News that a Pfizer booster shot does a good job protecting against the COVID-19 Omicron variant was greeted enthusiastically by Wall Street Wednesday, as the stock markets got a big boost amid hopes that the variant won’t have a huge negative impact on the economy.

                By                    Vance Cariaga

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Pfizer and BioNTech, which partner on the booster, said on Wednesday that three doses of the vaccine have proven effective against Omicron. A booster shot increases antibody protection 25-fold compared with the initial two-dose series, according to a preliminary lab study.

Meanwhile, a third shot shows that the vaccine’s ability to fight the virus is comparable to the protection provided by two doses against the original strain of the virus, CNBC reported.

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“Although two doses of the vaccine may still offer protection against severe disease caused by the Omicron strain, it’s clear from these preliminary data that protection is improved with a third dose of our vaccine,” Pfizer CEO Albert Bourla said in a joint statement with BioNTech.

“Ensuring as many people as possible are fully vaccinated with the first two-dose series and a booster remains the best course of action to prevent the spread of COVID-19.”

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The prospect of an effective Omicron vaccine helps quell some of those fears — at least for the stock markets. The Dow, S&P and Nasdaq all pushed much higher early Wednesday following a strong rally on Tuesday, CNN Business reported.

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