to the U.S. for foreign nationals who have been in any of eight southern African countries in the past two weeks. Biden didn’t say how long that policy will apply.
The stock market has faced a rocky road since the World Health Organization declared the omicron Covid strain a “variant of concern” Friday.
Stocks plunged Friday, rebounded Monday, slid again Tuesday and are now recovering Wednesday. The S&P 500 recently stood at 4,623, down 1.7% from Wednesday’s close (the market was closed Thursday for Thanksgiving).
J.P. Morgan sees the stock market rising again next year on positive fundamentals, pushing the S&P 500 to 5,000 in the first half of 2022.
That would represent an 8% gain from its recent level. The index soared 22% year to date through Tuesday.
“Global supply chain pressures are easing,” J.P. Morgan analysts led by Chief Global Market Strategist Marko Kolanovic wrote in a commentary.
“If this persists, the S&P 500 should continue to deliver strong revenue growth and record margins. U.S. companies delivered much stronger than expected Q3 results, and some key names gave an encouraging outlook on supply chains.”