Trump Hates Fauci’s Warning on Vaccine Testing

Dr. Anthony Fauci is issuing a warning on Covid-19 vaccine testing.

He says that it would be a mistake to begin vaccine testing too early.

“To me, it’s absolutely paramount that you definitively show that a vaccine is safe and effective,” explained Fauci.

Fauci is concerned that there is a push for aggressive vaccine testing – before knowing whether the vaccines are safe. Doing do could undermine the ability of pharmaceutical companies to enroll people in future clinical trials for other viable vaccine candidates.

President Trump is pushing for a fast solution to the coronavirus. He wants the FDA to quickly approve emergency use of a Covid-19 vaccine. And he’s claimed that there will be a vaccine before the end of the year.

Speaker of the House Nancy Pelosi has criticized Trump and the FDA, saying, “The FDA has a responsibility to approve drugs, judging on their safety and their efficacy, not by a declaration from the White House about speed and politicizing the FDA.”

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The Big News . . .

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Cruise Lines Resume (Limited Service)

Cruises in Europe are restarting. One recent ship left from Genoa, Italy, operating at 60% capacity. Here in the U.S., the CDC has a “no sail order” in place through Sept. 2020.

North Carolina Cancels Athletics

North Carolina State will cancel all athletic related activities due to a series of outbreaks. This comes as the university starts the new school year. The cancellation extends to all athletic programs – including football.

Research Shows People Can Get Infected Twice

Researchers in Europe say that two European patients have been infected twice. The patients are from Belgium and the Netherlands. The patients were infected with a new strain of the virus.

The End of Office Space

Commercial real estate is under immense pressure. And the near-term pain may be long-lasting. A recent survey from KPMG shows that 68% of large company CEOs plan to downsize their office space.

The Coronavirus Numbers

Here are the numbers from Tuesday at 10:55 a.m. ET:

  • 23,876,724 Infected worldwide
  • 718,479 Deaths
  • 5,920,913 Infected in the U.S.
  • 181,408 Deaths in the U.S.

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What’s Next

Stocks were flat on Tuesday morning – with the S&P 500 and Nasdaq Composite unchanged.

The big news today is that officials from the U.S. and China remain committed to a trade deal. However, there are concerns that Washington’s recent attacks on TikTok and Huawei could undermine the larger trade deal.

In other news, the Dow Jones Industrials will be adding new stocks. SalesForce, Amgen and Honeywell will be added to the Dow.

Meanwhile, Exxon, Pfizer and Raytheon will be removed from the Dow.

The move is designed to provide increased weighting to the technology sector. Apple plans to split its stock price by 4-to-1. And that move will lower Apple’s weighting in the overall index.

Technology stocks have been among the best-performing stocks in 2020. That’s helping the Nasdaq surge to new levels. And it’s encouraging new tech and biotech stocks to go public.

Meanwhile, new IPOs in the last 90 days are up 53.3% on average.

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Ian Wyatt

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