Fed Official Issues Recovery Timeline

economic recovery

Good news is emerging for pet owners regarding coronavirus.

The news caught my eye because my co-author is a beagle mix lying about 5 feet away from me.

This new scientific report appeared in the Proceedings of the National Academy of Sciences.  

It confirmed that dogs and cats can be infected by the novel coronavirus. However, neither dogs nor cats are likely to get sick from it.

Cats, however, can shed the virus and can spread it to other cats.

Importantly to scientists, cats do develop a strong, protective immune response to the virus. This makes them worthwhile studying when it comes to human vaccines.

Infected dogs in the new study didn’t produce the virus in their upper respiratory tracts. And they didn’t shed virus at all. Other studies though have found dogs did shed virus.

This real world transmission study showed why pets are not a significant concern for human infection.

Researchers note that millions of people have been infected with the virus and a million have died. Yet, there are only a handful of reports of pets that have become infected naturally.  

Not having to worry about our dog and cat ‘children’ and coronavirus is at least one less worry.

The Big News

Overweight People Fare Poorly With Covid

Overweight people struggle to mount a robust immune response to the coronavirus. The worry is that these same people could respond poorly to a vaccine. One of fat’s most potent effects is slowing the body’s initial immune response to the virus. This allows the virus to spread unchecked. In other words, obesity resets human physiology in a bad way.

The Coronavirus Goes to Disneyland

The Walt Disney Co. plans to cut 28,000 theme park jobs in the U.S. That is about 25% of its domestic resort work force. Disney’s California theme park remains closed because of state restrictions. And while its Florida location reopened in mid-July, attendance has been poor.     

NFL Suffers First Team Outbreak of Covid

The coronavirus is trying to tackle NFL football. At least nine members of the Tennessee Titans organization, including three players, tested positive for the coronavirus. Experts said that this was not a surprise. The NFL both lacks a “bubble” system and is a full-contact sport. The Titans postponed practice until the extent of the outbreak is known. This could upend this weekend’s game versus the Pittsburgh Steelers.    

New York Elementary Schools Reopen

About 300,000 schoolchildren returned to school yesterday in New York City. The move was hailed as a way to help get parents back to work. However, just hours after reopening, Mayor Bill de Blasio warned that the city’s daily rate of positive Covid-19 tests had climbed above 3%. This was the highest daily rate since June. It could potentially lead to another shutdown.          

Covid Hasn’t Stopped M&A

A resurgence in mergers and acquisitions led to the busiest summer for blockbuster deals in three decades. The combined value of $5+ billion deals worldwide soared to $456 billion in third quarter. This is according to data gathered by Refinitiv. A major reason for the surge in M&A activity was executives reshaping their companies to cope with the fallout from the pandemic.        

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The Coronavirus Numbers

Here are the numbers from Wednesday at 8 a.m. ET from Johns Hopkins University:

  • 33,692,221 Infected Worldwide
  • 1,008,842 Deaths
  • 7,191,349 Infected in the U.S.
  • 206,005 Deaths in the U.S.

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What’s Next

I will ignore the first Presidential debate last night. CNN’s Jake Tepper described it best: “a hot mess inside a dumpster fire inside a train wreck.”

It did not alter the race, either. Political betting markets showed little change.

The debate also did not alter the course of the economy or economic recovery.

On Tuesday, New York Fed President John Williams spoke about the U.S. economy and economic recovery.

He said that the economy would be strong and close to full employment “in about three years’ time.”  

In other words, our economy would not be back to full strength for about three years.

That view of economic recovery makes sense. Our economy cannot be moving on all cylinders until the coronavirus is just a bad memory.

That economic recovery will take at least a year or two. Or perhaps more . . . .

Williams did add that “there’s clearly a lot of unknowns” about the next few years.

That still has me favoring the stocks that have been working during the pandemic, including many IPOs.

Go here to discover the Pre-IPO secret being used on Wall Street.  

Yours in Health & Wealth,

Tony Daltorio

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