Daily Covid and Markets - Thursday July 30
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 July 2020
⏱️ 18 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
COVID Health Information
• The seven-day average of new tests is now 820,000, a new high (by far). Nationwide, the increase in cases over the summer is practically in line with testing increases. It is the select states where positive cases outpaced increases in testing.
• Add Johnson & Johnson’s Ad26.Cov2-S to the list of vaccine candidates showing very positive results. Their trials thus far were limited to monkeys, though a clinical trial has now begun in Europe and the United States. The full study has been peer-reviewed, and is available upon request. The source of excitement here is that the strong antibody response is coming from a single dose … They are targeting phase 3 trials for September
• A source of mine had been sending me daily updates throughout the last few months on one of New Jersey’s premier hospitals and their COVID exposures, particularly when they were seeing hundreds of patients per day, suffered extraordinary losses, and were having to re-purpose facilities to meet demand. At some point it waned, then they shut down the COVID wing, then the COVID patient load of standard inpatients and ICU steadily declined. Well, today, I got an update. For the first time, this hospital does not have a single COVID patient. Praise the Lord.
• Not a lot of change in the general messages of the chart quadrant today. Cases are declining; hospitalizations are declining in the troubled places and flattening elsewhere; a few smaller states are seeing some mild growth in cases off of very low levels. The questions in front of us deal with society’s ability to “live” with this virus, and to continue mitigation against severity and mortality.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.8 | Hello and welcome to today's COVID and markets podcast brought to you by the Dividend Cafe of the Bonson Group. |
| 0:20.5 | I'm going to just kind of get right into it, give you a little market rundown, |
| 0:23.9 | and then walk through our various categories today. |
| 0:28.0 | It was an interesting day in the market because we closed down 225 in the Dow, |
| 0:34.2 | but we were down 550 points a little while after the opening. The futures had |
| 0:40.6 | pretty much been down about 200 points all morning. Again, I was up well before 4 o'clock in the |
| 0:47.7 | morning Eastern time, and all the way up until close to 9.30 Eastern Time when the market was set to open, the futures |
| 0:56.4 | have been down 200 points. And yet, then President Trump tweeted something to the effect of |
| 1:04.1 | wondering whether or not we should delay the election. And the futures dropped another 100 points |
| 1:10.5 | pretty quickly. And then after the opening dropped another 100 points pretty quickly, |
| 1:11.3 | and then after the opening dropped another couple hundred. |
| 1:14.6 | And so, you know, I talk so much about the dangers of trying to identify |
| 1:19.1 | a specific catalyst to market behavior, |
| 1:21.9 | and sometimes it's a little easier than others. |
| 1:24.0 | In this case, it's pretty easy. |
| 1:26.0 | There just simply wasn't anything else going on, |
| 1:28.5 | and it was such a kind of bizarre tweet that obviously that seemed to have been somewhat disruptive, |
| 1:34.5 | but then the market sort of settled throughout the day. And in fact, the NASDAQ was up on the day. |
| 1:40.1 | The S&P was down much less than the Dow. Some of the big tech companies, I think, were quite resilient in after some of the grilling that they took from both sides of the aisle last night. |
| 1:51.7 | And in fact, as I'm sitting here recording now, after hours on Thursday, after market hours, you're looking at a pretty big rally in a lot of the different thing |
| 2:02.1 | and big tech names from their Q2 earnings results that mostly came out after hours today. |
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