WHAT YOU NEED TO KNOW
U.S. futures traded higher on Tuesday following the strongest August for the S&P 500 in decades, spurring investors even as COVID-19 cases are slowly rising again in 26 states. Many Midwestern states recorded a 5-10% increase in cases over the previous week, indicating those states may be getting “stuck” in their battles against the virus. Across the nation, daily new cases continue to hover at around 40,000.
Video conferencing app Zoom’s shares surged following second quarter earnings that shattered analysts’ estimates, reporting a 355% increase in annualized revenue. Subscriptions from new customers accounted for 81% of the company’s revenue growth as companies across the nation transitioned to indefinitely working from home. The change to home office work is driving a flurry of new “winners” in the pandemic, changing consumer behavior to the point that experts in every industry say they aren’t sure what to expect. Americans are spending more on home staples such as coffee, ketchup and cheese, but have also geared more frivolous spending toward items such as Nike Air Max sneakers and Lululemon yoga pants.
Recovery in the oil and energy industries is deflating after a short resurgence from April to June, maintaining U.S. crude-oil prices in the low $40s per barrel. Economists say lower fuel demand, coupled with consumer spending and hiring indicators that point to a slowdown in activity, could mean a more arduous phase of economic recovery.
American and Delta airlines have joined United in eliminating their change fees in an effort to buoy a sluggish rebound in passenger demand. The airlines hope to win more travelers wary of booking due to uncertainty about travel restrictions and public health conditions in their destinations.
U.S. courts are seeing a rise in eviction proceedings for retail tenants, especially among those in the apparel, fitness and theater sectors. With the expiration of eviction moratoriums and reopening of businesses, many landlords say they have reached a stalemate in lease negotiations, forcing litigation. While office real estate across the country remains empty, economists say they don’t expect those tenants to break their leases until up to nine months from now. Office tenants tend to hold longer leases of about 10 years or more, meaning they won’t take action unless the economy points toward a prolonged recession.
Coronavirus cases are ticking up in Spain, prompting some public health experts to fear that the surge could indicate more widespread outbreaks on the horizon. France and other European cases are recording a slight rise in their COVID-19 numbers as schools across the continent reopen their doors to students. Russian authorities have lifted most lockdowns across the country, but recorded cases there surpassed 1 million.
Venice is preparing to reclaim at least one aspect of the city’s renowned cultural influence on Wednesday with the opening of the Venice Film Festival. Even so, the world’s oldest film festival will implement strict public health measures, requiring masks indoors and out and barring the public from the red carpet.
NAVIGATING THE PANDEMIC
Remote Learning’s Distractions Put Extra Pressure On Students With ADHD – NPR – 9/1/2020
In the COVID-19 era, these are common experiences for parents of children with ADHD, says Haftan Eckholdt, a developmental psychologist and chief science officer at Understood, a nonprofit that serves people who learn and think differently. […] And there’s no teacher in the room to counteract those distractions.
Telehealth visits are dropping, forcing providers to recalibrate – STAT – 9/1/2020
Telemedicine visits accounted for just 21% of total encounters by the middle of July, down from 69% at the early peak of the public health crisis in April, according to national data from Epic, the electronic health record company. While telemedicine use largely remains well above pre-pandemic levels — and many still say telemedicine’s popularity is here to stay — the recent downturn in visits has created an undeniable whiplash effect.
Working from ‘anywhere’ is possible—but not sustainable – Fast Company – 9/1/2020
Even as real estate investment focuses on smaller cities—from Boise, Idaho (225,000), to Nashville, Tennessee (660,000)—our research indicates that startups and other innovative companies should locate in the biggest city they can afford. There are tradeoffs in larger cities, such as higher rent and labor costs. However, that cost can be offset with greater innovation.
College has gone remote. Will it stay that way? – Protocol – 9/1/2020
Things have unsurprisingly shifted as a result of the pandemic, with many schools rushing to companies like 2U to help set up something — anything! — to get students learning remotely with the new school year upon them. But the problem many are facing isn’t just technical: You can put a Zoom window in front of anyone, but if they’re actually going to learn anything, you’re going to have to think differently about how to engage the students, according to 2U’s CEO and co-founder, Chip Paucek.
We’re All Socially Awkward Now – The New York Times – 9/1/2020
Research on prisoners, hermits, soldiers, astronauts, polar explorers and others who have spent extended periods in isolation indicates social skills are like muscles that atrophy from lack of use. People separated from society — by circumstance or by choice — report feeling more socially anxious, impulsive, awkward and intolerant when they return to normal life. Psychologists and neuroscientists say something similar is happening to all of us now, thanks to the pandemic.
WHAT INFLUENCERS ARE SAYING
|New York Communities for Change @nychange 31 Aug According to US Census 58% of NYers have “moderate to no” confidence they will be able to pay rent next month. Eviction moratorium ends Oct. 1. @NYSenDems @NYSA_Majority must support @zellnor4ny & @KarinesReyesNYC eviction moratorium bill. #EvictionFreeNY|
ABC7 News @abc7newsbayarea 31 Aug The #California Senate passed a bill Monday that would let people stay in their homes who haven’t paid their rent because of the coronavirus, sending it to the state Assembly as lawmakers rush to act before statewide protections expire on Wednesday.
Jobs With Justice @jwjnational 31 Aug Tomorrow, the rent is due. Tomorrow, millions of out-of-work tenants won’t be able to pay — eviction won’t solve this. Only rent relief will.#StopEvictingUs #CancelRent
Congressman Tim Ryan @RepTimRyan 31 Aug Millions of Americans are falling behind. The Administration should come back to the bargaining table so we can get people the help they deserve.
Emilie R. Saunders @EmilieRSaunders 31 Aug Montana Housing can now pay up to 75% of monthly rent/mortgage for qualified Montanans. No asset limit.
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