Kaohoon Morning Brief – 7 October 2021

1) Wall Street closed higher as debt ceiling concerns subsided

Senate Minority Leader Mitch McConnell on Wednesday offered a short-term suspension of the U.S. debt ceiling to avoid a default and economic crisis, which was believed to send the U.S. into recession.

 

2) Biden and Xi plan to meet before year’s end

The U.S. President Joe Biden and Chinese President Xi Jinping plan to meet virtually before the end of this year, said the source. Tension between two economic giants has been on a rise after U.S. Trade Representative Katherine Tai said China has not kept its promise on the phase 1 trade deal made with the Trump administration.

 

3) Real-world studies show Pfizer’s immunity wane after two months

Real-world studies from Israel and Qatar confirm that the immune protection offered by two doses of Pfizer’s Covid-19 vaccine drops off after two months, while protection against hospitalization and death remains strong.

In late August, Pfizer’s CEO predicted that people will most likely need annual COVID-19 booster shots, believing that the booster shot is needed due to the potential for new variants to emerge and vaccine protection to wane over time.

 

4) Texas judge blocks enforcement of abortion bans

A federal judge in Texas issued an order Wednesday blocking the state’s recently-passed law that bans nearly all abortions. The previous Republican-backed law prohibits women from obtaining an abortion after six weeks of pregnancy. The case in Texas is part of a fierce legal battle over abortion access in the United States.