Coronavirus and Recent Market Volatility

 

As you know, the Coronavirus (COVID-19) is impacting our daily lives in a variety of ways. With the recent news in the headlines and tremendous market volatility we understand that now is a time that communication is critical. Our top priority is the safety and health of our employees, partners, and clients. The Coronavirus (COVID-19) has continued to spread globally with new cases being reported on a daily basis. While the economic impact of the virus is still unknown, uncertainty related to the potential economic impact concerns. Below you may access our recent outlooks and insights on the Coronavirus and the potential implications for the stock market.

 

Timely Insights

May 27, 2020

  • Maintaining a healthy lifestyle, exercise regimen, and diet is difficult in the best of times, and it’s become that much harder in the wake of COVID-19. With gyms shut down, many Americans have turned to junk food and late night snacks to calm their viral nerves over the past few months. While college students have long fought to keep off the infamous “freshman 15,” adults of all ages are now swearing off the newly-dubbed “COVID-15.” In fact, according to a new survey of 2,000 U.S. citizens, one in two (49%) are afraid they’ll never get their pre-quarantine body back.
  • Ford is ready to bring the heat to the coronavirus fight. The automaker has developed a software update for some of its Explorer-based Police Interceptor Utility patrol vehicles that allows them to use the climate control system to raise the cabin temperature to 133 degrees for 15 minutes to help kill any coronavirus inside. Research conducted in conjunction with The Ohio State University found that the cycle could reduce concentrations of the virus present by up to 99 percent.
  • As the U.S. continues to battle the novel coronavirus outbreak, fears over a second wave of cases have been looming over the country. While there is no doubt that more cases will continue to emerge in the months ahead, it's not too late for America to prevent a second wave of COVID-19, according to Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases (NIAID) and member of the White House COVID-19 task force.

May 26, 2020

  • As more places across the US offer people a chance to shop or dine inside, the issue of whether to wear a mask has again become a flashpoint. The US Centers for Disease Control and Prevention recommends wearing a cloth face covering in public when it is hard to stay socially distant. But some Americans have resisted wearing a face covering, arguing that adhering to mask wearing rules feels like a forfeiture of their freedoms.
  •  “No mask, No service” signs are popping up at all kinds of businesses as the country begins to slowly reopen after the coronavirus pandemic shutdown that began in March. Some retail chains, like Costco Wholesale, have already started to require masks for all customers and employees. The move follows a flood of videos on social media showing shoppers who refuse to wear face masks being confronted by store employees (and other shoppers, in some cases) who explain that customers are required to wear masks. But can store owners legally enforce that policy? The short answer is yes, as long as they don’t discriminate against anyone on the basis of “protected classes” such as gender, race, age, disability, national origin and religion.
  • There have been over 1.5 million confirmed coronavirus cases and over 94,000 deaths as of May 21, but the rate of spread of the coronavirus appears to be slowing in some parts of the country. The U.S. has not had a day with over 30,000 new infections since May 2. While infections are trending down nationwide, not every state has seen the worst of the pandemic yet. 24/7 Wall St. reviewed projections from the Institute for Health Metrics and Evaluation which provides estimated peak COVID-19 dates in every state, both in terms of the total number of estimated active infections and the total number of hospital beds needed to treat COVID-19 patients. Unlike frequently cited confirmed infections data, the IMHE active infection estimate takes into account people who are asymptomatic or untested.

May 25, 2020

May 24, 2020

  • The U.S. COVID-19 death toll has nearly surpassed 100,000, according to data from the Johns Hopkins University Coronavirus Resource Center. The total number of confirmed cases in the country stands at just over 1.6 million with more than 361,200 of those being patients that have recovered. The worst-hit state is New York with more than 29,000 fatalities, followed by New Jersey and Massachusetts with over 11,000 and 6,300 COVID-19 deaths respectively.
  • President Donald Trump said he completed his course of treatment with hydroxychloroquine, the anti-malaria drug he’s promoted as a therapy for coronavirus despite an outcry from medical professionals about its unproven efficacy and potential side effects.

May 22, 2020

  • In new guidance for mathematical modelers and public health officials, the US Centers for Disease Control and Prevention is estimating that about a third of coronavirus infections are asymptomatic. The CDC also says its "best estimate" is that 0.4% of people who show symptoms and have Covid-19 will die, and the agency estimates that 40% of coronavirus transmission is occurring before people feel sick. The agency cautions that those numbers are subject to change as more is learned about Covid-19, and it warns that the information is intended for planning purposes. Still, the agency says its estimates are based on real data collected by the agency before April 29.

May 20, 2020

May 19, 2020

May 18, 2020

  • Fewer Americans are calling their mortgage servicers to ask for relief from mortgage payments, but the housing industry isn’t out of the woods yet. More than 4.1 million homeowners are in forbearance plans now, according to the latest data from the Mortgage Bankers Association. While mortgage servicers are still facing stress because of the record deluge of requests for payment relief, signs suggest that homeowners’ prospects have improved as parts of the country have begun to emerge from coronavirus stay-at-home orders.
  • Some 108 million people in China’s northeast region are being plunged back under lockdown conditions as a new and growing cluster of infections causes a backslide in the nation’s return to normal. In an abrupt reversal of the re-opening taking place across the nation, cities in Jilin province have cut off trains and buses, shut schools and quarantined tens of thousands of people. The strict measures have dismayed many residents who had thought the worst of the nation’s epidemic was over. While the cluster of 34 infections isn’t growing as quickly the outbreak in Wuhan which started the global pandemic last December, China’s swift and powerful reaction reflects its fear of a second wave after it curbed the virus’s spread at great economic and social cost. It’s also a sign of how fragile the re-opening process will be in China and elsewhere as even the slightest hint of a resurgence of infections could prompt a return to strict lockdown.

May 17, 2020

May 15, 2020

May 13, 2020

  • A viral video from Japan aims to show how easily germs and viruses can spread in restaurants when just one person is infected. The experiment simulates the atmosphere at a buffet restaurant or on a cruise ship. It was conducted by the public broadcasting organization NHK in conjunction with health experts. The video shows 10 people coming into the restaurant, with one singled out as the "infected" person. Each participant goes about the buffet as they normally would, not considering a potential contamination. At the end of the video, the participants are cast under black lights illuminating where the "infection" has spread. The substance, used to signify the germs, can be seen on food, serving utensils and platters, and even on the faces of some of the participants.
  • The FBI said it had seen hacking attempts on US groups researching vaccines, treatments and testing. The US has long accused the Chinese government of cyber-espionage, something Beijing denies. The pandemic has worsened tensions between the two countries, which have both accused each other of failing to contain the outbreak.
  • Scientists race to find a cure or vaccine for the coronavirus. There are no proven, knockout treatments and U.S. health officials say a vaccine could take at least a year to 18 months.
  • The novel coronavirus has brought the shared scooter and bike business to the brink of financial collapse. Demand has evaporated — an analysis of credit card data by The New York Times found that spending on scooter rentals had fallen the most of all transportation modes, by nearly 100 percent — companies are laying off employees en masse, and their previously sky-high valuations have been almost wiped out. Rather than basking in the sun and delighting in the reduced car traffic, the scooter industry is looking at end times.

May 12, 2020

  • There’s one big reason the U.S. economy can’t reopen. The country faces the same problem today that it did two months ago: there are not enough tests to contain the virus.
  • A high-profile infectious disease researcher warns COVID-19 is in the early stages of attacking the world, which makes it difficult to relax stay-at-home orders without putting most Americans at risk. Dr. Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, said the initial wave of outbreaks in cities such as New York City, where one in five people have been infected, represent a fraction of the illness and death yet to come.
  • New York Gov. Andrew Cuomo said on Sunday that the number of new daily Covid-19 hospitalizations had returned to the level it was at when he issued a statewide closure of nonessential businesses nearly two months ago. Cuomo said that 521 people were hospitalized with the disease on Saturday and 207 died of it. The hospitalization figure, he said, “takes us right back to where we started this hellish journey.” “Where we are today is basically, with the number of new cases, is basically right where we were when we started. It has been a painful period of time between March 20 to May 9,” Cuomo said.
  • U.S. grocery costs jump the most in 46 years, led by rising prices for meat and eggs.

May 11, 2020

May 10, 2020

  • China on Sunday reported the first case of coronavirus in over a month in Wuhan, the city where the outbreak first started in December last year.
  • Men's blood has higher levels than women's of a key enzyme used by the new coronavirus to infect cells, the results of a big European study showed on Monday -- a finding which may help explain why men are more vulnerable to infection with COVID-19. The study, published in the European Heart Journal, also found that widely-prescribed drugs called ACE inhibitors or angiotensin receptor blockers (ARBs) did not lead to higher ACE2 concentrations and should therefore not increase the COVID-19 risk for people taking them.
  • It’s no surprise that news outlets are in demand with a story that directly affects so many people, whether they’ve gotten sick, lost jobs or are locked down at home. A Pew Research Center survey taken the third week of April found that 88 percent of Americans said they were following coronavirus news either very or fairly closely. Yet that takes a toll. Pew also found that 71 percent of Americans said that they need to take breaks from the news. To watch something else. To do something else. To breathe a little.
  • The real unemployment rate, which includes people who are not looking for work or are underemployed, already stands at 22.8%. Mnuchin acknowledged that the jobless rate may be even higher and stand at 25%. “The reported numbers are probably going to get worse before they get better,” he said.
  • In places like China, robots and drones are being used to spray disinfectant in public spaces. Airlines and companies like Amazon have been using disinfectant fogging as a sanitation technique to keep their facilities clean. But there is another solution. Ultraviolet light is an effective tool that has been in use for decades in hospitals and operating rooms. The global UV disinfection equipment market was valued at $1.1 billion in 2018 and is projected to reach $3.4 billion by 2026, according to Allied Market Research. Technological breakthroughs in UV light could become a key piece in returning to normal in a world with the looming threat of Covid-19.

May 9, 2020

  • The debt of the federal government topped $25 trillion for the first time on Tuesday, when it climbed from $24,948,983,700,916.84 to $25,057,924,023,406.80, according to data released by the Treasury Department. On Wednesday, it continued to climb, reaching $25,058,528,802,142.42 by the close of business that day. The federal debt had topped $24 trillion for the first time on April 7, when it rose from $23,917,212,663,857.59 to $24,011,523,316,653.36. Thus, the federal debt increased by more than $1 trillion in just 28 days.

May 7, 2020

May 6, 2020

May 5, 2020

May 4, 2020

  • A Trump administration projection and a public model predict rising death tolls. More states are allowing certain businesses to open, even as cases grow. The White House will restrict coronavirus officials from testifying before Congress. The Supreme Court heard the first arguments via phone. California readies plans for some stores to reopen on Friday. World leaders pledge $8 billion for a vaccine, but the U.S. declines to participate. As daily deaths fall in New York, Cuomo outlines criteria for reopening.
  • They politely took turns speaking. Not a child, spouse or dog could be heard in the background. The conference call went long, but not by that much. And with that, the Supreme Court made history Monday, hearing arguments by telephone and allowing the world to listen in live, both for the first time. The arguments were essentially a high-profile phone discussion with the nine justices and two arguing lawyers. The session went remarkably smoothly, notable for a high court that prizes tradition and only reluctantly changes the way it operates.
  • Another threat from the lung virus that causes Covid-19 has emerged that may cause swift, sometimes fatal damage: blood clots. Doctors around the world are noting a raft of clotting-related disorders -- from benign skin lesions on the feet sometimes called “Covid toe” to life-threatening strokes and blood-vessel blockages. Ominously, if dangerous clots go untreated, they may manifest days to months after respiratory symptoms have resolved.

May 3, 2020

  • The US just reported its deadliest day for coronavirus patients as states reopen, according to WHO. The U.S. saw 2,909 people die of Covid-19 in 24 hours, according to the data, which was collected as of 4 a.m. ET on Friday. That’s the highest daily death toll in the U.S. yet based on a CNBC analysis of the WHO’s daily Covid-19 situation reports. The country’s deadliest day comes as state officials weigh reopening parts of the economy and easing stay-at-home orders.
  • U.S. officials believe China covered up the extent of the coronavirus outbreak — and how contagious the disease is — to stock up on medical supplies needed to respond to it, intelligence documents show. Chinese leaders “intentionally concealed the severity” of the pandemic from the world in early January, according to a four-page Department of Homeland Security report dated May 1 and obtained by The Associated Press. The revelation comes as the Trump administration has intensified its criticism of China, with Secretary of State Mike Pompeo saying Sunday that China was responsible for the spread of disease and must be held accountable.
  • COVID-19 meat shortages could last for months. Experts warn that shoppers should prepare for meat to be more expensive, less varied and harder to find over the coming weeks and even months. Here's what you need to know before your next grocery shopping trip.

April 30, 2020

  • President Donald Trump has speculated that China could have unleashed the coronavirus on the world due to some kind of horrible “mistake,” and his intelligence agencies said they are still examining a notion put forward by the president and aides that the pandemic may have resulted from an accident at a Chinese lab. Trump even suggested Thursday that the release could have been intentional. The Office of the Director of National Intelligence, the clearinghouse for the web of U.S. spy agencies, said it had ruled out the virus being man-made but was still investigating the precise source of the global pandemic, which has killed more than 220,000 people worldwide.
  • With coronavirus cases beginning to level off, states are looking to jump-start economies hard hit by the virus. And with jobless claims totaling 30.3 million in six weeks, Americans are clamoring to get back to work. Governors have taken vastly different tactics in developing plans to reopen business in their states and remove social-distancing restrictions. Here’s a complete, state-by-state listing, which will be periodically updated.
  • America’s meat processing-plants are hard-hit by COVID-19. Speculation runs that the immigrant laborers are less aware of health precautions given in English and that their living situations and the “elbow-to-elbow” nature of work at these industrial butchers and packers make them especially vulnerable. Tyson’s CEO warned that closure of plants mean that “millions of pounds of meat will disappear from the supply chain.” Millions of animals that are raised for slaughter may simply be plowed under and buried alive.

April 28, 2020

  • The U.S. National Archives says that 58,220 American soldiers died in the Vietnam conflict, which began in 1955 and ended in 1975. Covid-19 has now claimed more lives in the U.S. since it officially arrived in the country in January, according to data compiled by Johns Hopkins University. Nearly half of the country’s deaths are concentrated in New York state, which is home to the epicenter of the U.S. outbreak, New York City.
  • The coronavirus has now infected more than 1 million people in the United States as the nation grapples with roughly a third of all global cases — making it the worst outbreak in the world, according to data compiled by Johns Hopkins University. A large portion of U.S. Covid-19 cases remain in New York state, where Gov. Andrew Cuomo is currently testing about 20,000 people a day for the virus and is working with President Donald Trump to double that number.
  • As New York prepares to let businesses reopen with the easing of the coronavirus pandemic, the state will have measures in place that will signal another outbreak of the disease and the need to curb activity once again, Gov. Andrew Cuomo said Tuesday. In particular, Mr. Cuomo said that if either the hospital system in an area of the state hits 70% of capacity or if the rate of transmission reaches 1.1—meaning for every person who has the virus, another 1.1 are infected—that would constitute what he called a “circuit breaker.”

April 27, 2020

  • America's food supply chain is in trouble because of coronavirus outbreaks in rural meatpacking plant communities. For consumers, this means less meat at the grocery store. For many farmers, this means the prospect of financial ruin. For many animals, this means euthanasia instead of slaughter. Plants in more than a dozen states have closed in recent weeks, spanning beef, pork, poultry and fish.
  • JetBlue was one of the first U.S. airlines to mandate crew to wear masks while working. And now, it’s the first to require the same from passengers. This new policy, which goes into effect on May 4, 2020, will be applied throughout all steps of the passenger journey — from check-in all the way through deplaning. JetBlue plans to remind passengers of this policy both before their flight and in the airport terminals.
  • In the last week alone, there has been a 43% jump in the number of reported COVID-19 cases in Africa, and the World Health Organization (WHO) warned that the continent of 1.3 billion people is poised to potentially become the next epicenter of the highly infectious and deadly disease.
  • UPS plans to use drones for deliveries of prescription medicines from a CVS pharmacy to The Villages retirement community in Florida. The Sandy Springs-based shipping giant said the service by its drone-subsidiary UPS Flight Forward will support social-distancing efforts and allow faster same-day delivery of medicines as an alternative to visiting a pharmacy.

April 26, 2020

April 24, 2020

  • The Centers for Disease Control and Prevention has tripled the number of coronavirus symptoms it lists on its website. The federal organization previously listed fever, cough and shortness of breath as symptoms of COVID-19. The CDC has added six additional symptoms as people “have had a wide range of symptoms reported,” it says on its website.
  • The economy will shrink at an annualized rate of 39.6 percent in the second quarter, according to the latest projections from the nonpartisan Congressional Budget Office (CBO), its first to take into account the effects of the coronavirus pandemic. The CBO projects that things will rebound somewhat in the third quarter, with 23.5 percent annualized growth, followed by a projection of 10.5 percent growth in the final quarter of the year.
  • The millions of Americans who have lost their jobs in recent weeks due to the coronavirus pandemic will have a devastating effects on the economy going forward as workers are left without pay. Losses in April alone could push the unemployment rate to 16%, according to James Knightley, chief international economist at ING. If another 10 million Americans file jobless claims in May, that would push the unemployment rate to 22%, he said.

April 23, 2020

  • The US economy has wiped out all the job gains since the Great Recession. The Labor Department reported that the number of Americans applying for state unemployment benefits totaled 4.427 million last week. Combined with the prior four jobless claims reports, the number of Americans who have filed for unemployment over the last five weeks is 26.45 million. That number far exceeds the 22.442 million jobs added to payrolls since November 2009, when the U.S. economy began to add jobs back after the recession.
  • The U.S. agency that enforces civil rights laws against disability discrimination said on Thursday that companies can test employees for COVID-19 before permitting them to enter the workplace as long as the tests are accurate and reliable. The Equal Employment Opportunity Commission (EEOC) last month said employers may take workers’ temperatures without violating the the Americans with Disabilities Act (ADA), but Thursday’s guidance appears to authorize a broader array of testing options.
  • More evidence is emerging that far more New Yorkers have had the coronavirus than the number confirmed by lab tests, officials said Thursday, offering insight that could help authorities decide how and how quickly to let people stop isolating from friends and return to work. Blood samples collected from about 3,000 people indicated that nearly 14% had developed antibodies to fight a coronavirus infection, Gov. Andrew Cuomo said at his daily news briefing. In New York City, the epicenter of the pandemic in the U.S., 21% of the people tested had antibodies.

April 22, 2020

  • State and local governments are warning of a wave of layoffs and pay cuts after getting left out of the federal coronavirus relief package expected to pass Congress this week. In many places, such as Detroit and Los Angeles, those painful reductions are already taking shape. State and local governments received aid under the $2.2 trillion CARES Act signed late last month, but they are pleading for new relief as Congress prepares to pass a bill to help small businesses and hospitals.
  • Governors in 17 states have committed to regional coordination to reopen their economies during the coronavirus outbreak — but none are in the South, where leaders are going it alone, just as they did in imposing restrictions. As questions about when and how to ease virus-control measures becomes increasingly politically charged, governors in the Deep South have resisted any appearance of synchronization, instead driving home their message that each state must make its own decision.
  • A second wave of the coronavirus is expected to hit the United States next winter and could strike much harder than the first because it would likely arrive at the start of influenza season, the director of the Centers for Disease Control and Prevention warned on Tuesday. As the current outbreak continues to taper off, as shown by a recent decline in hospitalization rates and other indicators, authorities need to prepare for a probable resurgence in the months ahead.

April 21, 2020

  • Reopening the U.S. economy is complicated by some troubling scientific questions about the new coronavirus that go beyond the logistics of whether enough tests are available.
  • The World Health Organization (WHO) said on Tuesday that all available evidence suggests that the novel coronavirus originated in bats in China late last year and it was not manipulated or constructed in a laboratory. "All available evidence suggests the virus has an animal origin and is not manipulated or constructed virus in a lab or somewhere else," WHO spokeswoman Fadela Chaib told a Geneva news briefing. "It is probable, likely that the virus is of animal origin." It was not clear how the virus had jumped the species barrier to humans but there had "certainly" been an intermediate animal host, she added.
  • Can colleges survive coronavirus? The math is not pretty. Most campuses in the United States are sitting empty. Courses are online, students are at home. And administrators are trying to figure out how to make the finances of that work.

April 20, 2020

  • After weeks of sheltering in place, Americans are asking how soon we can return to a more normal life outside our homes. Much of the answer might be in a test. The first phase of testing has been about determining who has COVID-19. The next phase will be about who had it – or may still be fighting it. Instead of looking in our throats for the coronavirus itself, health care workers will look for signs in our blood that we developed antibodies to fight the virus.
  • Not since the Great Depression have so many in this country faced the prospect of being unable to put food on their table. And it's not just families trying to feed themselves, farmers, processing plants and supermarkets have all experienced disruptions. Late Friday, President Trump directed $19 billion in relief for farmers and ranchers to maintain the integrity of our food supply chain and to aid local food banks.
  • A flood of new research suggests that far more people have had the coronavirus without any symptoms, fueling hope that it will turn out to be much less lethal than originally feared. While that’s clearly good news, it also means it’s impossible to know who around you may be contagious. That complicates decisions about returning to work, school and normal life.

April 17, 2020

  • The Chinese city at the origin of the coronavirus outbreak, Wuhan, revised up its death toll by 50 percent on Friday, as global criticism mounted over China's handling of the deadly pandemic and as the U.S. plots re-opening.
  • Some of America’s largest food companies are finally feeling the pinch with restaurants across the U.S. remaining closed for weeks as a result of the coronavirus pandemic. After weeks of consumer hoarding, panic buying is abating and the lack of demand from shuttered restaurants, schools and coffee shops is starting to set in.
  • China acknowledged Friday that the coronavirus death toll in the one-time epicenter city of Wuhan was nearly 50% higher than reported, underscoring just how seriously the official numbers of infections and deaths around the world may be understating the dimensions of the disaster. In Italy, Spain, Britain, the United States and elsewhere, similar doubts emerged as governments revised their death tolls or openly questioned the accuracy of them.
  • A Chicago hospital treating severe Covid-19 patients with Gilead Sciences’ antiviral medicine remdesivir in a closely watched clinical trial is seeing rapid recoveries in fever and respiratory symptoms, with nearly all patients discharged in less than a week.

April 16, 2020

April 15, 2020

  • Hydroxychloroquine, the 65-year-old malaria drug that President Donald Trump has praised, appeared not to help patients get rid of the pathogen in a small study.
  • Coronavirus is making touch-free shopping a necessity. Amazon Go stores, delivery drones and contactless terminals will play a big role for consumers.
  • A team of government officials - led by the Federal Emergency Management Agency and the Centers for Disease Control and Prevention - has created a public health strategy to combat the coronavirus and reopen parts of the country.
  • U.S. President Donald Trump said on Wednesday his government is trying to determine whether the coronavirus emanated from a lab in Wuhan, China, and Secretary of State, Mike Pompeo, said Beijing “needs to come clean” on what they know.

April 14, 2020

  • Those $1,200 federal payments to help Americans through the coronavirus crisis have started arriving in some people's bank accounts via direct deposit. But many people will have to wait longer — and there could be pitfalls, such as debt collectors grabbing the money before you do.
  • The U.S. Treasury Department is holding firm on the terms of a $25 billion offer for government aid to airlines to help them meet payroll during the coronavirus downturn, officials said on Monday. Under Treasury’s terms, Reuters calculates that the government could end up with about 3% of American, which has the most employees of the U.S. carriers and has said it was seeking about $6 billion in payroll support.

April 13, 2020

  • More than 41,000 people in America have recovered from the coronavirus that has prompted states nationwide to close businesses and restrict social gatherings. As the United States looks toward the end of President Donald Trump's 30-day plan to slow the spread of the outbreak, recovered patients could be key to reopening the country. Based on how previous viruses have behaved, officials believe those who have recovered will have at least some immunity, meaning their return to daily life may be less likely to fuel an outbreak.
  • South Korea plans to send 600,000 coronavirus testing kits to the United States on Tuesday in the first such shipment following a request from U.S. President Donald Trump, a Seoul official told Reuters on Monday.

April 12, 2020

April 8, 2020

  • The researchers behind the new study tested the virus' life span in a 71-degree-Fahrenheit room at 65% relative humidity. After three hours, the virus had disappeared from printing and tissue paper. It took two days for it to leave wood and cloth fabric. After four days, it was no longer detectable on glass or paper money. It lasted the longest, seven days, on stainless steel and plastic.  Strikingly, the authors wrote, the coronavirus was still present on the outward-facing side of a surgical mask on day seven of the investigation. That's the longest duration of all the materials they tested.

April 6, 2020

  • U.S. Surgeon General Jerome Adams warned Sunday amid the coronavirus pandemic that the week ahead would be the “hardest and the saddest” of “most Americans’ lives.” He added, however, that there "is a light at the end of the tunnel if everyone does their part for the next 30 days."
  • What happens if you’re seriously ill and it’s not from Covid-19? At a world-renowned cancer center in Houston, a woman was told her lung-cancer surgery, booked weeks ago, could be canceled last-minute. In New York City, none of the doctors’ offices at a major hospital system are doing procedures. In Toronto, operating rooms sat empty at a hospital specializing in organ transplants and cardiac care, and surgeons rested at home as wards were cleared in preparation for what’s to come.

April 2, 2020

  • US weekly jobless claims double to 6.6 million. Initial jobless claims surged to more 6.6 million last week, the Labor Department said Thursday. That brings the two-week total to about 10 million due to the coronavirus-induced economic shutdown.
  • Antibody tests key to ending COVID-19 lockdowns. It's the key that opens to door from total lockdown: serologic testing, which will show definitively who has contracted COVID-19 and is in theory safe to return to work.
  • What to watch: Key data points as US nears 1 in 1,000 infected. Even with a lack of available testing and delays in getting test results back, about 1 in every 1,500 people in the U.S. have a confirmed case of coronavirus, according to data from Johns Hopkins University and the U.S. Census Bureau. The daily case count has been rising, but even if it levels off, the U.S. may still get to a point where 1 in 1,000 nationally have it in the next week or so.
  • Disaster in motion: 3.4 million travelers poured into US as coronavirus pandemic erupted. With the advent of COVID-19, the world has officially entered a dangerous new phase where a surge in international travel in recent decades served as the springboard -- jet fuel, really -- for an infectious disease potentially to kill hundreds of thousands in the U.S. and infect the global economy at breathtaking speed.

March 31, 2020

  • Cuomo says coronavirus is ‘more dangerous’ than expected as New York cases jump 14% overnight to 75,795.
  • Study shows middle-age COVID-19 mortality risk. They found that age was a key determining factor in serious infections, with nearly one in five over-80s requiring hospitalization, compared to around 1 percent among people under 30.

March 26, 2020

  • Jobless claims soar past 3 million to record high. Claims had been expected to hit a record 1.5 million for the week, according to economists surveyed by Dow Jones.

  • U.S. to Take Stakes in Airlines in Exchange for Grants, Mnuchin Says. Plan emerged during last-minute negotiations over $2 trillion economic rescue package to address coronavirus crisis. 

March 24, 2020

  • Traces of new coronavirus were found on surfaces in cruise-ship cabins for as many as 17 days after passengers left, researchers said, though it wasn’t possible to determine whether they caused any infections.

  • A key modelling study from Singapore has found that putting multiple social lockdowns in place - including school closures - will have the biggest impact on curbing COVID-19.

March 23, 2020

  • This was the fastest 30% sell-off ever, exceeding the pace of declines during the Great Depression.

  • Why this Nobel laureate predicts a quicker coronavirus recovery: 'We're going to be fine'. Michael Levitt, a Nobel laureate and Stanford biophysicist, began analyzing the number of COVID-19 cases worldwide in January and correctly calculated that China would get through the worst of its coronavirus outbreak long before many health experts had predicted. Now he foresees a similar outcome in the United States and the rest of the world.
  • U.S. Jobless Rate May Soar to 30%, Fed’s Bullard Says.  Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.
  • Lost sense of smell could be a peculiar clue to coronavirus infection. Several patients who have had symptoms consistent with coronavirus, but who have not been tested or are still awaiting results, described losing senses of smell and taste, even though their noses were clear and not congested. The loss occurred regardless of how sick they got, or whether they were congested. Using nasal drops or sprays did not help.

March 19, 2020

  • On March 17, 2020, the Federal Reserve announced that it is establishing a Commercial Paper Funding Facility (CPFF) to provide liquidity to credit markets. Many of the largest corporations in the world, including Apple, Caterpillar, and JP Morgan, use commercial paper to fund their daily operations. By supporting the commercial paper market, the Federal Reserve is assuring that high-quality corporations do not run into funding issues because of the coronavirus and its impact on financial markets.
  •  White House officials are working with congressional Republicans on an emergency stimulus package that could send two $1,000 checks to many Americans and also devote $300 billion towards helping small businesses avoid mass layoffs, according to two senior administration officials. The current $1 trillion Trump plan would seek to spend $500 billion towards the cash payments to individual Americans, though some people wouldn't qualify if their income is over a certain level.
  • The UCLA Anderson School of Business predicted Monday that the economic recession caused by the tightening government restrictions would cost 2 million jobs and raise the national unemployment rate to 5% over the next few months — up from 3.5% in February. Administration officials have warned Congress the unemployment rate could quickly soar into double digits.



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