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When Work Weighs You Down, Take a ‘Unhappy Day’

“I think the safe advice is not to be upfront,” said Andrew Kuller, a clinical psychologist at McLean Hospital in Belmont, Massachusetts. Not everyone values ​​mental health, he added, and “unless you are close to your manager.” a risk.”

But say you work in an organization where you can tell the truth without facing punishment. In this case, you are still not obliged to state why you want to call in sick. However, if you have something to share (or are interested in reducing the stigma surrounding mental health), you could reach out to your manager and say, “I think I would really benefit from taking a day to help out. to relax a little, “said Dr. said Grant. “I want to get back to work with all my energy.”

When employees are mentally and physically exhausted, it affects the quality of their work, their productivity, and the people around them, added Dr. Grant added.

“I think it’s easier to have a conversation about burnout than about sadness, depression or anxiety, so I would probably play it safe there and highlight why this is good for the organization, not just you,” said he

If you feel ready, you can also try putting together a coalition of people in your department who are concerned about mental exhaustion, said Dr. Grant, whose latest book “Think Again: The Power of Knowing What You Don’t Know,” challenges readers to change long-cherished thought patterns. As a group, you can discuss concerns such as missed deadlines or mistakes that could be made worse by burnout, and then bring these issues to your manager, who may be motivated to find a solution. That way, you can try and change the system for everyone, including yourself.

When deciding how to use a mental health day, it helps to think about what got you there in the first place. Do your personal relationships need attention? Are you exhausted from your workload and want to switch off from it all? Did you have a particularly stressful week and want to spend some time decompressing? Maybe it’s a combination of several things.

Thinking about it ahead of time will help you make the most of your day as possible. While one person is benefiting from a massage or a pampering day, another person may want to paint or garden. Others will find the greatest value in reconnecting with friends or family members.

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5 issues to know earlier than the inventory market opens Thursday, July 29

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Dow futures rise after Fed keeps rates near zero

A trader works behind plexiglass on the floor of the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 28, 2021.

Andrew Kelly | Reuters

Dow futures rose more than 100 points Thursday, one day after the 30-stock average and the S&P 500 dipped slightly and the Nasdaq rose modestly. All three benchmarks finished less than 1% away from Monday’s record closes after Federal Reserve Chairman Jerome Powell said at his post-meeting news conference that substantial economic improvement would be needed for the central bank to start dialing back its easy-money policies. On the fiscal side, the Senate voted to advance a bipartisan infrastructure plan Wednesday evening, a critical step toward Democrats passing their sweeping economic agenda.

  • In stocks to watch: Dow stock Merck fell in the premarket after the drugmarker Thursday matched estimates with quarterly earnings and topped expectations on revenue. Amazon reports earnings after the bell Thursday.
  • Trevor Milton, founder of Nikola, has been charged with three counts of fraud by the U.S. Attorney’s Office in Manhattan in connection with their investigation into the embattled electric vehicle start-up. Shares of Nikola, which lost more than half their value in the past 12 months, were down 6% in Thursday’s premarket trading.

2. Latest GDP, initial jobless claims weaker than expected

In the latest snapshot of the economic recovery from the Covid pandemic, the Commerce Department said Thursday morning that its first look at second-quarter gross domestic product grew at an annual rate of 6.5%, a big miss compared to estimates for 8.4% growth.

The Labor Department also reported before the opening bell on Wall Street that initial jobless claims came in at 400,000 last week, slightly worse than expectations. The previous week’s level was revised up to 424,000. Initial claims for the week ended July 10 of 368,000 matched last month’s Covid-era low.

3. Robinhood to make its public debut after pricing IPO

Vlad Tenev, CEO and Co-Founder, Robinhood in his office on July 15, 2021 in Menlo Park, California.

Kimberly White | Getty Images Entertainment | Getty Images

Robinhood, whose stock trading app surged in popularity among retail investors, is expected to make its debut on the Nasdaq on Thursday. The initial public offering was priced Wednesday night at the low of the range at $38 each, raising about $2 billion and valuing the firm at about $32 billion. However, the company is not without controversy.

  • Earlier this year during the initial meme stock frenzy, Robinhood angered some investors and lawmakers when it restricted trading in some popular stocks following a 10-fold rise in deposit requirements at its clearinghouse.
  • The company this week disclosed that it’s received inquiries from U.S. regulators about whether its employees traded shares of GameStop and AMC Entertainment before trading curbs were placed at the end of January.
  • In June, Robinhood agreed to pay nearly $70 million to settle an investigation by Wall Street’s own regulator.

4. Facebook warns about growth, sets vaccine mandate

A giant digital sign is seen at Facebook’s corporate headquarters campus in Menlo Park, California, on October 23, 2019.

Josh Edelson | AFP | Getty Images

Facebook shares fell roughly 3.5% in Thursday’s premarket, the morning after the social network said revenue growth will slow during the second half of the year. Facebook cited a change in Apple’s privacy policies, which it said will hurt the social network’s ability to target ads. In its second quarter, Facebook reported earnings of $3.61 per share on revenue of $29.08 billion. Both topped estimates. Daily active users and monthly active users each matched expectations.

Facebook will require workers returning to its U.S. offices to be vaccinated, the company also announced Wednesday. “How we implement this policy will depend on local conditions and regulations,” Vice president of people Lori Goler said in a statement. Facebook will create processes for those who can’t be vaccinated for medical or other reasons, Goler said, adding the company will continue to evaluate its approach outside the U.S.

5. Disney, Apple bring Covid mask requirements back

Guests wear masks. as required. to attend the official re-opening day of the Magic Kingdom at Walt Disney World in Lake Buena Vista, Florida, on Saturday, July 11, 2020.

Joe Burbank | Orlando Sentinel | Getty Images

Disney has amended the mask policy at its U.S.-based theme parks in the wake of new guidance from health and government officials. Starting Friday, the company will require all guests, regardless of vaccination status, to masks in indoor locations at Walt Disney World Resort in Florida and the Disneyland Resort in California. Children under the age of two are exempt from this mandate.

People walk past an Apple retail store on July 13, 2021 in New York City.

Angela Weiss | AFP | Getty Images

Apple will require both vaccinated and unvaccinated customers as well as staff members to wear masks in many of its U.S. retail stores starting Thursday, a person familiar with the matter told CNBC’s Josh Lipton. Earlier this week, Apple CEO Tim Cook told CNBC the company had pushed back its return to office plans for corporate workers from September to October and that it could be pushed back again.

— Reuters and CNBC Peter Schacknow contributed to this report. Follow all the market action like a pro on CNBC Pro. Get the latest on the pandemic with CNBC’s coronavirus coverage.

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Citing New Knowledge, Pfizer Outlines Case for Booster Photographs

Pfizer reported on Wednesday that the power of its two-dose Covid vaccine wanes slightly over time, but nonetheless offers lasting and robust protection against serious disease. The company suggested that a third shot could improve immunity, but whether boosters will be widely needed is far from settled, the subject of heated debate among scientists.

So far, federal health officials have said boosters for the general population are unnecessary. And experts questioned whether vaccinated people should get more doses when so many people have yet to be immunized at all.

“There’s not enough evidence right now to support that that is somehow the best use of resources,” said Natalie Dean, a biostatistician at Emory University in Atlanta.

Still, the findings raise questions about how well the Pfizer vaccine will prevent infection in the months to come. And with coronavirus cases surging again in many states, the data may influence the Biden administration’s deliberations about delivering boosters for older people.

If third shots are cleared for the general population, the boosters would likely represent a multi-billion-dollar business for Pfizer.

In a study posted online but not yet peer-reviewed or published in a scientific journal, Pfizer and BioNTech scientists reported that the vaccine had a sky-high efficacy rate of about 96 percent against symptomatic Covid-19 for the first two months following the second dose. But the figure declined by about 6 percent every two months after that, falling to 83.7 percent after about four to six months.

Against severe disease, however, the vaccine’s efficacy held steady at about 97 percent.

“This drop is very slight — I wouldn’t say it’s waning,” said Akiko Iwasaki, an immunologist at Yale University. She did not see in the new study any evidence that boosters should go into use for the general population. “These data don’t support a need for that right now,” she said.

The findings fit with what scientists have learned about how the immune system fends off viruses. Antibodies are the only defense to prevent an infection, but their levels typically drop in the months after vaccination or recovery from the disease. If the coronavirus takes hold, immune cells can swoop in to destroy infected cells and make new antibodies.

That enduring defense produced by the vaccine may explain how the virus can sometimes breed in the nose — producing a cold or sore throat — but fail to reach the lung where it can cause serious disease.

“Everything that’s engaged by the vaccine is able to fight off that spread that ultimately leads to severe disease,” Dr. Iwasaki said. “That’s probably not declining at all.”

The study period ended before the rise of the Delta variant, the highly contagious version of the virus that now dominates in the United States and makes vaccines somewhat less effective against infection.

The findings come from 42,000 volunteers in six countries who participated in a clinical trial that Pfizer and BioNTech began last July. Half of the volunteers got the vaccine, while the other half received a placebo. Both groups received two shots spaced three weeks apart.

The researchers compared the number of people in each group who developed symptoms of Covid-19, which was then confirmed by a P.C.R. virus test. When the companies announced their first batch of results, the vaccine showed an efficacy against symptomatic Covid-19 of 95 percent.

Updated 

July 28, 2021, 8:48 p.m. ET

In other words, the risk of getting sick was reduced by 95 percent in the group that got the vaccine, compared with the group that got the placebo. That result — the first for any Covid-19 vaccine — brought an exhilarating dose of hope to the world in December when it was riding what had been the biggest wave of the pandemic.

Since then, the Pfizer-BioNTech vaccine has made up the majority of shots that Americans have received, with more than 191 million doses given so far, according to the Centers for Disease Control.

In the new study, the researchers followed the volunteers for six months after vaccination, up to March 13. Over the entire period, the researchers estimated, the vaccine’s efficacy was 91.5 percent against symptomatic Covid-19. (The study did not measure the rate of asymptomatic virus infections.)

But within that period, efficacy did gradually drop. Between one week and two months after the second dose, the figure was 96.2 percent. In the period from two to four months following vaccination, efficacy fell to 90.1 percent. From four months after vaccination to the March cutoff, the figure was 83.7 percent.

Understand the State of Vaccine Mandates in the U.S.

Those figures still describe a remarkably effective vaccine, however, and may not convince critics that booster shots are widely needed.

The study comes on the heels of data from Israel suggesting that the Pfizer-BioNTech vaccine’s protection may be waning there. But experts have pushed back against a rush to approving a booster there. The data have too many sources of uncertainty, they say, to make a precise estimate of how much effectiveness has waned. For example, the Delta-driven outbreak hit parts of the country with high vaccination rates first and has been hitting other regions later.

“Such an analysis is still highly uncertain,” said Doron Gazit, a physicist at Hebrew University who analyzes Covid-19 trends for the Israeli government.

Earlier on Wednesday, Pfizer reported that a third dose of its vaccine significantly increases blood levels of antibodies against several versions of the virus, including the Delta variant.

Results were similar for antibodies produced against the original virus and the Beta variant, which was first identified in South Africa. Pfizer and BioNTech expect to publish more definitive research in the coming weeks.

The announcement was a preliminary snapshot of data contained in an earnings statement. And although antibody levels are an important measure of immunity, they are not the only metric. The body has other defenses that turn back infection.

Pfizer also said in its statement that vaccines for children ages 5 through 11 years could be available as early as the end of September. The vaccine is already authorized in the United States for everyone ages 12 and up.

Pfizer’s vaccine brought in $7.8 billion in revenue in the last three months, the company said, and is on track to generate more than $33.5 billion this year.

The vaccine is poised to generate more sales in a single year than any previous medical product, and by a wide margin. Pfizer did not disclose its exact profits on the vaccine, but reiterated its previous estimate that its profit margins on the vaccine would be in the high 20 percent range. Even if the drugmaker’s profits fall on the lower end of that range, that would work out to about $3 billion in profit so far this year.

Rebecca Robbins contributed reporting.

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Twitter closes San Francisco, New York places of work as Covid circumstances surge

Pedestrians use cell phones as they walk past Twitter Inc. headquarters in San Francisco, California, USA

Bloomberg | Getty Images

Twitter has announced that it will immediately close its offices in San Francisco and New York as Covid cases increase across the country.

Wednesday’s announcement comes just two weeks after the social media company reopened its offices in both cities.

“After carefully reviewing the CDC’s updated guidelines, and given current conditions, Twitter has decided to close our New York and San Francisco offices and to suspend future office openings with immediate effect,” a Twitter spokesman said in a statement Wednesday.

The company added that it continues to closely monitor local conditions and make necessary changes that “prioritize the health and safety of our Tweeps”.

Twitter is the newest company in the Bay Area to either delay its reopening or to close its offices due to the Delta variant.

On Wednesday, Google announced that it would postpone the return of the offices until October. One month later than the original September date.

This story evolves. Stay with NBC Bay Area for updates.

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Cats Are So Not Appreciated. Assume Once more.

Leslie Lyons is a veterinarian and specialist in cat genetics. She is also a cat owner and general cat partisan who has been known to tease her colleagues who study dog genetics with the well-worn adage that “Cats rule. Dogs drool.”

That has not been the case with research money and attention to the genetics of disease in cats and dogs, partly because the number of dog breeds offers variety in terms of genetic ailments and perhaps because of a general bias in favor of dogs. But Dr. Lyons, a professor at the University of Missouri, says there are many reasons cats and their diseases are invaluable models for human diseases. She took up the cause of cat science this week in an article in Trends in Genetics.

“People tend to either love them or hate them, and cats are often underappreciated by the scientific community,” she writes. But, she says, in some ways the organization of the cat genome is much like the human genome, and cat genomics could help in the understanding of the vast amount of mammalian DNA that does not constitute genes, and is poorly understood.

Among the advances in veterinary medicine that have benefited humans, she pointed out that remdesivir, an important drug in combating Covid, was first successfully used against a cat disease caused by another coronavirus.

She is the director of the 99 Lives Cat Genome Sequencing Initiative and as part of that project, she and a group of colleagues, including Wes Warren at the University of Missouri and William Murphy at Texas A&M University, recently produced the most detailed genome of the cat to date, which surpasses the dog genome.

“For the moment,” Dr. Lyons said.

I spoke last week with Dr. Lyons, Dr. Warren and Dr. Murphy, who refer to themselves as Team Feline. Dr. Lyons was visiting Texas, and with two of her colleagues she talked about why the genomes of cats are important to medical knowledge.

I report on animal science, and over the years, I admitted to the members of Team Feline, I seem to have written more about dogs than cats. The dog-cat rivalry in genomic science is mostly a good-natured rivalry, but just to assess what I was getting myself into I first asked about the scientists’ nonscientific approach to cats and dogs.

The conversation has been edited for length and clarity.

First, their personal preferences:

Dr. William Murphy: I do have cats and dogs as pets, but I prefer cats.

Dr. Wes Warren: I’m a dog owner. Unfortunately I’m allergic to cats.

Dr. Leslie Lyons: He has a very expensive dog that keeps having problems.

Why were you moved to write the article promoting the cause of cat science?

Dr. Lyons: Throughout my career, I’ve been trying to get people to recognize that our everyday pets have the same diseases as us and can really provide important information if we can understand what makes them tick a little bit better, how their genomes are constructed.

You have high quality genomes of several species of cats beyond the domestic cat?

Dr. Lyons: We already have the lions and tigers, the Asian leopard cat, Geoffroy’s cat, a half-dozen species with really, really good genomes that are even better than the dog genomes at this point in time.

Dr. Murphy: By far. It was actually better quality than the human reference genome until very recently. The goal is to have the complete encyclopedia of the cat’s DNA, so we can actually fully understand the genetic basis for all traits in the cat.

Dr. Lyons: For example the allergy gene that Wes is allergic to. We completely understand that gene now. We can maybe even knock it out of the cat to produce cats that are more hypoallergenic or at least understand what elicits the immune response better.

How are cat diseases a good model for human diseases?

Dr. Lyons: What we’re discovering is different species have different health problems. We should really be picking the right species.

Dr. Warren: We know that dogs get cancer more frequently, similar to ourselves. Cats don’t get cancer very often. And that’s a fascinating story of evolution. So are there signals or clues in the genome of the cat that allows us to zero in better on why cats get certain types of cancers and understand the differences among dogs, cats and humans.

How about the cats that are subjects of the research?

Dr. Lyons: Genomic research is fantastic because all we need is maybe a blood sample. And so once we have the blood sample, we don’t have to do experimentation on an animal. We’re actually observing what animals already have. We’re working with the diseases that are already there.

What about wild species?

Dr. Murphy: High quality genomes for wild cats can aid in their species survival plans and their recovery in the wild.

Dr. Lyons: We see half a dozen health problems in wild felids. We have a study of transitional cell carcinoma in fishing cats, inherited blindness in black-footed cats, polycystic kidney disease in Pallas’s cats. Snow leopards have terrible eye problems, probably because of inbreeding in zoos. So understanding their genomes can help us to stop those problems in the zoo populations, and that will help humans with the same conditions as well.

How about ancient DNA and cats? There’s been a lot of work on that in dogs. How is that progressing in cats?

Dr. Lyons: A couple of groups are moving forward with ancient DNA. I worked on some mummy cats and we showed that the mitochondrial DNA types that we found in the mummified cats are present more commonly in Egyptian cats today than they are anywhere else. So the cats of the pharaohs are the cats of present day Egyptians.

To switch gears: I’ve always been a dog person but I’ve been thinking about getting a cat. Any tips?

Dr. Lyons: Get two. They’ll be buddies. And give them something to scratch. Otherwise it is going to be your couch.

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The epidemic will sweep throughout the U.S. at completely different occasions, Dr. Scott Gottlieb says

Dr. Scott Gottlieb told CNBC that he expects surging U.S. coronavirus cases, linked to the highly transmissible delta variant, to start decreasing in just a few weeks. 

“Probably, in two or three weeks, I think that we were probably about three weeks behind the U.K.,” said the former FDA chief in the Trump administration.  

“The U.K. clearly is on a downslope…I would expect some of the southern states that really were the epicenter of this epidemic to start rolling over in the next two or three weeks.”

While the epidemic is still expanding across southern states, the rate of expansion is showing signs slowing. Gottlieb told “The News with Shepard Smith” that the slowdown is a sign that those southern states may be reaching their peak. 

Gottlieb did warn, however, that northern states may start to see more delta spread, as rates decrease in the south. 

“Here, in this country, it’s going to be much more regionalized now, I don’t expect the density of the spread of delta in states like New York or Michigan to be what it was in the south,” Gottlieb said. “We have more vaccine coverage, up there, we’ve had more prior infection, but you will see an uptick in cases, even in states where there is a lot of vaccine coverage, probably just not as severe.” 

Disclosure: Scott Gottlieb is a CNBC contributor and is a member of the boards of Pfizer, genetic testing start-up Tempus, health-care tech company Aetion Inc. and biotech company Illumina. He also serves as co-chair of Norwegian Cruise Line Holdings’ and Royal Caribbean’s “Healthy Sail Panel.”

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Dr. J. Allan Hobson, Who Studied the Dreaming Mind, Dies at 88

“In the psychoanalytic world, there has been this tendency to assume that everything is psychodynamic,” he added, noting that some doctors reflexively blamed mothers for their children’s behavior.

But dr. Hobson tempered his views in his later years.

“He came to believe that psychoanalysis could be useful in treating mental disorders,” said Dr. Lydic, “but he did not believe in rigid symbolism when interpreting dreams.”

For the most part, Dr. Hobson still, as the saying goes, a cigar is just a cigar.

John Allan Hobson was born on June 3, 1933 in Hartford, Conn. His mother Ann (Cotter) Hobson was a housewife. His father, John Robert Hobson, was a lawyer.

John attended Loomis School, now the Loomis Chaffee School, in Windsor, Connecticut, where he graduated in 1951. He spent a year abroad, then returned to study at Wesleyan University in Connecticut, where he majored in English and graduated from Harvard Medical School in 1959.

In 1956 he married Joan Harlowe; they divorced in 1992. In the mid-1990s he married Dr. Rosalia Silvestri, and she outlives him.

In addition to his wife and daughter, Dr. Hobson’s four sons, Ian, Christopher, Andrew, and Matthew; his brother Bruce; and four grandchildren.

After studying medicine, Dr. Hobson did a two year internship at Bellevue Hospital in Manhattan. Instead of military service, he served in the Public Health Service of the National Institutes of Health.

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Listed here are the new spots beneath the CDC’s new masks steerage

The Centers for Disease Control and Prevention on Tuesday recommended that fully vaccinated Americans return to wearing masks indoors in locations with high Covid-19 transmission rates as infection rates rise again across the country.

CDC director Dr. Rochelle Walensky told reporters Tuesday that in areas of “high and high transmission” everyone, including those who are fully vaccinated, should wear masks in public, indoors.

But what exactly is “high” or “significant” transmission, and where are the areas that the CDC cares about?

The agency uses two measures to divide U.S. counties into four levels of community transmission: the number of new cases per 100,000 residents and the percentage of positive Covid tests in the past week.

If a county has reported 50 to 100 cases per 100,000 population over a seven day period, or has a positivity rate of 8 to 10%, it falls into the “significant transmission” category, while those that report 100 cases or more per 100,000 or more have a positivity rate of at least 10% are referred to as “high transmission”. These are the two groups that the CDC recommends wearing masks.

According to the CDC, 1,495 counties fall into the highest broadcast tier and another 548 counties fall into the “significant” tier – the areas where masks should be worn in restaurants, businesses, and public spaces. These counties combined make up 225 million Americans, or about two-thirds of the US population, according to a CNBC analysis of CDC data.

The low-transmission counties that are not subject to the CDC’s recommendations make up an additional 31% of the population, while just over 1% of Americans live in low-transmission counties, according to the CDC’s criteria as of July 27 .

Federal health officials still believe that fully vaccinated individuals represent a very low level of transmission. The more contagious Delta variant, however, means that some vaccinated people may carry higher amounts of the virus than previously thought and may pass it on to others just as easily as unvaccinated people, Walensky said.

There are at least three states in which each county falls under the CDC’s mask recommendation: Florida, Louisiana, and Arkansas.

The Delta Covid variant is one of the most contagious respiratory diseases scientists have ever seen, Walensky said last week. The variant is highly contagious, mainly because people infected with the Delta strain can carry up to 1,000 times more viruses in their nasal passages than those infected with the original strain, according to new data.

“The Delta variant is more aggressive and much more transmissible than previously circulating strains,” said CDC Director Dr. Rochelle Walensky reporters at a briefing Thursday. “It’s one of the most contagious respiratory viruses we know and that I’ve seen in my 20-year career.”

The CDC’s guidelines are only a recommendation, leaving it up to state and local officials to decide whether to reintroduce their masking rules for specific individuals. Some areas have started to reintroduce mask requirements in the past few weeks.

Dr. Natasha Bhuyan, a GP at One Medical in Phoenix, Ariz., Said she recommends that her patients wear a mask because the Delta variant is so much more contagious than other variants.

“We know that you are much less likely to be hospitalized or die of Covid after a vaccination,” she said. “But even if you are vaccinated, you can rarely get Covid and you can still be contagious and pass Covid on to other people.”

Phoenix is ​​located in Maricopa County, which is in the highest category of community broadcasts.

“Delta has changed the way we think about when people should wear masks,” added Bhuyan. “It won’t take forever. If we increase the vaccination rate and the Covid case rate decrease, people can take their masks off.”

CNBC’s Berkeley Lovelace Jr. contributed to the coverage.

Correction: This article has been updated to remove Hawaii as one of the states where each county meets the CDC’s mask recommendations. Kalawao County has a population of 86 and has low transmission rates.

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Pfizer-BioNTech’s vaccine will get barely weaker over time, firm knowledge exhibits, however stays robust in stopping extreme illness.

The Pfizer-BioNTech vaccine’s effectiveness wanes slightly over time, according to newly released data from the companies, but remains strong in preventing severe disease. With coronavirus cases surging again in many states, the findings may influence the Biden administration’s deliberations about delivering a booster shot.

The vaccine had a sky-high efficacy rate of about 96 percent against symptomatic Covid-19 for the first two months, the study showed, but then declined about 6 percent every two months after that, falling to 83.7 percent after six months. Against severe disease, its efficacy held steady at about 97 percent. The data was posted online on Wednesday and has not been published in a scientific journal.

Despite the decline, the data confirm that the vaccine gives potent protection against Covid-19. Still, the study raises questions about how much protection two doses will provide in the months to come. Adding to these concerns is the rise of the Delta variant, which makes vaccines somewhat less effective against infection. The variant became dominant only after the study ended. But recent studies have also shown that vaccines remain strongly protective against the worst outcomes of Covid-19 caused by the Delta variant.

The findings come from 42,000 volunteers in six countries who participated in a clinical trial that Pfizer and BioNTech began last July. Half of the volunteers got the vaccine while the other half got a placebo. Both groups received two shots spaced three weeks apart. The researchers compared the number of people in each group who developed symptoms of Covid-19, which was then confirmed by a P.C.R. virus test.

When the companies announced their first batch of results, the vaccine showed an efficacy against symptomatic Covid-19 of 95 percent. In other words, the risk of getting sick was reduced by 95 percent in the group that got the vaccine compared to the group that got the placebo.

That result — the first for any Covid-19 vaccine — brought an exhilarating dose of hope to the world in December when it was riding what had been the biggest wave of the pandemic. Since then, the Pfizer-BioNTech vaccine has made up the majority of shots that Americans have received, with more than 191 million doses given so far, according to the Centers for Disease Control.

After the first analysis, the Pfizer and BioNTech researchers continued to follow the volunteers. The research became more challenging as time passed, because volunteers who got the placebo could ask to get the vaccine once it was authorized in their country.

Understand the State of Vaccine Mandates in the U.S.

For the new study, the researchers followed the volunteers for six months after vaccination, up to a cutoff date of March 13. Looking over that entire period, the researchers estimated the vaccine’s efficacy at 91.5 percent against symptomatic Covid-19. (The study did not measure the rate of asymptomatic virus infections.)

But within that period, the efficacy did gradually drop. Between one week and two months after the second dose, the efficacy was 96.2 percent. In the period between two and four months, the efficacy fell to 90.1 percent. And between four months and six months, the efficacy hit 83.7 percent.

Each estimate came with a margin of uncertainty. But over the six months of the trial, there was a clear decline in efficacy.

The new study comes on the heels of data from Israel suggesting that the Pfizer-BioNTech’s protection may be waning there. But experts have pushed back against a rush to approving a booster there. The data have too many sources of uncertainty, they say, to make a precise estimate of how much effectiveness has waned. For example, the Delta-driven outbreak hit parts of the country with high vaccination rates first and has been hitting other regions later. “Such an analysis is still highly uncertain,” said Doron Gazit, a physicist at Hebrew University who analyzes Covid-19 trends for the Israeli government.

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5 issues to know earlier than the inventory market opens Wednesday, July 28

Here are the key news, trends, and analysis investors need to start their trading day:

1. Wall Street wants to open flat, focus on earnings and the Fed

Trader on the New York Stock Exchange.

Source: NYSE

2. Pfizer sells $ 7.8 billion in Covid vaccines in the second quarter and increases guidance for 2021

Eon Walk (left) gives Daryl Black a dose at a COVID-19 mobile vaccine clinic hosted by Mothers In Action in partnership with the LA County Department of Public Health at Mothers in Action on Friday, July 16, 2021 in Los Angeles Pfizer BioNTech Vaccine Angeles, California.

Irfan Khan | Los Angeles Times | Getty Images

Pfizer increases its 2021 sales forecast for its Covid vaccine by nearly 29% to $ 33.5 billion as the Delta variant spreads and scientists debate whether people need booster vaccinations. While posting better-than-expected quarterly earnings and earnings, Pfizer also said Wednesday that it sold $ 7.8 billion in Covid footage in the second quarter. Pfizer stock fell about 1% in pre-trading hours. Earlier this month, Pfizer said it was seeing signs of waning immunity caused by its Covid vaccine at German drug maker BioNTech and planned to ask the FDA to approve a booster dose.

3. Biden is considering the Covid vaccination mandate for federal employees

The White House is heavily considering requiring federal employees to provide evidence of a Covid vaccination or to undergo regular tests and wear a mask. President Joe Biden suggested Tuesday that extending the mandate to the entire federal workforce “be considered”. The Department of Veterans Affairs became the first federal agency to request vaccinations for its health workers on Monday.

4. Big Tech reports failed profits, stocks mixed in the pre-trading session

Tim Cook, CEO of Apple (L), Satya Nadella, CEO of Microsoft (C) and Sundar Pichai, CEO of Google.

Getty Images

Apple was down 1% in pre-trading after warning that the negative impact of global chip shortages would worsen this quarter. That caution came after Apple reported better-than-expected quarterly earnings of $ 1.30 per share. Revenue was also up versus estimates, driven by a 50% increase in iPhone sales.

Microsoft beat estimates by 25 cents with quarterly earnings of $ 2.17 per share, while revenue beat estimates of continued strong growth in the company’s cloud computing business. Microsoft continued to benefit from the pandemic shift towards working and learning from home. The Microsoft share rose slightly in the premarket.

Alphabet earned $ 27.26 per share last quarter, well above estimates. The Google parent company revenue also exceeded forecasts as it benefited from the increase in online advertising spending. Alphabet was up nearly 4% in the premarket on Wednesday.

5. McDonald’s Hit Powered by BTS Ad, New Chicken Sandwich

People wear protective face masks in front of McDonald’s in Union Square as the city resumes Phase 4 reopening following restrictions imposed in New York City on July 30, 2020 to slow the spread of the coronavirus.

Noam Galai | Getty Images

McDonald’s reported double-digit sales growth in the US in the same store on Wednesday compared to pre-Covid 2019 levels in the most recent quarter. The strong demand for the BTS meal promotion and the new chicken sandwich added to these numbers. Earnings per share of $ 2.37 and revenue of $ 5.89 billion exceeded expectations. The McDonald’s share fell slightly in the premarket.

Boeing reported its first quarterly profit in nearly two years on Wednesday, helped by a surge in commercial aircraft deliveries as airlines recovered from the pandemic. The profit of 40 cents per share exceeded estimates for a loss of 83 cents. Sales of $ 17 billion also exceeded expectations. The share rose by 5% before the IPO.

– CNBC’s Peter Schacknow and The Associated Press contributed to this report. Follow all market activity like a pro on CNBC Pro. Get the latest on the pandemic with coronavirus coverage from CNBC.