Monday, October 5, 2020

BREW WITH HEADLINES

 



Trump Pence Make America Great Again

Daily Brew

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Quick Base

Good morning. This was a great weekend to have news push notifications turned off, if nothing else to save your phone battery. 

If you were among those lucky people, we’ll catch you up.

MARKETS YTD PERFORMANCE


NASDAQ

11,075.02

+ 23.43%

S&P

3,348.44

+ 3.64%

DJIA

27,682.81

- 3.00%

GOLD

1,904.50

+ 25.30%

10-YR

0.662%

- 125.80 bps

OIL

36.99

- 39.57%

*As of market close

  • Markets: Stocks didn’t make any dramatic moves on Friday following President Trump’s Covid-19 diagnosis and a downer September jobs report.
  • 2020: Joe Biden leads Trump by 14 points nationally, according to a new NBC News/WSJ poll released yesterday. This poll was conducted in the two days following the first presidential debate last Tuesday.

Chip Somodevilla/Getty Images

On a normal day, the president can't sneeze without generating breaking news alerts. Now that he's hospitalized with Covid-19, Trump's every handshake and passing "hello" from the last two weeks is facing intense scrutiny in the most prominent case of contact tracing to date.

  • How it works: Contact tracers make a list of everyone an infected person came in contact with. Then, they find those people and tell them to self-isolate before infecting others. 

A few gatherings stand out 

President Trump attended at least 10 events while he may have been infectious, including a nomination ceremony for his Supreme Court pick. As you can see above, there weren't a lot of masks or distancing, and at least seven attendees later tested positive, including the first lady and Utah Sen. Mike Lee. 

These events have also disrupted private sector operations working close to the administration. A trio of White House journalists recently tested positive, and ABC News is quarantining staff who came in contact with Christie during a post-debate broadcast. The president of the University of Notre Dame, one of 18 faculty who attended the nomination, tested positive Saturday. 

Is that what happens when we get sick? 

Don't expect the national news cycle treatment, but 21% of Americans now have access to contact tracing tools. Last week, New York and New Jersey became the ninth and tenth states to release tracing apps, and seven more plus D.C. have apps in testing or development. 

  • States are using a protocol co-developed by Apple and Google that uses Bluetooth technology to sense close contact to other app users for an extended period of time. 

Unlike many foreign governments, the U.S. left contact tracing to individual states, igniting concerns about fragmented tracing that doesn't account for movement across state lines. New York and several surrounding states have become the first to make their apps talk to each other. 

Will it work? Researchers think an installation rate of just 15% of a population could help suppress the virus's spread. Virginia's app, which has been out the longest, has 11%. States are still fighting an uphill battle to convince the public these apps won't violate their privacy.

        

ALEX EDELMAN/AFP via Getty Images

The president of the United States is in the hospital with the coronavirus. How is he being treated?  

Remdesivir: The president received his first dose of remdesivir on Friday as part of a five-day course. Remdesivir might be a familiar name—it's made by Gilead Sciences and was widely discussed back in the spring, during the first wave of this health crisis.

  • It hasn't received full FDA approval (just emergency use authorization). However, it has been shown in clinical trials to help hospitalized Covid patients. 

Antibody cocktail: Last Friday, the president's doctor Sean Conley said Trump received an experimental antibody cocktail from drugmaker Regeneron (whose stock rose after hours following the disclosure). 

Dexamethasone: Yesterday, Conley said that the president was given a dose of the steroid dexamethasone, which has been shown to help Covid-19 patients with more severe cases. Trump also received supplemental oxygen Friday, the medical team disclosed.

Looking ahead...Trump’s doctors said the president, who made a surprise motorcade appearance last night, could be discharged from the hospital as early as Monday. However, their credibility has been diminished following a series of misleading statements made to the public this weekend around the president's health.

        

Adam Glanzman/Getty Images

"Act fearlessly but with common sense."—British PM Boris Johnson told the people of the UK things will likely be "bumpy" through Christmas and beyond. 

"GET IT DONE."—President Trump, tweeting from Walter Reed, said the U.S. "WANTS & NEEDS" stimulus measures to keep the recovery going. Both parties have signaled progress, but there's no concrete deal on the table yet.

"The fragility of world systems in the face of the pandemic has demonstrated that not everything can be resolved by market freedom."—Pope Francis called for economic reforms post-Covid in a new encyclical

"A 'breakup' of Facebook is thus a complete nonstarter."—Facebook's lawyers penned a 14-page document that gives a window into its defense against antitrust inquiries. The company is completely against sawing off WhatsApp and Instagram from FB.

"I need a new quarterback."—a guy sitting next to us on the subway had to tweak his fantasy team's roster after learning Patriots QB Cam Newton tested positive for the coronavirus. The Patriots-Chiefs game was postponed to tonight.

        

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Francis Scialabba

By tomorrow, major movie theater operator Cineworld could decide whether to indefinitely close its Regal Cinemas in the U.S., as well as its theaters in the UK and Ireland.

Why now? On Friday, MGM announced it's pushing the release of the newest James Bond flick, No Time to Die, to April 2021.

Studios have delayed most major releases because of the pandemic, and 2020 had just three blockbusters left: No Time to Die, Wonder Woman 1984, and Dune. With Bond taking an extra vacation (and theaters potentially closing), the last two could be delayed as well, leaving movie theaters with a slimmer menu than In-N-Out. 

  • Christopher Nolan's Tenet, the first big test for theater attendance during the pandemic, has earned a lackluster $40+ million in the U.S. since its September release.

Big picture: Having lost $1.6 billion in the first half of 2020, Cineworld has been on rocky footing for a while. If it chooses to close theaters, thousands of jobs across 543 Regal Cinemas in the U.S. and 128 cinemas in the U.K. and Ireland will be put at risk. 

        

CALENDAR

The Week Ahead

Following President Trump's Covid-19 diagnosis, Kamala Harris and Mike Pence will reportedly be seated 12 feet apart at the VP debate this week (it was previously 7 feet). 

Monday: The U.S. Supreme Court begins a new term

Tuesday: Trade balance report; Job Openings and Labor Turnover Survey (JOLTS) 

Wednesday: VP debate

Thursday: Initial jobless claims; Domino's earnings

Friday: FIFA 21 release; Nobel Peace Prize winner announced

        

WHAT ELSE IS BREWING

  • New York City is implementing new shutdowns of schools and businesses in nine neighborhoods with Covid-19 outbreaks.
  • Airbnb will block one-night rentals during Halloween weekend to prevent unauthorized parties.
  • California is set to reach a record 4 million acres burned by wildfires this year. 
  • Anthem and UnitedHealthcare are no longer waiving copays and deductibles for virtual visits not related to the coronavirus.
  • Fighting between Armenian and Azerbaijani forces continued on Sunday. The conflict has killed dozens since it broke out Sept. 27.

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FROM THE CREW

Start Talking

Every Monday, we curate a handful of balanced resources about a hot-button business issue and encourage you to discuss with friends, family, or coworkers. 

This week's topic: Your colleague catches Covid-19—do you have a right to know? Should you have a right to know? Few workplaces will remain untouched by Covid-19, but disclosing that an employee tested positive can run afoul of privacy rules or norms.

  • Four approaches to telling employees someone got Covid-19. (DealBook)
  • How do workers feel about the safety vs. privacy tradeoff? (HR Dive)
  • What employers are actually allowed (and not allowed) to do. (National Law Review)
  • Workplace privacy can feel like it's at odds with public health. (Politico)
  • At colleges and universities, Covid-19 reporting is largely done on a case-by-case basis, leaving a patchwork of approaches. (WSJ)

CROSSWORD

Like finance? You'll love the theme to this week's Brew Crossword, brought to you by reader Glen Anderson. Play the crossword here

Think you have what it takes to make a puzzle? Check out our crossword guidelines then submit your own.  

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October 05
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MORE EVENTS ON THIS DAY
Steve Jobs
2011: American businessman Steve Jobs, a pioneer of the personal computer era who cofounded Apple and transformed it into one of the world's most successful companies, died at age 56. [ Take our quiz about tech companies.]
Marion Jones
2007: Following years of speculation—and denials—American track star Marion Jones pleaded guilty to steroid use, and several months later she was stripped of her five Olympic medals, three of which were gold. [ Read our list of seven unsportsmanlike sportsmen.]
Barry Bonds
2001: Barry Bonds of the San Francisco Giants broke Mark McGwire's single-season home-run record when he hit his 71st and 72nd home runs of the season and finished the season with 73. [ How much do you know about baseball?]
Bill Clinton
1998: The Judiciary Committee of the U.S. House of Representatives recommended impeachment hearings against President Bill Clinton. [ Test your knowledge of U.S. presidents.]
Kate Winslet
1975: English actress Kate Winslet, who was known for her sharply drawn portrayals of spirited and unusual women, was born. [Sort fact from fiction in our quiz about A-list actors.]
Public Broadcasting Service logo
1970: PBS began broadcasting on American television, and it became known for various programs, notably the children's shows Sesame Street and Mister Rogers' Neighborhood (starring Fred Rogers).
SEE ALL EVENTS ON THIS DAY
Columnists
Dangerous Talk From Stupid People

Kurt Schlichter


Trump's Path Through the Virus Depends on These Variables

Mark Davis


President Hillary Clinton Had a 14-Point Lead Too

Derek Hunter


Should The Fact That Trump Caught COVID Be A ‘Cautionary Tale’ For Team Reality?

Scott Morefield


Fish Tales: The Bull Red Drum That Got Away

Gabriella Hoffman



Is Tax Law or the MSM the Problem?

Carol Vance


A Thought Experiment for Your Liberal Friends

Jeff Davidson


Joe Biden and the Green New Deal

Chris Talgo


If You Think the Police Are Brutal and Biased Now…

Rachel Alexander


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Once Again, Why So Many Evangelical Christians Strongly Support Trump

Michael Brown



Video
Gov. Evers: Saying Abortionists 'Execute Babies' Is 'Blasphemy'
Trump blasts Schiff as 'political hack'

Pelosi's condescension offers some laughs
Pelosi open to border infrastructure
INVESTING
Amidst Global Warming Hysteria, NASA Expects Global Cooling

What Jesus Said About ‘Mask Wearers’

How Apple’s Success Confirms the Great Man Theory and Say’s Law

The Scam “Second Wave" Is More Testing And Cherry-Picking


Tipsheet
ICYMI: Here's Why Three Astronauts Have Endorsed McSally and not Mark Kelly

Bronson Stocking


ICE Is Using a New Strategy to Educate People About the Dangers of Sanctuary Policies

Bronson Stocking


WATCH: Trump Waves to Supporters Outside Walter Reed

Bronson Stocking


Devin Nunes: Intelligence Agencies Should Be Shut Down, At Least Temporarily

Beth Baumann


Oh Look, Another Fake Hate Crime

Bronson Stocking


Take a Wild Guess Why Dems Suddenly Oppose Virtual Hearings

Beth Baumann


Tom Cotton: SCOTUS Vote Will Happen Even If...

Beth Baumann


A Strange Thing Happened to President Trump's Star on the Hollywood Walk of Fame

Beth Baumann


Trump's Physician Reveals When Trump Could Be Released From Walter Reed

Beth Baumann


It Looks as Though the Biden Campaign Made an Admission About Pulling Negative Trump Ads

Beth Baumann


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Political Cartoons
Bearing Arms
Outrage Over YouTuber Illustrates Unhinged Anti-Gun Narrative | Tom Knighton

Slain Parkland Student Urges Gun Control In New Ad | Cam Edwards

September Another Record Setting Month ForGun Background Checks | Cam Edwards


Ron Paul Blows The Lid Off The Worldwide Coronavirus SCAM 
 
 
What's happening in America right now is being taken advantage of by those who want to profit politically from the panic.
 
To them, it's a perfect chance to steal more of our constitutional freedoms and set America up for a socialist future.
 
If that sounds too extreme, just consider:

The Department of Justice recently asked Congress for the ability to detain Americans—without trial—during "emergencies" like this...

Others have proposed we "eliminate all political borders"...

And according to a recent story in Politico, the White House Coronavirus Task Force is considering creating a national surveillance system to track Americans' health information – essentially a healthcare Patriot Act!
 
Don't forget: In many states, it's now illegal to publicly worship at a church. A blatant disregard for the First Amendment. (And many state constitutions, as well.)
 
 
One former Trump advisor is warning that this could spark the next Great Depression.
 
But I think the results could be even worse...
 
I explain why – and the #1 first step every American should take to prepare right now – in a short new video I put together.
 
 
Sincerely,
 
Dr. Ron Paul 

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