Political battle over Covid vax, mask mandates continues in US

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Washington, Nov 12 | A political battle over Covid-19 vaccination and mask mandates has continued in the US, as the federal government pushed through its inoculation campaign with young children being targeted in the latest efforts.

A coalition of 10 states, led by Missouri, has filed a lawsuit against the Biden administration’s Covid-19 vaccine mandate imposed on health care workers, which they said was “unconstitutional and unlawful”, Xinhua news agency quoted local media reports as saying.

Missouri was joined in the suit by eight other states with Republican Governors: Nebraska, Arkansas, Iowa, Wyoming, Alaska, South Dakota, North Dakota, and New Hampshire.

Kansas, the 10th state, has a Democratic Governor, but is a reliably Republican state in presidential elections.

“Unfortunately, with this latest mandate from the Biden Administration, last year’s healthcare heroes are turning into this year’s unemployed,” Missouri Attorney General Eric Schmitt said in an official statement.

He added that requiring healthcare workers to get a vaccination or face termination is “unconstitutional and unlawful, and could exacerbate healthcare staffing shortages to the point of collapse, especially in Missouri’s rural areas”.

Meanwhile, school mask mandates have been a contentious issue for months, with the disputes moving from school board meetings to courtrooms.

A handful of Republican-led states, including Arizona and Florida, passed similar bans on mandates.

The Centers for Disease Control and Prevention (CDC) has recommended that schools require their students, teachers and staff to wear masks.

In its latest update on Thursday, the CDC said that 224,660,453 people have received at least one dose of a Covid-19 vaccine, making up for 67.7 per cent of the whole US population.

Meanwhile, fully vaccinated people stood at 194,382,921, accounting for 58.5 per cent of the total.

A total of 26,087,147 people, or 13.4 per cent of the fully vaccinated group, have received booster shots.

As of Friday morning, the overall Covid caseload and death toll in the US stood at 46,847,655 and 759,636.

Source: IANS

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Weekly Technical Share Market Outlook

Weekly Technical Share Market Outlook

The Indian market recovered sharply on the last trading day amid the weekend after a continuous fall. Market has managed to halt above 16000 Nifty levels after continuous losing streak. Index reacted violently, grasping Indian as well as global factors throughout the week. Simultaneously, Inflation is catching up and profit margins are taking a hit.

 

Sensex advanced 1532 points or 2.90 percent while Nifty gained 484 points or 3.07 percent in a week. Simultaneously, Bank nifty has overcome bear’s dominance ending the session with 3.49 percent gain. Sectorally,Nifty Metal saw the highest gains of 7.40 percent followed by the Realty and Auto added over 4% gain. On the flip side Nifty IT tumbled 2.82 percent on weekly basis. Midcap and Small Cap measures rising nearly 2 percent as well.

In Nifty stock, EICHERMOT gained 11.31% while TECHM lost 5.98% on a weekly basis. INDIA VIX closes at 23.10 suggests volatility driven market is going to remain intact. Coming to the OI Data, on the call side highest OI witnessed at 17000 Nifty followed by 16800 Nifty strike price while on the put side, the highest OI was at 16000 Nifty followed by 15800 Nifty strike price. Technically, Nifty has formed a Tweezer Bottom type pattern in the weekly chart suggesting a short term buying rally may drive the market until monthly expiry. On the daily chart, price has rebounded from the lower Bollinger band as well.

Momentum indicators MACD & Stochastic were trading with a positive crossover & reversed from oversold zone. However, Index is still struggling to get the support of 50 Simple Moving Average in daily chart. Short term investors and traders are advised to work with option strategies to neutralize the volatility. Overall, Nifty is having support at 15700 mark while on the upside 16700 followed by 16500 may act as an immediate resistance. While Bank nifty has support around 32500 while resistance is placed at 36000 on weekly chart.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

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