WHAT YOU NEED TO KNOW
U.S. stock futures recovered from earlier losses amid strong U.S. payrolls data and the release of a study of a coronavirus vaccine candidate that showed the drug created neutralizing antibodies. Wall Street experienced their biggest quarter-to-quarter swing in more than 80 years. A rebound in China’s manufacturing activity offered some optimism surrounding the slump in global manufacturing, though demand remains sluggish. The V-shaped economic recovery is looking less likely amid coronavirus’s resurgence, which could result in a new round of job losses.
The nation’s top economic policymakers, Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell pledged to consider additional relief to prevent lasting damage to the labor market as states struggle to suppress the pandemic. The Senate passed legislation on Tuesday evening that would keep the government’s small business rescue program alive as it was hours away from closing with $130 billion left unclaimed.
Coronavirus cases more than doubled in 14 U.S. states in the month of June as California, Florida and Texas emerge as hotspots for the virus. Arizona recorded the biggest jump in cases at 294%. Americans’ concerns about coronavirus have risen to the highest level in more than a month according to one poll as the nation’s death toll reaches more than 127,000 people. President Donald Trump’s approval rating has taken a downturn as fears increase, with nearly 6 in 10 voters giving the president negative marks according to a new poll.
Backlogs and delays plague testing efforts in the U.S. amid surging demand. The American testing supply chain is “stretched to the limit,” testing about 550,000 people a day, but the outbreak in the South and West may overwhelm it. One analysis shows 17 states and Washington D.C. are currently meeting minimum testing targets and only three states are meeting a higher threshold of doing enough tests to prevent almost any new cases.
Global travel is seeing tentative revival as Spain and Portugal reopen their border to all travelers following a three-month closure. Greece is also opening to all tourists as the European Union reopens its external borders, adhering to a “safe travel” list of nations. Most travelers from the U.S. will be barred from entering the European Union under this limitation.
The first confirmed case of COVID-19 was reported among migrants living in a tent encampment of asylum seekers at the U.S.-Mexico border near Texas. Asylum hearings have been suspended due to the pandemic, stranding some 2,000 asylum seekers living in tents along the border. A federal judge in Washington struck down a Trump administration policy late Tuesday that barred most Central Americans and other migrants from requesting asylum at the southern border, though any immediate effects the order will have are unclear. In Mexico, half of all coronavirus tests are positive – the highest in the world largely due to the decision to shun wide-scale testing.
A growing number of GOP lawmakers and conservative media figures are pivoting to call for people to wear masks to prevent the spread of coronavirus, with some urging President Trump to publicly wear one. Mask wearing was previously marked by a stark partisan divide. Governors in many red states have refused to mandate facial masks in public, though cases have skyrocketed in some red states like Arizona. The state’s governor recently told the public to “arm yourself with a mask.” Vice President Mike Pence donned a face mask to a public briefing Tuesday with a message to do the same in an attempt to prevent the spread of COVID-19, adding to the administration’s mixed messaging when it comes to masking. President Trump has mostly declined to wear one. Some cities, including Savannah, GA and Miami Beach, FL have imposed mandatory masks measures that include fines for not wearing one in public.
One man in California has begun delivering toys to children on their birthday who are isolated by the virus. Craig Fierro realized many kids are foregoing typical birthday parties, so he began gifting items from his store.
NAVIGATING THE PANDEMIC
Responding to the COVID-19 Crisis: Laying Resilient Foundations for the Future – CEO Today – 7/1/2020
CEOs need to direct resources to explore the impact COVID-19 had on critical areas of their business, namely, people, supply, demand, financing and operations across the rising peak and peak of the pandemic. In responding to the impacts in these areas what robustness was demonstrated by their business?
What you need to know about remdesivir, the coronavirus drug stockpiled by US – The Independent – 7/1/2020
Despite its ability to shorten the recovery times (by around four days) of some coronavirus patients, remdesivir has not been found to significantly improve an individual’s chances of surviving the disease. The drug is administered intravenously and is most effective when it is given to a patient early.
Return-to-Work Changes Pose Litigation Trap for Overtime Rules – Bloomberg Law – 7/1/2020
But now, with businesses buffeted by recession and adjusting operational patterns under return-to-work plans, employers must proactively assess workers’ new routines to consider if the exemptions still apply, or face heightened risk of winding up in court, employment attorneys say.
Fergus Walsh: What does Covid-19 do to the brain? – BBC News – 7/1/2020
Tests showed that he had astonishingly high levels of a marker for the amount of clotting in the blood known as D-dimer. […] “I’ve never seen that level of clotting before – something about his body’s response to the infection had caused his blood to become incredibly sticky,” says Dr Chandratheva.
Forget telehealth. The future of medicine could be drive-through doctors – Fast Company – 7/1/2020
The drive-through clinic is conceived to be a midway point between telehealth, where doctors might miss critical symptoms, and physical clinic visits. It’s designed to be easily deployed in hospital parking garages and would take up 60 feet of space—the amount of space between two columns in a hospital parking lot.
WHAT INFLUENCERS ARE SAYING
Ali Hoxie @ali_hoxie 1 Jul Here is what you need to know about kids wearing face masks when the school year kicks off this fall. @wxyzdetroit
Leslie Sanchez @LeslieSanchez 1 Jul Texas says more than 10% of students became disengaged (didn’t complete assignments or respond to teacher outreach) during COVID slide: Higher percentages of low-income, Black and Hispanic students @TexasTribune #ThisCantContinue
FoxNashville @FOXNashville 1 Jul Several college students, who were aware they had tested positive for the coronavirus, attended parties
Rachel Bachman @Bachscore 1 Jul ‘If you could helicopter me into the suite I would feel comfortable. But the elevators are packed with people.’Coronavirus fears could limit attendance of some of college football’s highest-paying customers: older fans.
Stephen Howard @Stephen_Speaks 1 Jul The only key question in my mind is why college athletics are still holding on to the possibility of a season for kids that aren’t getting paid to play.The health risks are too dire.Key questions as Minor League Baseball officially cancels 2020 season
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