AFN
NEWS
Thursday, May 7, 2020
1)
From ABC News, I’m Daria Albinger. Governors
have been telling President Trump they need the federal government to help more
with testing for COVID-19, especially if states begin to lift restrictions.
White House Press Secretary Kayleigh
McEnany says more isn’t necessary, better when it comes to testing. She
says it must be strategic. “If we tested every single American in this country
at this moment, we have to retest them an hour later and then an hour later
after that, because at any moment you could theoretically contract this virus,
so the notion is that everyone needs to be tested is just simply nonsensical.
The people who need to be tested are vulnerable population.”
2)
And the White House coronavirus taskforce won’t be phased down at the end of
the month after all. President Trump says the group’s focus will shift to rebooting
the economy and developing a vaccine. “I know we could wind it down sooner, but
I had no idea how popular the taskforce is.” He says members will change as the
crisis evolves.
3)
Pharmaceutical giants are working to get potentially lifesaving COVID-19
treatments to the nation’s hardest-hit areas like Maryland. “Gilead has donated 1,600 doses of Remdesivir to the state of Maryland.
This is the only drug proven in a clinical study to help with COVID-19.”
Governor Larry Hogan also allowing elective
medical procedures to resume tomorrow. Officials in Virginia are monitoring
COVID-19 outbreaks in two poultry plants. “The National Guard regularly provides
assistance in emergencies and this is the greatest emergency that we have seen
in many years.” Governor Ralph Northam says the guard helping with
testing in the plants in the surrounding community.
4)
Uber is slamming the breaks on 3700
full-time jobs with fewer of us getting at needing rides. That’s about 14% of
its workforce. Rival Lyft announced
that it’s laying off a lot of workers, too.
…………………………………………..
I’m
Liz Claman and this is the Fox Business Report.
Stocks
ending mixed as investors wait plants for the reopening of the economy against
the latest batch of earnings reports, with the Dow falling 218 points, the NASDAQ
up 45, S&P 500 down 20. // General Motors outlining plans for May 18th
restart most of its North American plants shut down by the coronavirus
pandemic. This has reported the stronger-than-expected quarterly profit with sales
of its full-size pickups rising about 27% year over year. Shares of GM closing
up 3%. // And after the closing bell, speaker maker Sonos reporting earnings with its losses more than doubling in the
March quarter as the coronavirus outbreak forced the closure of its retail
stores muting sales of its speakers. // And ride-sharing company Lyft bringing nearly
$1 billion sales in mid pandemic, although the company posted $400 million loss
for the first quarter but it’s actually an improvement from last year. That’s
your Fox Business Report. I’m Hilarie Barsky, invested in you.
