Here’s what you need to know about the impact of Covid-19 on navigating the markets today.
• Forest fires continue to spread in northwestern Oregon, leading to an increase in the estimated number of evacuations in the state to about 500,000, the Associated Press reported. That’s more than 10% of the state’s population of 4.2 million.
• China National Biotec Group, a state-owned subsidiary
said it had injected hundreds of thousands of people with two experimental vaccines, although phase 3 trials of the vaccines have not yet been completed. Injections are allowed under an emergency measure approved by the Chinese government in July. Separately, Sinovac Biotech said it injected 3,000 of its own employees and families, including the company’s CEO, with its own experimental vaccine. (full story)
• Dr. Anthony Fauci warned Americans not to be content as new infections dwindle, calling the daily number of infections at nearly 38,000 “an extremely unacceptable baseline.” Fauci, director of the National Institute of Allergy and Infectious Diseases, made his remarks during a seminar at Harvard Medical School on Thursday.
• Warner Bros. (unit
) will postpone the release of “Wonder Woman 1984” until a later date this year from the initial release date of October 2nd.
•President Donald Trump told reporters on Thursday that the deadline for China’s ByteDance to sell its popular TikTok app for American business will not be extended. “I’m not extending the deadlines, no. It’s September 15. There will be no extension of the TikTok deadline, “Trump said. Reports show that the deadline for the sale seems less and less likely.
are still considered the main candidates for the application.
• Total confirmed Covid-19 infections rose to 6.4 million in the United States and 28.19 million worldwide, according to data summarized by Johns Hopkins University. The number of victims in the United States from the virus is the highest in the world – 191,791.
• The US consumer price index rose for the third consecutive month in Augustdriven by rising prices of used vehicles, according to the Bureau of Labor Statistics. (full CPI data release)
• The UK’s gross domestic product increased by 6.6% in July, following an increase of 8.7% in June and 2.4% in May, followed by a 20% drop in April, according to the Office for National Statistics. The British economy has now recovered from more than half of the decline caused by the Covid-19 pandemic.
American workers are under pressure to return to their offices, according to a CNBC report citing interviews with several employees of the drug manufacturer.
• Dozens of business leaders in New York signed a letter urging Mayor Bill de Blasio to address “issues of public safety, cleanliness and other qualities of life that contribute to deteriorating conditions in shopping districts and neighborhoods in the five neighborhoods.” (read the full text of the letter.)
• An NFL player is included among the 57 people facing federal fraud charges from an alleged scheme to file false applications for a payroll loan program. Joshua J., 31 Bellamy of St. Petersburg, Florida, who played for the New York Jets, has been arrested and charged with multiple crimes. (Here are the prepared notes of Acting Assistant Attorney General Brian Rabbit, describing the alleged fraud.)
• Rio Tinto says CEO Jean-Sebastien Jacques will resign by March 31, after a noise after the destruction of the mine of culturally significant caves in the Juukan gorge in the Australian region of Pilbara. Other executives will leave the company by the end of the year.
reported its first profitas the pandemic caused a surge in demand for its ergometers and related online services.
• US companies continue to borrow at an accelerated pace, with $ 46.7 billion in new bonds issued this month through Sept. 9, including $ 22.3 billion that day, according to BofA Global Research.