AFN News April 30

AFN NEWS

Thursday, April 30, 2020　

1) From ABC News, I’m Daria Albinger. The U.S. death toll from COVID-19 has now passed 60,000. That’s according to the ongoing tally by Johns Hopkins University. During the White House roundtable today with industry executives, President Trump was asked how long it might be until vaccine is readily available. “A lot of progress is being made on the vaccine, but you never know, right? You never know. You know with SARS they did not come up with a vaccine, and sometimes they don’t, and sometimes they do. I will say this. I don’t think there was the same effort.” Mr. Trump says the federal government will not extend its social distancing guidelines once they expire tomorrow.  

2) While the world waits for a vaccine, medical experts say a drug shows promise in treating COVID-19. Dr. Anthony Fauci on Wednesday touted the result of the trial, examining an experimental drug treatment for the coronavirus. A randomized, international trial of the drug Remdesivir has resulted in what Fauci called “quite good news,” shortening the period patients experienced symptoms, and potentially slightly reducing the mortality rate. “What it has proven is that a drug can block this virus.” Karen Travers, ABC News, Washington.

3) The news sent stock soaring, the Dow closing up more than 500 points. The Fed is holding on interest rates for now. “Federal Reserve’s response is guided by our mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote the stability of the financial system. We’re also committed to using our full range of tools to support the economy in this challenging time.” Chair Jerome Powell.

4) It’s been sad that you can’t make everyone happy all of the time, and that is __ New York Governor Andrew Cuomo. “We have people last week protesting ‘cause they want to go back to work. This week we have people protesting ‘cause they don’t wanna go back to work. Yeah, welcome to America.” Cuomo says his sole focus is on continuing to flatten the curve.

5) Major League baseball is cancelling this July Hall of Fame induction. This year’s class will be inducted next year. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher following an encouraging report on a possible treatment for COVID-19 from Gilead Sciences, with the Dow rising 532 points, the NASDAQ up 307, S&P 500 up 76. The Federal Reserve announcing it’ll be holding interest rates unchanged in the range of nearly zero to a quarter of a percent and said that U.S. economy has worsened due to the pandemic and vowed to take aggressive action to support an eventual recovery. After the closing bell, Microsoft delivering earnings and revenue beating Wall Street expectations with the shares spiking in after-hours trading. The company reporting its third-quarter fiscal earnings said the coronavirus had minimal net impact on Microsoft revenue which reached around $35 billion. However, some of Microsoft core offerings including Azure cloud-computing business and Teams collaboration software are expected to fare well as Americans are working from home and their companies need computing power to support them. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News April 23

AFN NEWS

Thursday, April 23, 2020　

1) From ABC News, I’m Daria Albinger. It is not cheap to fight a novel virus. Congress is learning that firsthand as the House prepared to vote on the latest batch of funding to help those impacted by COVID-19. “When President Trump signs this latest plan of government funding $484 billion for small businesses and hospitals, it will bring the total price tag to fight coronavirus to roughly $2.7 trillion. Lawmakers are already talking about next round, and states are asking Congress for hundreds of billions of dollars to put that 2.7 trillion into context. The U.S. has now put as much money to fight coronavirus in less than two months as the central government planned to spend in total over two years on all government programs and it’s more than half of all the money spent fighting World War II over four years.” Karen Travers, ABC News, Washington.”

2) With some states taking steps to reopen their economies, the governor of the nation’s most populist one said his decision will be driven only by data. “Governor Gavin Newsom says with the number of dead climbing here in California, he cannot yet give a date for lifting stay-at-home order. ‘There is no light switch, and there is no date.’ But he is modifying one aspect of his stay-at-home order allowing needed scheduled surgeries to go forward like heart valve replacements and removing tumors. Alex Stone, ABC News, Los Angeles.”  

3) Two California residents who died in February were confirmed to be the earliest known deaths from the outbreak and weeks before the CDC reported the first death in Washington State. Now Newsom is directing officials to look at deaths, stating as far back as December.

4) New York Governor Andrew Cuomo says the state needs a tracing army to effectively track who’s been in close contact with people who’ve tested positive. “Mayor Michael Bloomberg has volunteered to help us develop and implement the tracing program.” That program is going to be done in partnership with Johns Hopkins.

5) Stocks closed higher today. You’re listening to ABC News.

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I’m Liz Claman and this is the Fox Business Report.

Stocks finishing higher as oil markets stabilized and investors eyed another stimulus package from Congress. The Dow rising $457 points, the NASDAQ up 232, S&P 500 up 63. // And auto sales beginning to recover after a massive slump in March due to the coronavirus pandemic, according to research firm J.D. Power. Retail sales stabilizing during the first couple of weeks of April. During March sales in some areas with high infection rates declined by as much as 80%. Throughout the crisis, light-duty pickup trucks proved to be the most resilient with sales down only 16%. // And Kimberly-Clark says sales of its tissue and toilet paper products like Kleenex and Cottonelle rose 13% in the first quarter. Consumers stocking up on its brands during the coronavirus pandemic, which helped the company beat Wall Street estimates for profit and sales. That’s your Fox Business Report. I’m Hilarie Barsky invested in you.

AFN News April 2

ABC NEWS  APRIL 2, 2020

                          

1)           From ABC News, I am Daria Albinger.  Health experts have been saying that the coronavirus pandemic will get worse over the next few weeks.  Today we are learning that the US death toll’s more than quadrupled over the week up by nearly a thousand in just 24 hours.  One of the latest victims, a six-week-old in Connecticut, not far from what’s been called the epicenter of the US epicenter of the virus. 

2)           “Nearly 400 people have died of COVID-19 in New York since Tuesday, and Governor Andrew Cuomo said the latest models now showing apex here at the end of April; “We’re still on the way up to the mountain.”  At the top of the curve, if people comply with social distancing, Cuomo said the state would still need 75,000 hospital beds and 25,000 ventilators to help with the compliant.  Cuomo ordered playgrounds here in New York City to close, but parks remain open as long as there’s distancing.  Aeron Kateresky, ABC News, New York.”

3)                 California is saying a jump in demand for ICU patients.  Governor Gavin Newsom says it’s up 16% a day to 774; “Many of you may think that’s sounds relatively modest to what’s happening in other parts of this country, and that may be true, but it’s incredibly important to impress upon you that that number represents roughly quadrupling compared to where we were just six days ago.”  Newsom also closing schools in the state for the rest of the academic year.

4)                   Louisiana reporting its largest increase in deaths in the last 24 hours.  Governor John Bel Edwards said current projections show people are going to come to hospitals, need ventilators, be unable to get them and die; “There is no reason to think that Louisiana won’t look like Italy.”

   Forty-five states now have stay-at-home-orders.  The latest issued them, Florida, Georgia and Mississippi all taking effect on Friday. 

5)                   The Navy now says 93 crew members on the USS Theodore Roosevelt have tested positive for COVID-19.  A thousand sailors have been taken off the ship and more are expected to follow.  You’re listening to ABC News.

6-1)    I’m Connell McShane.  This is the Fox Business report. 

      “Stocks kicking off the month in quarter sharply lower.  Investors are increasingly concerned that the coronavirus will keep the economy shutdown longer than expected, with the Dow falling 974 points, Nasdaq down 340, S&P 500 down 114. 

6-2)    And airlines falling today after showing a passenger traffic was down 86% in 2 weeks, and cruise operators also sliding amid renewed fears over the health of the industry.

6-3)   And Home Depot is taking further measures to help stand the spread of the coronavirus, and is limiting the number of customers allowed into its stores and eliminating major spring promotions to avoid driving high levels of traffic to its locations.  The company is also expanding benefits for its employees including weekly bonuses for fulltime, hourly and part-time staffers at its stores and distribution centers.

     That’s your Fox Business report.  I’m Hilarie Barsky, invested in you.”

AFN News April 16

AFN NEWS

Thursday, April 16, 2020　

1) From ABC News, I’m Daria Albinger. A Washington, D.C. suburb in Maryland may be the next U.S. epicenter in the battle against COVID-19. ABC’s Andy Field tells us why health officials are so focused on Prince George’s County. “Maryland’s rising number of coronavirus illness and death are intertwined with those nearby D.C. and northern Virginia. ‘Over 18,700 cases are in Maryland, D.C. and Virginia area and more than 600 people have died.’ That’s why Maryland Governor Larry Hogan’s ordering more ventilators, protective gear and he’s racing to hire up to 1,000 people to trace contact to anyone testing positive. Andy Field, ABC News, Bethesda, Maryland.”

2) California Governor Gavin Newsom says the state virus assistance will include $ 500 for every undocumented adult immigrant. There are estimated 2 million immigrants living illegally in the state.

3) Michigan Governor Gretchen Whitmer says the enemy is the virus, not one another. That was a response to Operation Gridlock, a protest of the state’s Stay-at-Home order. “So the sad irony here is that the protest was they don’t like being in this stay-home order and they may have just created a need to lengthen it.” Groups including the state Conservative Coalition jammed the streets around the capitol. Many of them are in their cars and some walking along the street carrying rifles. One city is seeing a spike in domestic violence in the midst of the pandemic. “Kansas City Stay-at-Home order went into effect March 24th through Tuesday of this week. Police Chief Rick Smith says 911 calls for domestic violence jumped 22% compared to the same time last year. Since the end of January, domestic violence cases are up 14%.” ABC’s Ryan Burrow.

4) Two Republican sources say the paycheck protection program could run out of money as early as tonight without a deal in Congress. It's set up federally backed forgivable loans to help small businesses affected by COVID-19. You’re listening to ABC News.

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I’m Connell McShane. This is the Fox Business Report.

Stocks closing sharply higher as investors looking ahead to the eventual reopening of the economy. Among the gainers, tech companies which helped lift the NASDAQ out of bear market territory. The Dow closing up 559 points, the NASDAQ up 323, S&P 500 up 85. // And Amazon gaining over 5% closed at all-time high of over $2,283 a share. At that price, Amazon is worth over $1.1 trillion. // And shares of Zoom Video Communications zooming higher and continuing their rebound after Cantor Fitzgerald analyst upgraded the company. Zoom stocks closing over 4%, making for a roughly 25% rally over the past four trading days following a rough stretch earlier this month as criticism over the company’s privacy and security policies pressured the shares. That’s your Fox Business Report. I’m Hilarie Barsky, invested in you.

AFN News April 9

ABC NEWS  APRIL 9, 2020

                          

1)           From ABC News, I am Daria Albinger.  More signs that this is the worst week so far for the COVID-19 pandemic.  The latest numbers from Johns Hopkins show there are almost 420,000 confirmed cases of the virus, the death toll well over 14,000. 

   New York and New Jersey reporting record numbers of deaths again in the last 24 hours, and California Governor Gavin Newsom says the numbers are also increasing in his state; “Sadly we had one of the highest death rates in the state so far.  Now it’s 68 individuals that passed away over the last 24 hours.  We now have 442 individuals that have lost their lives.” 

But there are also signs of hope.  New York Governor Andrew Cuomo says the curve is flattening; “If the hospitalization rate keeps decreasing the way it is now, then the system should stabilize.” 

New Jersey Governor Phil Murphy says it’s time to double down on social distancing and other guidelines to stop the spread of the virus; “Don’t let the warm weather or the holidays fool us; we are in the fight of our lives and we remain in the fight of our lives.”

2)                The markets rallied on those signs of hope.  The Dow closing up over 700 points.

3)          ABC News has learned that Intelligence Community tried to warn President Trump about the pandemic as far back as last November in a report from the National Center for Medical Intelligence.  ABC News contributor John Cohen, a former Undersecretary of Homeland Security; “It’s hard to believe that there was a total lack of awareness of this total, that there was complete surprise when these very clear warning signs came to the attention of the Intelligence Community and were passed on to the White House.”  No comment from the government.

4)          Joe Biden is now on the presumptive nominee for the Democratic presidential nomination.  Bernie Sanders suspended his campaign today.  You are listening to ABC News.

5-1)    I’m Connell McShane.  This is the Fox Business report. 

       “On Wall Street, stocks rallying on various headlines, signs that spread of the coronavirus could be stabilizing in the hard-hit locations, Senator Bernie Sanders dropping out of the presidential race, and also on reports that Russia has retreated to oil production cuts. 

5-2)    Among the gainers; real estates, energy and financials.  And stocks pressured by the coronavirus outbreak, also leading the way higher with cruise line operators and airline surging.  The Dow up 780 points, the Nasdaq up 204, the S&P 500 officially exiting out of bear-market territory and closing up 91 points.

5-3)    And automaker General Motors is making 30,000 ventilators, the national stockpile in a $489 million contract with the Department of Health and Human Services.  According to the deal struck under the Defense Production Act, GM is expected to deliver over 6100 ventilators by June 1^st, and the remainder by the end of August.

     That’s your Fox Business report.  I’m Hilarie Barsky, invested in you.”