Expect the impacts of Omicron to continue

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The World Economic Forum has just postponed its annual meeting in Davos for the second year in a row due to the COVID-19 pandemic. The announcement comes as more countries enact travel restrictions and bans in the face of the most contagious variant to date.

Israeli Prime Minister Naftali Bennett has added the United States, Canada and eight other countries to the list of places where citizens are banned from traveling due to higher percentages of positive COVID tests upon their return. It was the first country to close its borders in November and tighten points of exposure as Omicron spreads and the country experiences its fifth wave of COVID infections.

“In my opinion, in three or four weeks, maybe sooner, we will see an increase in morbidity that will leave no room for doubt,” Bennett said on Sunday. He encouraged companies in his country to have their employees work from home, a model that other countries may soon return to.

Organizers of the World Economic Forum have postponed the in-person meeting to early summer and will instead host online sessions instead of meetings in Switzerland next month. It’s a similar circumstance to last year, which saw the WEF postpone and then ultimately cancel the in-person meeting entirely due to pandemic concerns.

In European countries already experiencing massive spikes in infections, experts warn of the dangers to industries that Omicron presents if workers are all to self-isolate simultaneously.

The world continues to depend heavily on internet-related businesses

As the world appears to once again retreat into lockdowns in the face of a highly contagious strain of COVID-19, many work-from-home businesses and those in related fields could once again see increased usage and revenue. . the Invesco NASDAW Internet ETF (PNQI) provides exposure to many companies that thrived during the pandemic when consumer habits changed abruptly due to isolation.

PNQI invests at least 90% of its assets in the Nasdaq CTA Internet Index using a full replication strategy. The index includes internet related companies whose primary revenues are from web hosting, internet software, search engines, web design, internet retail and other internet related services. .

The main titles include Alphabet Inc (GOOGL) at 8.58%, Amazon.com (AMZN) at 8.29%, Netflix (NFLX) at 7.82%, PayPal Holdings Inc. (PYPL) at 4.31%, and Zoom (ZM) at 1.86%.

PNQI has an expense ratio of 0.60% and currently holds 82 stakes.

For more news, information and strategies, visit the website Innovative ETF channel.

Learn more at ETFtrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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