Raphael Stevens

A pedestrian wearing a protective mask walks past the Macy’s Inc. flagship store in the Herald Square area of New York, U.S., on Tuesday, Nov. 17, 2020.Victor J. Blue | Bloomberg | Getty ImagesOn any given day, the line outside the Gucci boutique at the Mall at Short Hills in N.J. winds around the second floor nearly to the escalator.Among the shoppers waiting to enter are Gucci’s typical clientele as well as new customers who just became $1,400 richer.”Stimulus has definitely been beneficial,” said Cowen & Co. retail analyst Oliver Chen.As the economy picks up and the market notches new highs, aspirational purchases, such as handbags, belts and footwear — particularly those with big, recognizable logos — are gaining momentum, Chen said, fueled by the latest round of direct payments authorized by Congress and President Joe Biden through the American Rescue Plan.More from Personal Finance:The latest batch of $1,400 stimulus checks has been issuedHere’s what federal aid could be coming nextThere may still be a way to claim missing stimulus checksLike the first two direct checks, this stimulus is meant provide a stopgap for those who have been hit hard by the coronavirus crisis.For the most part, checks are still being used that way.About 25% of households are spending this third round of payments, according to the Federal Reserve Bank of New York. Specifically, 13% of the latest stimulus check is expected to go toward food and other essential items and just 8% to non-essential items. The rest will be put toward debt repayment and savings.But, for many who have already been able to pay down debt and save more throughout the pandemic, “the stimulus check feels like free money,” said consumer savings expert Andrea Woroch.”People have this urge to go out and splurge on themselves, almost as a reward for being locked down over the past year,” she said.Zoom In IconArrows pointing outwardsWhat Woroch calls “revenge spending” is perfectly OK, as long as there’s room for it in your budget (which may mean cutting something else out).However, Woroch generally advises against splurging on one big-ticket item. She says that building wealth is a better option.CNBC’s Jim Cramer advised that, after people pay their bills, they should put most of the money in an S&P 500 index fund. In fact, many young retail investors already plan to spend a chunk of their stimulus payments on stocks.Here are some numbers that show why you should consider doing so, too.The S&P 500, which is now hovering near a record high, has reaped an annual average return of around 14% over the past 10 years.Let’s say you had invested $1,400 in the S&P 500 in 2010, your investment would have grown to more than $6,200 by the end of March 2021, according to data provided by Morningstar Direct.Go back even further and the increase is stunning: A $1,400 investment in the S&P in 1980 would now be worth over $150,000, Morningstar found.Zoom In IconArrows pointing outwardsIf you took a gamble on a particular company, like Google — and could comfortably afford to lose the money — the returns would be even greater.Putting $1,400 in Google-parent Alphabet in 2004 would leave you with over $57,000 today. Although past returns do not predict future results, Cramer says the search giant could still be your best bet. (Here are his other picks for investing your stimulus check in the stock market.)Consider that before turning your payment into an expensive purse.Subscribe to CNBC on YouTube. More

Dr. Scott Gottlieb, who advised cruise lines on Covid protocols, told CNBC on Friday he believes a safe environment can be created on the ships.Gottlieb’s comments came one day after Republican Florida Gov. Ron DeSantis said the state sued the Centers for Disease Control and Prevention, demanding the public health agency allow cruise lines to immediately resume sailing from the U.S. ports.Gottlieb, who co-chaired an advisory panel for Norwegian Cruise Line Holdings and Royal Caribbean, said on “Squawk Box” the companies have sensible policies in place in preparation for when they’re allowed to begin operating after a Covid pause that’s lasted more than a year.”They’ve committed to things like mandatory testing of passengers. Norwegian Cruise Line came out recently saying they’re going to require vaccination of all their passengers,” said Gottlieb, who served as Food and Drug Administration commissioner from 2017 to 2019 in the Trump administration.Gottlieb also noted that social distancing would be possible on the ships, saying “these cruises are not going to operate at full capacity.””As you start to implement all these public health recommendations … you start to create an environment that could be quite safe,” he contended. “I believe you can create a safe bubble around that experience, especially when you’re comparing it to other vacation experiences where you can’t control the environment,” he added.Cruise ships were hot spots for Covid outbreaks last year in the early days of the global health crisis, prompting the CDC to issue its no-sail order in mid-March 2020. While the CDC has issued some guidance for cruise lines under its conditional sailing order, the agency has yet to specify a date for operators to resume sailing from U.S. ports.In response to CNBC’s request for comment on Gottlieb’s remarks, the CDC said via email that it’s “committed to working with the cruise industry and seaport partners to resume cruising following the phased approach outlined in the conditional sailing order. This goal aligns with the desire for resumption of passenger operations in the United States expressed by many major cruise ship operators and travelers, hopefully by mid-summer.”However, the cruise industry is growing impatient, after companies raised billions in debt and issued new stock to fund operations while sailing revenues dried up. Late last month, a trade group called on the CDC to permit a phased-in restart in early July. Operators have said they’re seeing strong booking demand, suggesting people are starting to feel comfortable to return to cruises.In a CNBC interview Wednesday, Carnival CEO Arnold Donald pointed to differences between restrictions in America and other countries across the world, where cruises have resumed in some places.”A person today can fly from the U.S. to another country. Get on a cruise ship, and then come back to the U.S. whether they’re vaccinated or not,” Donald said on “Closing Bell.” “But here in the U.S., even if you’re vaccinated, at this point, you couldn’t get on a cruise ship.”Donald complimented the Biden administration for its work on Covid vaccination distribution in the U.S., where roughly 20% of the population is fully vaccinated. He said he believes the cruise industry and CDC will be able to jointly reach an agreement on sailing.”The administration has made huge progress with vaccinations and getting command of this thing,” Donald said. “We’re confident we can work together and arrive at something that would be a workable solution and hopefully we have sailings from the U.S. yet this summer.”Royal Caribbean CEO Richard Fain told “CBS This Morning” on Thursday that he would like the cruise industry to be “treated in a very similar way to the airlines,” which have been allowed to fly. However, Fain is optimistic about the possible resumption of U.S. sailings in the second half of this year, citing President Joe Biden’s goal for society to return to a semblance of normal by July 4.— CNBC’s Katie Tsai contributed to this report.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.” More

The economy is reopening at a fast pace. Restaurants, sports arenas and even offices are filling up again as pandemic restrictions lift. And that means many folks who have been sequestered in their homes for the past year are venturing forth, even if they don’t exactly look the same.The stressful and sedentary nature of life during the coronavirus pandemic caused many to fall out of fitness routines and gain weight. In fact, 42% of U.S. adults reported undesired weight gain due to Covid, according to a recent survey by the American Psychological Association. Average increase: 29 pounds.”It was fun to make sourdough bread. It was fun to make banana bread, but the result of that is not great,” said Jim Rowley, CEO of Crunch Worldwide.On the flip side, 18% reported undesired weight loss, possibly due in part to muscle loss from all that sitting around. It is no wonder, gain or loss, that fitness companies are suddenly seeing a new surge in activity.”We’re getting a lot of people now that haven’t seen us over the winter that are ready and are realizing this has been a long time coming,” said Lucy Ballentine, a studio manager at Orangetheory Fitness in Washington, D.C. Customers are telling her, “It’s been over a year since I’ve done any type of workout, and I’m really desperate to get back in shape.”An employee wearing a protective mask disinfects a treadmill between classes at an Orangetheory Fitness gym in Atlanta, Georgia, U.S., on Wednesday, May 27, 2020.Elijah Nouvelage | Bloomberg | Getty ImagesWhile home fitness saw a huge surge in demand over the past year, benefitting big names like Peloton, Beachbody and the Mirror, the push to get back in shape is clearly on now, as Americans coming out of hiding.That was the overwhelming sentiment at an outdoor Orangtheory class in a D.C. parking lot.”Do you mean I have to get back into the wardrobe that I no longer fit into? Yes,” said Stacey Weinstock, who has been working from home since the pandemic began.”We’re getting just a little bit closer to when everything’s going to open up and we want to look our best and feel our best,” said Rachel Robins, as she prepped for the class.Both gyms and streaming fitness companies are suddenly seeing a surge in new demand and overall workouts. Orangetheory memberships nationwide rose 17% in the first quarter of this year, with the biggest jump 9% in March, the company said.Crunch reports member visits up 30% in March over February. It also saw its strongest new membership sales in a year, despite its huge footprint in major cities that still have heavy gym restrictions like New York, Los Angeles and San Francisco.”We’re forecasting that the big boom is September, when we’ve gotten through the summer, the kids are back to school, there’s some normalcy with businesses opening offices again, especially in urban centers like Manhattan and San Francisco,” said Rowley.Barry’s Bootcamp said March studio attendance was up 31% over February and 48% over January. Its new streaming workouts are up as well.In-class attendance is rising thanks to easing restrictions and increased vaccinations.”I feel more comfortable being closer to people and sharing air with people now that I’m vaccinated,” said Rachel Weiss, another client at Orangetheory.A person exercises on an elliptical machine at a Crunch Fitness gym location in Burbank, California, U.S., on Tuesday, June 23, 2020.Patrick T. Fallon | Bloomberg | Getty ImagesBut that doesn’t necessarily mean an end to the new boom in streaming and home fitness. Crunch, for example, has had a streaming offering for more than a decade.”I can tell you we did spend money during the shutdown to improve our lighting, improve our sound, improve our camera, and improve our digital presence,” said Rowley, who argues that those who focus on fitness have always used multiple options. “They were the first to buy the Thighmaster, the Ab Cruncher, so it’s not unique to say, ‘Oh, I have a gym membership, and a Peloton.'”Peloton, which saw phenomenal growth in its streaming fitness platform and its bike and treadmill sales over the past year, does not appear to be losing any steam now. While the publicly-traded company would not release the latest numbers on streamed workouts, CEO John Foley said recently he was not concerned about a return to the gym.”I can commit to hypergrowth,” said Foley. “What we’re seeing is a shift where people want to work out in the home…it is the future of fitness, Covid or not.”Cari Gundee rides her Peloton exercise bike at her home on April 06, 2020 in San Anselmo, California.Ezra Shaw | Getty Images More

With new guidance following reports of rare blood clots, the global medical community is considering whether it’s possible, and safe, to administer two different vaccine candidates to the same person.    This week the European Medicines Agency and the U.K.’s Medicines and Healthcare products Regulatory Agency both determined that there is a possible link between the AstraZeneca-University of Oxford vaccine and very rare cases of unusual blood clots with low blood platelets.Neither the European nor the U.K. health regulators recommended age restrictions in using the vaccine. However, the U.K. regulator did note that the data suggested that there is a slightly higher incidence reported in the younger adult age groups and therefore advises that this evolving evidence should be taken into account when considering the use of the vaccine. The EMA similarly reiterated that the vaccine is safe and effective, but noted that use of the vaccine at a national level will also take into account the pandemic situation and vaccine availability in the individual countries.Subsequently the U.K., various EU countries and other governments around the world have moved to recommend using alternative vaccines for younger people. Given the change in guidance, younger people are now asking the question: If I’ve already received one dose of the vaccine, should I come back for the second one?Governments have different answers to this question. Health experts generally agree that the mixing and matching of the vaccines should be safe. But clinical trials are ongoing.Guidance variesThe U.K.’s Joint Committee on Vaccination and Immunisation advises: “All those who have received a first dose of the AstraZeneca COVID-19 vaccine should continue to be offered a second dose of AstraZeneca COVID-19 vaccine, irrespective of age. The second dose will be important for longer lasting protection against COVID-19.”In contrast, France’s health regulator recommends that people under the age of 55 who have received their first dose of AstraZeneca should get Pfizer or Moderna for their second shot. It advises a gap of 12 weeks between these first and second shots in these instances. The regulator stated there is no reason to fear specific adverse events if you had the first AstraZeneca jab and then switch to an mRNA jab for the second.Germany has followed a similar path. The German vaccine committee recommended that people under the age of 60 who had received one shot of the AstraZeneca jab should opt for a different vaccine for their second dose.Baden-Wuerttemberg’s State Premier Winfried Kretschmann (R) receive the AstraZeneca vaccine against the novel coronavirus in Stuttgart, southern Germany on March 19, 2021.MARIJAN MURAT | AFP | Getty ImagesTrials underway”The guidelines are the guidelines. But as a basic immunologist, can I see any argument why it would be unsafe or poor practice to mix and match vaccines? No, I can’t see any at all. It would still induce great immunity. No problem with that whatsoever,” Danny Altmann, a professor of immunology at Imperial College London told CNBC’s “Squawk Box Europe” Friday.Andrew Freedman, a reader in infectious diseases at Cardiff University’s School of Medicine told CNBC: “Studies are ongoing to look at the concept of mix and match. There’s no theoretical reason why that shouldn’t be feasible and safe but we have to wait for these studies.”In terms of a possible booster dose that may be needed in the fall or winter, he added: “I don’t think there’s any real concern that you wouldn’t be able to follow two doses of the AstraZeneca vaccine with one of the other messenger-RNA vaccines.”  Meanwhile, Franz-Werner Haas, the CEO of vaccine maker CureVac told CNBC this week: “The good news is all these vaccines are coding for the same spike protein … so therefore there are clinical trials and data seen that you can mix and match these different vaccine platforms.” “So in this regard, I have very high hopes that this is going to work out quite well,” he added. CureVac’s own candidate is still in clinical trials. Data readout is on track for the second quarter of this year.The Centers for Disease Control and Prevention maintains that the safety and efficacy of a mixed-product series have not been evaluated.Several trials are underway to look at the effects of mixing vaccines. The U.K. launched a trial in February looking specifically at mixing the AstraZeneca-Oxford vaccine with the Pfizer-BioNtech shot. Findings are not expected to be available until the summer. Separately, trials are being held looking at a combination of the AstraZeneca-Oxford and the Russian Sputnik V vaccines. More