WHO classifies new Covid-19 strain Omicron as 'variant of concern'

JOHANNESBURG (REUTERS) – The World Health Organisation (WHO) on Friday (Nov 26) designated a new Covid-19 variant detected in South Africa with a large number of mutations as being “of concern,” the fifth variant to be given the designation.

The WHO said in a statement that it had assigned the B.1.1.529 variant the Greek letter Omicron.

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By Emily Weinstein

Treasuries Rally In Reaction To New Covid-19 Variant

After turning higher over the course of the previous session, treasuries showed another significant move to the upside during trading on Friday.

Bond prices jumped at the state of trading and continued to trend higher as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 16.8 basis points at 1.477 percent.

The spike by treasuries came as traders looked to the relatively safe haven of bonds amid reports a new and possibly vaccine-resistant coronavirus variant has been detected in South Africa.

The news, which comes amid a surge in new Covid-19 cases in Europe, raised concerns the pandemic could continue to wreak havoc on the global economy.

The U.K. has issued a temporary ban on flights from six African countries in reaction to the new variant, which has also been detected in Belgium, Israel and Hong Kong.

The World Health Organization will hold a “special meeting” to discuss if the heavily mutated strain will become a variant of interest or a variant of concern.

Light volume may have exacerbated the rally by treasuries, as some traders remained away from their desks ahead of an early close by the markets.

A lack of major U.S. economic data may also have kept traders on the sidelines ahead of next week’s closely watched monthly jobs report.

Looking ahead, next week’s trading may be impacted by reaction to additional news about the new Covid variant as well as the closely watched monthly jobs report.

What Is Driving Allied Healthcare Products’ Shares To Surge 65%?

Shares of nano-cap company Allied Healthcare Products, Inc. (AHPI) are surging over 65% on Friday morning despite no stock-specific news statement from the company.

AHPI is currently trading at $8.95, up $3.57 or 66.29%, on the Nasdaq, on a heavy volume of 28.2 million shares, above average volume of 414 thousand shares. In the 52-week period, the stock has traded between $3.45 and $16.41.

Allied Healthcare Products manufactures and markets respiratory products for use in the health care industry in a range of hospitals and alternate site settings worldwide. The company offers respiratory care/anesthesia products, including air compressors, calibration equipment, humidifiers, croup tents, and equipment dryers.

Gold Futures Settle Slightly Higher

Gold futures settled higher on Friday as worries about growth following a detection of a new coronavirus variant, said to be vaccine-resistant, prompted investors to shun riskier assets and seek the safe-have commodity.

However, gold’s gain was just marginal as traders cut down commitments, choosing to build up cash.

The dollar index dropped to 96.02, giving up about 0.8%.

Gold futures for December ended up by $1.20 at $1,785.50 an ounce, well off the day’s high of $1,816.30 an ounce. There was no settlement for the contract on Thursday as the exchange was closed for the Thanksgiving Day holiday.

Gold futures shed 3.6% in the week.

Silver futures for December ended lower by $0.389 or about 1.6% at $23.107 an ounce, while Copper futures for December settled at $4.2835 per pound, down $0.1755 or nearly 4% from the previous close.

Silver futures lost almost 7% in the week, while Copper futures shed about 2.7%.

Amid mounting worries over the global spread of new Covid-19 variant that was first identified in South Africa, the U.K. and Israel temporarily suspended flights from six African countries to prevent the spread of the variant.

The variant, known as the B.1.1.529, was found to be different from previous versions and pose great concern, scientists warned.

The World Health Organization, which held an emergency meeting today, declared the new virus variant a matter of concern, noting its transmissibility and named it the omicron variant of the coronavirus.

Markets and oil tumble as a new coronavirus variant brings back travel restrictions.

By Eshe Nelson

CU Buffs vs. Utah live blog: Real-time updates from the college football game at Rice-Eccles Stadium – The Denver Post

Live updates, tweets, photos, analysis and more from the CU Buffs game against the Utah Utes at Rice-Eccles Stadium in Salt Lake City on Nov. 26, 2021.

Mobile users, if you can’t see the live blog, tap here.

Frederick police investigate single-vehicle fatal crash

The Frederick Police Department is investigating a fatal single-vehicle crash on Aggregate Boulevard Friday morning.

The crash happened about 10:55 a.m. on Aggregate Boulevard between Godding Hollow Boulevard and Tipple Parkway. This stretch will be closed for an extended amount of time, Frederick Police said.

Further information will be released when available, police said.