WHAT YOU NEED TO KNOW
U.S. stock futures edged higher, following gains in Asia and Europe. Investors are looking ahead to corporate earnings reports for indication on how businesses are coping through the pandemic. S&P 500 companies are expected to report a 44% drop in profits on average for the second quarter. One study has estimated that companies around the world will take on as much as $1 trillion of new debt in 2020.
Oil prices dropped after a weekend that saw large spikes in coronavirus infections while traders await an OPEC technical meeting “expected to recommend an easing of supply cuts.” The surge in coronavirus cases looms over oil’s recovery, despite some demand revival and supply cuts, according to the International Energy Agency. Some oil and gas companies heading toward bankruptcy have raised fears that wells will be left “leaking planet-warming pollutants,” leaving taxpayers with the cleanup costs.
An upturn in U.S. coronavirus deaths has begun, driven by fatalities in the South and West, data shows. The number of deaths per day had previously been falling, even as states like Florida and Texas saw an explosion in cases. Florida reported 15,299 confirmed coronavirus cases on Sunday, marking a new single-day record for any state. This spike comes as more than a dozen states have reported new highs for daily case numbers. As Florida’s numbers continue to rise, Disney World reopened over the weekend for the first time since its closure in mid-March.
President Donald Trump donned a face mask during a visit to a military hospital over the weekend – the first time the president has been seen wearing a facial covering in public. President Trump has previously declined to wear a mask at news conferences, rallies, and other public events. House Speaker Nancy Pelosi called the president’s act of wearing a mask a move that “crossed the bridge” and an “admission” that masks help stop the spread of COVID-19. The president’s previous reluctance to wear a facial covering had grown into a point of controversy.
Latinx people are four times more likely to be hospitalized than white people due to coronavirus and experts say the Hispanic community has been disproportionately hurt by the pandemic due to jobs as essential workers and multigenerational living conditions. The pandemic is also escalating in states where the majority of Hispanic individuals reside. In Los Angeles County, Latinx residents are now twice as likely as whites to contract coronavirus. L.A.’s statistics echo those of other regions, including Washington D.C. and Humboldt County, CA. One issue stems from language barriers, which can limit information, like what precautions can be taken as well as what a person can do if they become ill.
As the start of a new school year approaches, President Trump has been pressing state and local officials to reopen schools in the fall. Experts are torn between the significant social benefits and the risks associated with the pandemic that could impact students, as well as teachers and parents, that in total adds up to tens of millions of people. Fully reopening schools conflicts with current CDC guidelines, which warn that children meeting in groups could greatly increase the spread of the virus. Education Secretary Betsy DeVos defended her call to fully reopen schools in the fall, in line with the effort championed by President Trump, despite stark criticism from Democrats. DeVos maintained her position, saying that “we know children get the virus at a far lower rate than any other part of the population,” and that there is no data suggesting children returning to school would be dangerous.
Some sex educators have offered advice for coronavirus socializing. Similar to typical bedroom etiquette people must build trust, communicate their needs, and seek consent. This advice can be applied to meetups, cookouts, and other social interactions.
NAVIGATING THE PANDEMIC
Solving COVID’S Mental Health Crisis – HBS Working Knowledge – 7/12/2020“Grief and trauma, job loss, and economic uncertainty, self-quarantine in sometimes unsafe home environments, anxiety about the virus and re-openings, and disconnection from treatment all are triggers and will contribute to substantial increases in substance use disorder (SUD) cases, overdoses and deaths.”
Blank-Check Boom Gets Boost From Coronavirus – Wall Street Journal – 7/13/2020Buzzy startups such as electric-truck maker Nikola Corp. and sports-betting operator DraftKings Inc. used blank-check deals to go public this year. Meanwhile, a growing number of prominent executives have been launching new blank-check companies in hopes of finding a hot acquisition target.
Immunity to covid-19 could disappear in months, a new study suggests – MIT Technology Review – 7/13/2020 Although 60% of participants produced a “potent” antibody response while they had covid-19, only 17% had the same level of potency at the end of the three-month testing period. Antibody levels were higher and longer-lasting in people who had had more severe cases of covid-19.
Smithsonian offers summer of virtual activities during coronavirus – WTOP – 7/13/2020“She leads you through a walk through a virtual area, she paints an imaginary picture of a forest, she talks about the trees and what you might hear or smell,” Adelman said. “You plug in your headphones, you get comfortable, you can be outside, you can even be inside. She intersperses a little bit of nature lore, some poetry, some meditation.”
In the wake of the pandemic and the protests, purpose is suddenly a superpower – Fast Company – 7/13/2020In normal times, it’s fairly easy for companies to put on a good show when it comes to socially conscious behaviors. There’s long been confusion among consumers when it comes to determining which companies have a true purpose and which ones are just really great at promoting it.
WHAT INFLUENCERS ARE SAYING
WTVC NewsChannel 9 @newschannelnine 13 Jul Over the weekend, President Trump wore a mask publicly for the first time. (Before this, he did wear a mask at a recent event, but at that time he had asked that no pictures of him wearing the mask be taken).
CTV News @CTVNews 13 Jul Disney won’t give you a picture from your ride if you don’t wear a mask
Eun Yang @eunyangnbc 13 Jul Florida is reporting the largest single-day increase in positive COVID-19 cases since the pandemic began—15,000+. It does not have a mask mandate and businesses remain open.
Audrea @audreahuff 13 Jul .@USArmy #veteran, 37, dies from #coronavirus on #FourthOfJuly after claiming the #pandemic was “hype” and saying on Facebook he won’t wear a mask. Friends are now imploring people to show compassion:
Elin Martinez @Martinez_Elin 13 Jul Is it really that hard? Nope.
|Turbine Labs has tracked 29,331 media articles and blogs over the last 24 hours and 1,500,837 social media posts over the last 24 hours.|