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Data: FactSet; Chart: Axios Visuals

Moderna's stock soared 12% Monday, putting its market cap just shy of $150 billion.

Driving the news: The Omicron variant of the coronavirus has raised a lot of questions, including whether the vaccines will remain as effective.

  • But experts have expressed caution, saying it'll be weeks before we know more about how infectious this strain is and how it affects the vaccines.
  • "We need to wait for the data to know if this is true and how much is it going down," Moderna CEO Stéphane Bancel told CNBC about the company's vaccine effectiveness.
  • Moderna is working on a multi-variant booster and an Omicron-specific vaccine, Bancel said.

Between the lines: Moderna's COVID-19 vaccine is the company's only approved product right now.

  • Consequently, every coronavirus development significantly affects the company because the vaccine is the company at this point in time.

What to watch: Whether the Biden administration will put more pressure on Moderna to share its vaccine know-how with other companies and organizations.

Go deeper

Updated 15 hours ago - Politics & Policy

Omicron dashboard

Illustration: Aïda Amer/Axios

  1. Health: Fauci: "Confident" Omicron cases will peak in February — FDA OKs antiviral drug remdesivir for non-hospitalized COVID patients — Walensky: CDC language "pivoting" on "fully vaccinated".
  2. Vaccines: Annual COVID vaccine preferable to boosters, says Pfizer CEO — Team USA 100% vaccinated against COVID ahead of Beijing Olympics.
  3. Politics: Arizona governor sues Biden administration over COVID funds tied to mandates — Biden concedes U.S. should have done more testing — Arizona says it "will not be intimidated" on anti-mask school policies.
  4. World: Beijing Olympic Committee lowers COVID testing threshold ahead of Games — Beijing officials urge COVID-19 "emergency mode" before Winter Olympics — Austria approves COVID vaccine mandate for adults.
  5. Variant tracker

Europe's energy reliance on Russia is a crucial shield for Putin

Illustration: Annelise Capossela/Axios

Cracks in the NATO alliance regarding sanctions for Russia should President Vladimir Putin order troops into Ukraine are in large part based on energy supply concerns.

Why it matters: Russia holds tremendous leverage over some European countries because it provides roughly 40% of Europe's natural gas supply. In Germany, this figure is greater than 50%.

Why the Fed might want to jolt the markets

Fed chair Jerome Powell at a hearing earlier this month. Photo: Brendan Smialowski-Pool/Getty Images

So far, financial markets are cooperating nicely with the Federal Reserve's efforts to restrain inflation. They're doing the Fed's work for it by creating tighter financial conditions, in a distinctly non-panicky way.

  • But as the central bank's policymakers meet this week, an underlying question they face is whether the adjustment is happening too slowly.