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The XE variant has so far been detected in 637 patients, according to the latest statistics from the U.K. Health Security Agency.
It is what’s known as a “recombinant,” meaning it contains a mix of the previously highly infectious omicron BA.1 strain, which emerged in late 2021, and the newer BA.2 variant, currently the U.K.’s dominant variant.
Such recombinants are not uncommon, however health authorities said there is currently not enough evidence to draw conclusions on its transmissibility or severity.

According to the Office for National Statistics, 4.9 million people in Britain, or 1 in 13, were infected with Covid-19 as of March 26 — a record high since its survey began in April 2020.
Bloomberg | Getty Images

LONDON — A new omicron sub-variant has been detected in the U.K. as the country faces a renewed surge in Covid-19 hospitalizations.
The XE variant, as it is known, has so far been detected in 637 patients nationwide, according to the latest statistics from the U.K. Health Security Agency, which said there is currently not enough evidence to draw conclusions on its transmissibility or severity.

XE contains a mix of the previously highly infectious omicron BA.1 strain, which emerged in late 2021, and the newer “stealth” BA.2 variant, currently the U.K.’s dominant variant.
It is what’s known as a “recombinant,” a type of variant that can occur when an individual becomes infected with two or more variants at the same time, resulting in a mixing of their genetic material within a patient’s body.

XE’s transmissibility, severity not yet conclusive

Such recombinants are not uncommon, having occurred several times during the coronavirus pandemic.
Data on the new variant’s severity and ability to evade vaccines is not yet clear, though early estimates suggest it could be more transmissible than earlier strains.
UKHSA data show XE has a growth rate of 9.8% above that of BA.2, while the World Health Organization has so far put that figure at 10%.

Health authorities have said they are continuing to monitor the situation.
“This particular recombinant, XE, has shown a variable growth rate and we cannot yet confirm whether it has a true growth advantage. So far there is not enough evidence to draw conclusions about transmissibility, severity or vaccine effectiveness,” UKHSA’s chief medical advisor professor Susan Hopkins said.
The earliest confirmed XE case in Britain has a specimen date of Jan. 19 this year, suggesting it could have been in circulation in the population for several months. It has also been detected beyond the U.K. in Thailand.

Surging cases

It comes as the U.K. faces a new surge in infections. Still, the XE variant currently accounts for less than 1% of total Covid cases that have undergone genomic sequencing there.
According to the Office for National Statistics, 4.9 million people in Britain, or 1 in 13, were infected with Covid as of March 26 — a record high since its survey began in April 2020. Hospitalizations, meanwhile, have risen more than 7% in the last week to over 16,500.
Older adults have proven particularly susceptible to the latest wave amid waning booster immunity and easing Covid restrictions.
According to Imperial College’s latest React study, an estimated 8.31% of the over-55 age group tested positive as of the end of March — nearly 20 times the average prevalence recorded since the survey started in May 2020. Cases among children and younger adults, meanwhile, appear to be plateauing.
The findings mark the 19th and final round of the study as Covid restrictions and surveillance systems are unwound in the U.K. and beyond.
The British government on Friday pushed ahead with plans to cease two virus surveys and scale down a third. Meanwhile, Israel and Denmark, two frontrunners in research and vaccines in the early days of the pandemic, have dramatically cut back testing.
The scaling back of Covid data could make it more difficult to predict surges and understand new variants.
It comes as China — itself in the midst of its latest surge which has seen Shanghai enter into an extended lockdown — also recorded a new subvariant labeled BA.1.1.
The variant does not match other Covid types sequenced in China or reported to the global variant database, and was found in a mild Covid case in Suzhou, a city near Shanghai.

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The United States hit a record low housing supply in 2022, according to the National Association of Realtors.
Builders expect housing affordability to worsen as the Federal Reserve raises interest rates.
Master-planned communities and mixed-use districts have attracted investors flush with cash seeking to profit by shoring up supply.

Americans who are short on cash to make rent may need to face an uncomfortable reality: Conditions will likely get worse before they get better.U.S. housing supply fell to the lowest levels observed in over 20 years, according to the National Association of Realtors. That’s dramatically pushing up prices for consumers, and catching the attention of leaders.”The most immediate challenge is a lack of lumber and other kinds of building materials,” says Rob Dietz, chief economist at the National Association of Home Builders. “The other challenge, and it’s one that’s going to be with us for some time, is a lack of skilled labor.”Architects say better planning could ease cost burdens while shoring up public health.”Suburban retrofitting has the potential to transform people’s lives,” said June Williamson, dean of architecture at City College of New York.The Mosaic District of Fairfax, Virginia, is among the many “retrofitted” mixed-use districts and master-planned communities that have attracted major developers to the concept.
Watch the video above to learn more about the real estate industry’s push to shore up the housing supply.

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Teens are spending more and shifting their shopping habits, even as they worry over growing economic uncertainty, according to Piper Sandler’s biannual “Taking Stock With Teens” survey.
They’re also increasingly concerned about the Russian war in Ukraine, and less preoccupied with the Covid-19 pandemic.
Plus, many teens say they’re either unsure of or uninterested in the so-called metaverse.

Athletic apparel sits on display inside a Lululemon Athletica store.
Xaume Olleros | Bloomberg | Getty Images

Teens are spending more and shifting their shopping habits, even as they worry about growing economic uncertainty, according to a new survey.
Athletic apparel brands such as Lululemon and Nike that combine comfort and fashion are winning out over traditional clothing labels, Piper Sandler’s biannual “Taking Stock With Teens” report released on Wednesday revealed.

Many teens say they’re either unsure of or uninterested in the so-called metaverse — the idea of buying goods through a virtual reality experience. Retailers including Nike, PacSun, Forever 21 and Ralph Lauren have all been dipping their toes in the budding technology.
A growing number of teenagers also say they’re much more familiar with NFTs, or non-fungible tokens, than they were last fall, while only a small percentage have actually purchased one.
But they’re also increasingly concerned about the Russian war in Ukraine, the survey revealed, and are less preoccupied with the Covid-19 pandemic.
The results of the biannual survey have implications for the businesses vying to win over this generation’s dollars. That’s particularly true now with the economic environment riddled with uncertainty.
Teens plan to spend about $2,367 this year on everything from fast food meals and video games to handbags and sneakers, Piper Sandler found, or an estimated overall total of roughly $66 billion. That’s up 9% from reported spending levels in the spring 2021 report, and up 4% from Piper Sandler’s fall survey. Reported annual spending by teens peaked at about $3,023, in the spring of 2006. 

Piper Sandler surveyed 7,100 teens from Feb. 16 to March 22. The average age of those surveyed was 16.2 and the average household income was $69,298. Thirty-nine percent of the teens surveyed were employed part-time, up from 38% last fall and 33% last spring.

Concerns about the economy on the rise

Though teen-spending levels have improved steadily since a trough in the fall of 2020, businesses still grapple with the question of what could derail growth and whether consumers will pull back in their spending.
A whopping 71% teens reported to Piper Sandler that they believe the U.S. economy is getting worse, up from 56% who felt that way last fall, and 46% last spring.
When asked which political or social issues mattered the most to them, teens’ top response was Russia’s invasion of Ukraine, at 13%. That was followed by the environment, at 11%; racial equality, at 10%; gas prices, at 10%; and inflation, at 4%.
Coronavirus notably fell off the list of teens’ top 10 concerns, after ranking fourth in Piper Sandler’s survey last fall as well as last spring.
Piper Sandler consumer analyst Matt Egger noted that the continued concern among Generation Z consumers on the environment bodes well for rental platforms such as Rent the Runway and resale businesses like ThredUp and The RealReal.

Nike, Amazon keep top spots

Meanwhile, Nike remained the No. 1 favored clothing brand among teens, a spot it has held for an impressive 11 consecutive years. It also widened its margin as the preferred footwear brand among Gen Z shoppers, the survey said, ahead of Converse, Adidas, Vans, New Balance and Crocs, in that order.
American Eagle kept its spot as teens’ second-favorite apparel brand, followed by Lululemon, which moved up one position on the list from the prior year. Fast-fashion retailer H&M rose to fourth from ninth a year earlier. Adidas remained in fifth place.
Overall, the athletic brands mentioned in the survey released Wednesday accounted for 44% of teens’ favorite clothing labels, the highest levels that Piper Sandler has seen for the category. That aligns with a broader shift among consumers during the pandemic, toward stretchy and more loose-fitting clothing to be worn around the house. And many teens are still incorporating athletic brands into their wardrobes even as they head back to schools and offices.
Shein, a Chinese e-commerce fashion behemoth that is reportedly weighing a funding round at a valuation of about $100 billion, ranked seventh for teens’ favorite place to buy clothes, down from sixth in the fall of 2021 but up from eighth last spring.
Females continue to widely outspend males on clothing, according to the Piper Sandler survey, while males spend, on average, about $51 more that females on shoes each year.
Amazon remained by far the favorite website to shop overall, taking a 53% share, up from 52% last fall. Shein remained in second place, but its share of teens’ preference fell to 8% from 9%. Other retailers on the list were Nike, PacSun, Lululemon and Princess Polly, in that order.
When it comes to the metaverse and platforms such as Roblox or Decentraland, 26% of teens reported they own some sort of virtual reality device, with just 5% using it daily. Forty-eight percent said they are either unsure of or not interested in the metaverse.

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CDC Director Rochelle Walensky said high levels of immunity from vaccination, boosters and prior infection should provide some protection against the omicron BA.2 variant in the US.
BA.2 makes up a growing a proportion of variants in the U.S., but new infections are steady at the moment. Hospitalizations are at their lowest level since 2020.
BA.2 has caused major outbreaks in Europe and China.

Centers for Disease Control and Prevention (CDC) Director Rochelle Walensky gives her opening statement during the Senate Health, Education, Labor and Pensions hearing on “Next Steps: The Road Ahead for the COVID-19 Response” on Capitol Hill in Washington, November 4, 2021.
Elizabeth Frantz | Reuters

CDC Director Rochelle Walensky on Tuesday said there is enough immunity in the U.S. population to provide some protection against the more contagious omicron BA.2 subvariant, which could help stave off another Covid wave that slams hospitals.
“The high level of immunity in the population from vaccines, boosters and previous infection will provide some level of protection against BA.2,” Walensky said during a White House Covid briefing. White House chief medical advisor Dr. Anthony Fauci said last month that infections might rise due to BA.2, but he doesn’t expect another surge.

BA.2 now represents 72% of circulating Covid variants in the U.S., according to the Centers for Disease Control and Prevention. It has rapidly displaced the earlier version of omicron, BA.1, that caused the massive wave of infection over the winter. At the beginning of February, BA.2 represented about 1% of Covid variants in the U.S.

BA.2 is now the dominant Covid variant in every region of the country, with circulation the highest in the densely populated Northeast, a repeated epicenter of the pandemic in the U.S. BA.2 makes up more than 80% of circulating variants in New England, New York, New Jersey, Puerto Rico and the Virgin Islands, according to the CDC.
An estimated 95% of the U.S. population ages 16 and older had developed antibodies against the virus either through vaccination or infection as of December, according to a CDC survey of blood donor samples. However, simply having antibodies against the virus does not necessarily stop an infection. Omicron, with its many mutations, has an enhanced ability to infect both the vaccinated and people who were previously infected.
However, people who are vaccinated, boosted and those who recovered from a prior infection all have high levels of protection against hospitalization from BA.2, according to a study published by scientists in Qatar affiliated with Weill Cornell Medicine in Doha. The study has not undergone peer review.
The scientists found that people who received three Pfizer shots had the highest protection against hospitalization from BA.2 at 98%. People who received two Pfizer doses and those who recovered from a prior infection had similar levels of protection against hospitalization at 76% and 73% respectively. People who had two Pfizer doses and recovered from a breakthrough infection had 97% protection.

The data suggests that even if BA.2 fuels an increase in infections in the U.S., there might be enough immunity in the population to prevent a major outbreak of severe disease that overwhelms hospitals.
BA.2 is anywhere from 30% to 80% more transmissible than the earlier version of omicron, according to public health authorities in the U.K. and Denmark. Scientists in the U.K., South Africa and elsewhere have found that BA.2 generally does not make people more sick than BA.1, which was less severe than the delta variant.
BA.2 has fueled outbreaks in Europe, including in the United Kingdom and Germany. China is battling its worst wave since 2020, locking down major cities such as Shanghai.
However, Covid infections in the U.S. are steady right now even as BA.2 makes up a growing proportion of virus variants in circulation around the country. The U.S. reported an average of about 25,000 new infections on Monday, down 4% from the week prior, according to data from the CDC. However, new infections are likely underreported as many people use at-home tests that aren’t captured by the data.
The number of people hospitalized with Covid has fallen to the lowest since 2020. More than 10,700 patients were hospitalized with the virus on Tuesday as a seven-day average, a 92% drop from the peak of the omicron wave in January, according to data from the Health and Human Services Department.
The CDC has adjusted its Covid guidance to focus more on hospitalizations as a measure of how severely the virus is impacting the country. More than 97% of the U.S. population lives in counties with low-to-moderate Covid levels, which means people there do not need to wear masks under the CDC’s guidance.

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JetBlue Airways made a $3.6 billion all-cash offer for Spirit Airlines, raising questions about Spirit’s deal to combine with rival discount carrier Frontier Airlines.
The bid comes less than two months after Spirit and Frontier agreed to merge into a discount airline behemoth.
Trading in Spirit shares was halted before the market closed Tuesday after the stock spiked more than 22% to $26.92.

JetBlue Airways made a $3.6 billion all-cash offer for Spirit Airlines, raising questions about Spirit’s deal to combine with rival discount carrier Frontier Airlines.
Spirit said its board was evaluating JetBlue’s proposal and will “pursue the course of action it determines to be in the best interests of Spirit and its stockholders.”

The competition for Spirit shows renewed appetite for consolidation in the airline industry as carriers dig their way out of two difficult pandemic years. Carriers are now scrambling to hire pilots, flight attendants and other workers as the travel business rebounds.

Spirit Airlines planes on the tarmac at the Fort Lauderdale-Hollywood International Airport on February 07, 2022 in Fort Lauderdale, Florida.
Joe Raedle | Getty Images

JetBlue’s bid comes less than two months after Spirit and Frontier agreed to merge into a discount airline behemoth, which would make it the country’s fifth-largest airline.
Trading in Spirit shares was halted before the market closed Tuesday after the stock spiked more than 22% to $26.92. JetBlue offered $33 a share in its unsolicited all-cash bid, Spirit and JetBlue said. The New York Times earlier reported JetBlue’s offer.
JetBlue shares closed down about 7%.

Spirit and Frontier both solely fly planes in the Airbus A320 family. Those aircraft make up the majority of JetBlue’s fleet, as well, which would reduce costs and logistical headaches in combining the carriers.

JetBlue also has a large operation in Florida, where Spirit is headquartered. It said the combined airline would have 32,000 employees and would keep its headquarters in New York.
“We can all agree that Spirit has a very different brand and product than JetBlue, and so at first glance you may not think we’d make a great pair,” JetBlue CEO Robin Hayes and COO Joanna Geraghty wrote to employees after announcing the bid for Spirit. “However, when you dig deeper, you’ll realize we could be a perfect match. After all, our strong belief has always been that Customers shouldn’t have to choose between a low fare and a great experience, and JetBlue is the only airline that offers both.”
A wave of consolidation in the airline industry that began more than a decade ago left four major carriers in control of more than 70% of the U.S. market.
“Once you have megacarriers with more than 1,000 aircraft after the backbone of the industry, then it’s appropriate for the No. 5 airline to beef up,” said Samuel Engel, senior vice president and aviation analyst at consulting firm ICF.
JetBlue has a partnership with American Airlines that allows the carriers to coordinate service in the U.S. Northeast. The two airlines see the agreement as giving them a better chance to compete against United and Delta Air Lines in crowded airports in New York and Boston. The Department of Justice sued to block that partnership last year.
The DOJ and American both declined to comment on JetBlue’s offer for Spirit, though JetBlue said Tuesday the merger with Spirit would complement its alliance with American.
Frontier defended its deal to combine with Spirit and said an alternative tie-up with JetBlue would make travel more expensive. The airline also questioned JetBlue’s offer amid the Justice Department lawsuit.
“In particular, the significant East Coast overlap between JetBlue and Spirit would reduce competition and limit options for consumers,” Frontier said. “It is surprising that JetBlue would consider such a merger at this time given that the Department of Justice is currently suing to block their pending alliance with American Airlines.”

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CNBC’s Jim Cramer on Tuesday picked three liquified natural gas stocks investors should consider purchasing.
“Two are pure plays on liquefied natural gas exports – a little dicier – and then one is a more diversified story, really perfect for home-gamers who are worried about volatility,” the “Mad Money” host said.

CNBC’s Jim Cramer on Tuesday picked three liquified natural gas stocks investors should consider purchasing.
“Two are pure plays on liquefied natural gas exports – a little dicier – and then one is a more diversified story, really perfect for home-gamers who are worried about volatility,” the “Mad Money” host said.

Russia’s ongoing invasion of Ukraine has led the U.S. to raise concerns about restricted supply of commodities, like energy and food, as well as implement economic sanctions against Russia. The U.S said in late March that it will work with global partners to provide at least 15 billion cubic meters more of liquified natural gas to Europe this year in an attempt to lessen reliance on Russian imports. 
U.S. natural gas futures jumped about 6% to a nine-week peak on Tuesday.
Front-month gas futures rose 32.0 cents, or 5.6%, to settle at $6.032 per million British thermal units (mmBtu), their highest close since Jan. 27, Reuters reported.
Here is Cramer’s list of three LNG stocks he believes investors should be eyeing, starting with his favorite:
Sempra Energy

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Sempra Energy is “not a pure play, but does have a nice LNG export business,” Cramer said.
“I like it long-term, as it’s the single best growth utility around with a terrific liquefied natural gas kicker. … If you’re looking for ways to play Europe’s demand for liquefied natural gas, I like Sempra Energy the best,” he said, adding that the business is “consistent” and its stock is still cheap relative to the company’s earnings.
Cramer also discussed two other LNG stocks that he thinks could be investable: Cheniere Energy and Tellurian.
Cheniere Energy

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“It’s the safest pure play in the industry. … Analysts expect Cheniere’s sales and earnings to peak this year. If you believe the LNG business can stay strong beyond 2022, then you’ve got my blessing to buy this one, but otherwise it’s possible the good news is already baked in and we are in, suddenly, a not great stock market,” Cramer said.
Tellurian

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“Given that the stock has basically doubled since the end of last year, I think that you can afford to be patient here. Just wait for a better entry point,” Cramer said. 
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Disclaimer

Questions for Cramer?Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]

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CNBC’s Jim Cramer on Tuesday offered a list of apartment real estate investment trusts whose stock investors should consider buying to take advantage of soaring rent prices.
“With rents skyrocketing all across America, and with an uncertain housing crisis because of mortgage rates, you might want to own one of the best apartment REITs,” the “Mad Money” host said.

CNBC’s Jim Cramer on Tuesday offered a list of apartment real estate investment trusts whose stock investors should consider buying to take advantage of soaring rent prices.
“Since higher rents are only good news for landlords, why not just buy a landlord, or at least a piece of a publicly traded landlord? Don’t just be a renter, be a rentier via one of the apartment real estate investment trusts,” the “Mad Money” host said.

“With rents skyrocketing all across America, and with an uncertain housing crisis because of mortgage rates, you might want to own one of the best apartment REITs,” he later added.
Median one-bedroom prices in March were up around 12% year-over-year while two-bedroom prices increased around 14% year-over-year, according to the Zumper National Rent Report.
Cramer started with the 17 names in the FTSE NAREIT Equity Apartment Index before narrowing the list down to the 10 largest REITs. He then evaluated each name by comparing their numbers for each category:

Same-store net operating income growth
Projected revenue growth
Projected funds from operations
Valuation
Dividend yields

Using this criteria, Cramer came up with four winners that investors should keep their eyes on.
Here are the top four apartment REITs:

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Disclaimer

Questions for Cramer?Call Cramer: 1-800-743-CNBC
Want to take a deep dive into Cramer’s world? Hit him up!Mad Money Twitter – Jim Cramer Twitter – Facebook – Instagram
Questions, comments, suggestions for the “Mad Money” website? [email protected]

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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Nov Inc: “After some lean years, it’s time for the good years.”

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Fisker Inc: “Fisker is the ultimate [speculative] stock, they’re going to lose money as far as the eye can see. … I think it’s a great spec, but it’s only a spec.”

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