Showing posts with label STOCK MARKET. Show all posts
Showing posts with label STOCK MARKET. Show all posts

May 2, 2021

Biden Wants To Go Tough On Wall Street. The Response? The Best Rally Since FDR

 NPR

"The stock market is on fire," says Greg Valliere, chief U.S. policy strategist at AGF Investments. "It has astonished veteran observers,"

Michael M. Santiago/Getty Images

President Biden wants to raise taxes on corporations and wealthy investors. His top market regulator has promised a tougher approach. And leading Democrats who control Congress are proud adversaries of moguls and money managers.

So, how has the stock market responded?

With a rally that has sent the S&P 500 to an 11% surge in Biden's first 100 days, the best performance by the various versions of the index since Franklin Delano Roosevelt started his first term in 1933, according to an NPR analysis of S&P data.

"The stock market is on fire," says Greg Valliere, chief U.S. policy strategist at AGF Investments. "It has astonished veteran observers, and it may have a ways to go."

So what explains the rally?

For many experts, it boils down to the U.S. economy.

The Biden administration has overseen a rapid rollout of vaccines and passed a $1.9 trillion stimulus plan that poured more money into households and businesses even after Congress had already passed trillions of dollars in stimulus.

Those two developments have led Americans to open their wallets again and businesses to reopen, turbocharging the U.S. economy.

Data on Thursday showed the economy grew at an annual 6.4% rate in the first quarter, and companies such as Apple and Tesla have recently posted blowout earnings.

Meanwhile, the Federal Reserve has committed to keeping interest rates low for the foreseeable future, and the central bank continues to buy billions of dollars worth of bonds, providing a powerful signal to investors.

"These last hundred days have been about as good as we've ever seen," says Ryan Detrick, chief market strategist at LPL Financial. "There's the fiscal policy, the monetary policy, but the truth is, it comes down to the economy, and we have opened up, and that is a big reason why stocks have done so well."

All this has helped to offset some of the president's proposals that are less popular on Wall Street.

In his speech to a joint session of Congress on Wednesday, Biden unveiled a bold vision of big government that will require trillions of dollars in spending. He intends to pay for it by raising taxes on corporations and millionaires, including the rate wealthy investors pay on profits from the sale of assets such as stocks, as well as by closing loopholes.

"It's time for corporate America and the wealthiest 1% of Americans to pay their fair share," Biden said. "What I've proposed is fair. It's fiscally responsible."

Meanwhile, new Securities and Exchange Commission Chairman Gary Gensler is an experienced regulator who headed the Commodity Futures Trading Commission under President Barack Obama and is known for a tougher approach to Wall Street.

And key committees that oversee the financial world are now overseen by lawmakers such as Sen. Sherrod Brown, D-Ohio, and Rep. Maxine Waters, D-Calif., who are widely seen as less friendly to Wall Street, while other progressive lawmakers such as Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., are expected to have prominent voices.

But an economy that many experts see headed to its best annual growth since 1984 has a way of coloring things, according to experts. After all, investors recognize that a proposal — to change the tax code or raise taxes — still needs to pass a Congress where Democrats hold only a slim majority.

"Unless [Biden] did something insane, the table was set for this market," says Jonathan Golub, chief U.S. equity strategist and head of quantitative research at Credit Suisse.

"I don't see anything which changes this over the intermediate term," he adds.

But there are more serious risks for Wall Street.

From the beginning of the pandemic, investors and economists have said the virus will determine how quickly the economy recovers. And despite the increasing vaccination rates, there is still concern about variants.

There's also the prospect of rising inflation. Manufacturers are being hit hard by supply constraints, leading companies such as Procter & Gamble and Kimberly-Clark to raise prices.

Meanwhile, the Fed has continued to insist an expected uptick in inflation will be manageable, but concerns remain that the central bank may need to raise interest rates to counter the impact of rising prices.

And at the end, markets have always been cyclical. According to Golub at Credit Suisse, what ends up stopping the record-setting run in markets may be something as simple as time.

"You know, trees don't grow to the sky," he says. "Once we get past the second and third quarter of this year, things are going to progressively slow down back to normal."

April 30, 2020

The US death toll passes 60,000. The US has also more than 1m cases UPDATES




Known global death toll passes 225,000
According to researchers at Johns Hopkins University, at least 226,771 people have died around the world, while at least 3,187,919 have been infected. The figures are likely to underestimate the scale of the pandemic because of suspected official underreporting and differing statistical recording regimes.

The US coronavirus death toll has surpassed 60,000. The US has also confirmed more than 1m cases of coronavirus, representing about a third of all cases from around the world.

Trump said federal guidelines aimed at limiting the spread of the virus would be “fading out”. The guidelines are set to expire tomorrow, and Trump signaled he was looking ahead to reopening the country, applauding governors who have started to allow some businesses to reopen with restrictions.

“I am very much in favor of what they’re doing,” Trump said. “They’re getting it going.”

Lab technicians loading vials of remdesivir, an experimental antiviral drug to treat the coronavirus, at a Gilead Sciences facility last month in California.
US drug trial shows ‘clear cut’ effect, says  Fauci

 A trial in the US shows the antiviral drug remdesivir, when given to Covid-19 patients,  presents a “clear-cut” effect, according to the head of the US National Institute of Allergy and Infectious Diseases, Dr Anthony Fauci. There are now over 60,000 U.S. deaths from covid-19

He hails it as proof a drug can block the coronavirus shortly after the medicine’s maker, Gilead Sciences, revealed it had met its primary goals. Fauci says the “data shows that remdesivir has a clear-cut, significant, positive effect in diminishing the time to recovery”, adding that it proves “that a drug can block this virus”.

The drug accelerated the recovery time of infected patients by 31 percent, from 15 days in patients who got a placebo to 11 days in people treated with remdesivir, Fauci said. But it only reduced the death rate from 11 percent to 8 percent, which Fauci said lacked statistical significance.

The drug must be given intravenously over 5 to 10 days and the NIAID trial results only apply to hospitalized patients. Remdesivir is not intended for use in the majority of patients, estimated to be 80 percent or more, who are infected with coronavirus but do not require hospitalization.

Eric Topol, director of the Scripps Research Translational Institute in La Jolla, Calif., said that remdesivir “isn’t a breakthrough drug, but it is safe.” Speeding recoveries and reducing the length of hospital stays can ease the burden on the health system. Remdesivir likely will serve as a basis for drug cocktails and better antivirals, experts said.

“You have to get your foot in the door, and this is a good first step, for sure,” Rajesh T. Gandhi, an infectious disease doctor at Massachusetts General Hospital.   Amesh Adalja, a senior scholar at the Johns Hopkins University Center for Health Security said, “There’s clearly going to be people who don’t need it, who are going to get better on their own, and there’s going to be people who are too sick to get it,” he said.

Gilead also said that people who were given the drug within 10 days of first showing symptoms fared somewhat better than patients who were given the drug later.

A top World Health Organization official declined comment on Wednesday on reports that Gilead Science’s remdesivir could help treat Covid-19, the respiratory disease caused by the novel coronavirus, but said that further data was needed, Reuters reports.

“I wouldn’t like to make any specific comment on that, because I haven’t read those publications in detail,” Dr Mike Ryan, head of the WHO’s emergencies programme, told an online briefing in response to a question, adding it can sometimes take a number of publications to determine a drug’s efficacy.

“Clearly we have the randomised control trials that are underway both in the UK and US, the ‘Solidarity trials’ with WHO. Remdesivir is one of the drugs under observation in many of those trials. So I think a lot more data will come out,” he said.

Ryan added: “But we are hopeful this drug and others may prove to be helpful in treating Covid-19.”
A Dongfeng Honda factory in Wuhan, China. Chinese factories are up and running again, but consumers aren’t spending much yet.
The stock market rallied after the news about remdesivir.
With more than a million coronavirus cases reported in the United States and more than 26 million people out of work, the hunger for good news was so strong on Wednesday that reports that a possible treatment for the coronavirus showed early signs of promise helped rally the stock market.

President Trump and his advisers similarly embraced optimism as a theme in a week when the nation surpassed 60,000 deaths from the virus. As states begin to lift quarantines, the White House has continued to offer a revisionist history of the pandemic in which the actions of Mr. Trump and his team were not belated and inadequate, but bold and effective


The US economy shrank by 4.8% last quarter, according to new data from the commerce department.

The figure is the latest indication of the devastating impact the pandemic is having on the economy.

U.S. gross domestic product, the broadest measure of goods and services produced in the economy, fell at a 4.8 percent annual rate in the first quarter of the year, the Commerce Department said Wednesday. That is the first decline since 2014 and the worst quarterly contraction since 2008, when the country was in a deep recession.

Things will get much worse. Widespread layoffs and business closings did not happen until late March, or the very end of the last quarter, in most of the country. Economists expect figures from the current quarter, which will capture the effects of the shutdown more fully, to show that G.D.P. contracted at an annual rate of 30 percent or more.

“They’re going to be the worst in our lifetime,” Dan North, the chief economist for the credit insurance company Euler Hermes North America, said of the second-quarter figures. “They’re going to be the worst in the post-World War II era.”



A new poll indicates most Americans are not ready to reopen the country.

The PBS NewsHour/NPR/Marist poll showed large majorities of Americans are uncomfortable with reopening schools or restaurants unless coronavirus testing is significantly expanded. Americans are split in how they view President Donald Trump’s handling of the economy, the poll suggested, with 50 percent of U.S. adults saying they approved and 48 percent that they disapproved with relatively little change since March when businesses around the country began to shutter. When asked about how the president has handled the coronavirus pandemic, 55 percent of Americans said they do not think he is doing a good job, up slightly from 49 percent in March.

Boris Johnson and Carrie Symonds announce birth of baby boy
A statement released by the couple said they had a “healthy baby boy at a London hospital earlier this morning”. A spokeswoman for the prime minister and his partner said both mother and baby were “doing very well”.

Johnson returned to frontline work on Monday after suffering from coronavirus and spending time in intensive care.
Hundreds gathered on the streets of Williamsburg Tuesday for the funeral of a rabbi who reportedly died of Covid-19.
A crowded Brooklyn funeral creates a crisis for de Blasio.

New York City’s mayor, Bill de Blasio, personally oversaw the dispersal of a large, tightly packed Hasidic Jewish funeral on Wednesday, lashing out at the conduct of mourners, sparking angry counter-criticism from community leaders.

The local police precinct did not stand in their way, a testament to the Hasidic community’s influence in the Williamsburg neighborhood. But by 7:30 p.m., an estimated 2,500 ultra-Orthodox Jewish men had arrived to mourn Rabbi Chaim Mertz, packing together shoulder-to-shoulder on the street and on the steps of brownstones, violating social distancing guidelines and turning the funeral into one of most fraught events of the virus crisis for Mayor Bill de Blasio.

Police began to disperse the mourners, and the mayor lashed out on Twitter at “the Jewish community, and all communities,” saying he had instructed the Police Department “to proceed immediately to summons or even arrest those who gather in large groups.”

Mr. de Blasio spent much of Wednesday on the defensive over his handling of the funeral and his use of the phrase “Jewish community” in his public criticism of the mourners.

In a tweet, the mayor called the large processional “absolutely unacceptable”, and vowed to bring social gatherings such as that event to an end while movements are still restricted by coronavirus guidelines.

A follow-up tweet from the mayor drew criticism for singling out the Jewish community and generalizing about its members: On Wednesday morning De Blasio apologized at a press event for a heavy-handed response, saying: “If you saw anger and frustration, you’re right. I spoke out of real distress. People’s lives were in danger right before my eyes.”

On the same day as the funeral, crowds gathered to watch a city flyover by the US navy’s Blue Angels and the air force’s Thunderbirds planes in honor of healthcare workers.

“Only bigots have a problem when a few 100 Hasidim do what thousands of people in the same city have done the same day: not social distance,” the Orthodox Jewish Public Affairs Council tweeted.

The Bad News Won’t Stop, but Markets Keep Rising

Trillions in stimulus dollars have convinced Wall Street that the government has its back, and investors are seizing on even glimmers of good news about the pandemic.

by the end of the day, the S&P 500 stock index had risen 2.7 percent.

That’s been the pattern lately. The drumbeat of grim news — one million known coronavirus cases in the United States, businesses are collapsing, the unemployment rate could reach 16 percent — has done little to deter stocks’ upward march.

Since March 23, when the Federal Reserve announced plans to make unlimited purchases of financial assets to prop up Wall Street, the S&P 500 has soared by more than 31 percent. The unlikely rally created more than $5 trillion of stock market wealth, allowing investors to reclaim more than half of their losses from a steep sell-off earlier this year, in the early days of the pandemic.

Why are stocks climbing when news about the economy isn’t getting much better, and the severity of the public health crisis has barely abated? There are two main reasons: First, trillions of dollars of stimulus money from the Fed and Congress come with an implicit guarantee that the government will limit investors’ risk no matter how bad it gets. Second, the periodic glimmer of positive news fuels investors’ optimism that things can only get better.

Wednesday delivered on both fronts, after officials said that an antiviral drug made by Gilead Sciences showed promise in treating Covid-19, the disease caused by the coronavirus. Also, the Federal Reserve said it would hold interest rates near zero and continue to do everything it could to stabilize the economy.
Food companies have been drawing on stockpiles of meat in cold storage, but they have warned that supplies to supermarkets could soon dwindle if plants remain closed amid illnesses.

Meatpacking plants are now ‘critical infrastructure,’ 

President Trump’s declared on Tuesday that meatpacking plants were “critical infrastructure” that should be kept open during the pandemic sent a powerful signal that protecting the nation’s food supply was a federal priority.

But exactly how the executive order would keep plants running, even in the middle of outbreaks that have sickened thousands of workers and turned the facilities into hot spots, was unclear.

“This is more symbolism than substance,” said Steve Vladeck, a law professor at the University of Texas. “He’s opening the door for the executive branch to take some far more specific actions vis-à-vis the meat plants, but the order itself doesn’t do anything.”

While the order does not explicitly mandate that plants stay open, it could allow the Agriculture Department to potentially force meat companies to fulfill orders from retailers, effectively keeping them in some capacity.

Lobbyists for the meat industry said the executive order, which allowed for the Defense Production Act to be invoked and could shield companies from lawsuits, was significant because it created federal guidelines for the steps plants needed to take to prevent the virus from spreading. Though it did not explicitly mandate that plants stay open, it signaled that the decisions around whether to reopen should be driven by the federal government and not the local authorities.

“This order tells them they need to stay open, and they get cover,” Howard Roth, the president of the National Pork Producers Council, said on a conference call on Wednesday.

Still, the order does not address some critical questions, such as whether the plants should test all their workers for the virus before reopening. Some plants have reopened without widespread testing.
Nearly half of inmates at Terminal Island federal prison infected ...
Officials began testing every inmate at a federal prison in California; 4 in 10 have the virus

More than 40 percent of inmates at federal prison in Southern California have tested positive for the coronavirus, authorities say, a wave of infections revealed after officials moved to test everyone held there.

The Bureau of Prisons reported that 443 of the 1,055 inmates held at Terminal Island, a low-security federal prison in San Pedro, Calif., have tested positive. Two inmates at Terminal Island have died from the virus so far, the bureau reported.

A spokesman for the bureau said Wednesday that while this represented more than 4 in 10 inmates at the prison, only 10 percent of the people tested had symptoms such as coughing or a fever. The spokesman said the plan to test everyone will help the prison slow the spread of infection by identifying and isolating people who have the virus and no symptoms.
Second-week crash' is time of peril for some COVID-19 patients ...
‘Second-week crash’ is time of peril for some covid-19 patients
During the first week that she had covid-19, Morgan Blue felt weak, with a severe backache and a fever. The symptoms did not alarm doctors at her local emergency department, however. They sent her home after she showed up at the hospital.

But on Day 8, the 26-year-old customer service representative from Flint, Mich., abruptly felt as though she was choking. An ambulance took her to the hospital, where she spent eight days, four of them in intensive care, before she recovered and was able to go home.

There is little consensus among doctors and experts about why the second week of covid-19 seems to be so dangerous for some people. But critical care specialists, EMTs and others are aware of this frightening aspect. Learning on the fly as they confront the virus, clinicians interviewed by The Washington Post speculated about the influence of an individual’s genes, the virus’s effect on lung tissue, overactive immune responses, and blood clotting. 

Doctors say the overwhelming majority of covid-19 cases do not require hospitalization. According to the Centers for Disease Control and Prevention, U.S. covid-19 patients are currently hospitalized at a rate of 29.2 per 100,000 people. That represents about 10 percent of the 1 million known cases so far. Of those, only a small percentage require intensive care or ventilators, and only some will experience a rapid deterioration of their health.

But people with the coronavirus can crash before or after they are hospitalized. Doctors report seeing patients who wait too long to seek care, including those who do not feel the symptoms of plummeting oxygen levels, such as shortness of breath, until they are in crisis. No one is sure why. Many people’s lungs remain flexible for a while, allowing carbon dioxide out and forestalling the sensation that they aren’t getting enough oxygen.

“The people who actually crash, they’ve actually been sick a while,” said Merceditas Villanueva, an associate professor of medicine at the Yale School of Medicine. “They’ve underestimated how sick they are."

Another line of thought focuses on the virus’s possible effect on the cardiovascular system. Researchers have suggested that some crashes are caused by events such as heart attacks, strokes and clots related to blood complications.

Eytan Raz, a neurointerventional radiologist at NYU Langone Health, said one theory is that some of the clotting complications may be caused by an overreactive immune response that comes after the virus has settled in, multiplied and triggered a defensive army of antibodies. It also could explain why people with cardiovascular disease, diabetes and obesity, as well as smokers, are more likely to have severe illness.

Ventilators also may contribute to the crash, Buhr said, especially in overwhelmed hospitals where doctors cannot spend enough time fine-tuning the devices that force oxygen into the lungs. Too much pressure on strained lungs can produce more of the inflammatory response to the coronavirus, worsening the clogging of air sacs called alveoli.

“We don’t like to talk about that one as much, but treatment of critically ill people is very complicated,” Buhr said. “Ventilators don’t work like meds. Adjusting the ventilator requires a lot of hands-on effort. And, in particular when hospitals are under stress, it’s much more difficult to provide that level of care.”

Within the field, a debate has broken out about whether physicians are turning to ventilators too often and too early, driven by the traditional response to remarkably low blood oxygen levels in some patients who show none of the symptoms of oxygen deprivation. Some doctors have advocated a more conservative initial response that would spare more patients the sedation, intubation and side effects of mechanical ventilation.

Aware of the hazards of the second week of the disease, hospitals have employed multiple tactics. Some are putting patients on oxygen earlier and using blood thinners prophylactically to prevent clots. At UCLA, caregivers more aggressively monitor ventilator pressure and use proning — placing patients on their stomachs — as much as 16 hours a day, Buhr said. The technique has been shown to increase the amount of oxygen getting into the lungs of patients with acute respiratory distress syndrome, a hallmark of severe covid-19.
Fauci says second wave of coronavirus is 'inevitable' | TheHill

Fauci: Second wave of coronavirus is ‘inevitable’

A second wave of the novel coronavirus is “inevitable,” said Anthony S. Fauci, director of the National Institute of Allergy and Infectious Diseases.

The nation’s top epidemiologist said in a Tuesday interview with the Economic Club that the virus probably won’t go away because it’s highly transmissible and globally spread.

“It’s not going to disappear from the planet which means as we get into next season … in my mind, it’s inevitable that we will have a return of the virus or maybe it never even went away,” he said, noting that parts of the world like southern Africa are seeing an increase in cases. “When it does, how we handle it, will determine our fate.”

Fauci said identifying people who are infected, isolating them and tracing their contacts in an effective and efficient way will be instrumental in keeping the number of projected deaths down to about 70,000 or 80,000 as states move to reopen their economies. New cases will emerge in the process, he said.


“If by that time we have put into place all of the countermeasures that you need to address this, we should do reasonably well,” he said. “If we don’t do that successfully, we could be in for a bad fall and a bad winter. ”
Push to reopen economy runs up against workers and consumers ...
Push to reopen economy runs up against workers and consumers worried about risk

Plans for a swift reopening of malls, factories and other businesses accelerated Tuesday, but they quickly collided with the reality that persuading workers and consumers to overlook their coronavirus fears and resume their roles in powering the U.S. economy may prove difficult.

Businesses in Georgia — including massage parlors and barbershops — began welcoming customers Friday for the first time since Gov. Brian Kemp (R) issued a mandatory shelter-in-place order on April 2. And in Texas, Gov. Greg Abbott (R) is allowing certain businesses, including retailers, restaurants and movie theaters, to reopen at the end of the week, but at only 25 percent capacity.

After several weeks of a comprehensive economic pause, companies, workers and consumers are returning to a changed landscape. The steady growth and low unemployment that Americans enjoyed just two months ago have vanished. Hanging over plans to restart the nation’s economic engine are unprecedented health concerns, as individuals balance each shopping trip, airplane flight and restaurant meal against the risk of catching a sometimes-fatal illness.

March 10, 2020



Trading halted after Dow opens down 1800 points

Dow plunges more than 2,000 points

The Dow Jones industrial average cratered 7.8 percent, while the Standard & Poor’s 500 shed 7.6 percent and the tech-heavy Nasdaq composite index fell 7.3 percent.
The threat of a coronavirus-fueled oil-price war and ongoing panic about the spreading disease grew and triggered a rare forced halt to trading early in the session.

White House advisers to give Trump policy options, including paid sick leave

Many Democrats are insisting paid sick leave be a part of the government's response.
Analysis

Markets are sending a message: Recession risk is real

The real risk to the economy is a slew of defaults — both personal and business.

  • One key factor in the collapse: a price war kicked off over the weekend by Saudi Arabia when it decided to flood the markets with cheap oil, driving prices down and hurting oil producers in America, Canada, and elsewhere. [Washington Post / Thomas Heath, Will Englund, and Taylor Telford]
  • Saudi Arabia’s decision comes after Russia broke with the Organization of the Petroleum Exporting Countries, better known as OPEC, over the weekend and refused to cut oil production in order to artificially inflate prices. Both countries’ economies rely heavily on oil revenue, but demand has flagged as the coronavirus curbs travel in China and elsewhere. [Bloomberg / Ilya Arkhipov, Will Kennedy, Olga Tanas, and Grant Smith]
  • The result is less than positive for US economic outlooks: The yield curve for Treasury bonds fell sharply in response to the oil glut, compounding the economic impact from a drop in consumer spending caused by the coronavirus. [NYT / Neil Irwin]
  • According to Vox’s Matthew Yglesias, this amounts to an economic “double whammy — demand is collapsing and investors do not believe that world governments will provide enough stimulus to prevent price drops.” Without taking steps to try to mitigate this, he says, it could lead to a serious recession. [Vox / Matthew Yglesias]
Italy's death toll leaps by 97 in one day to 463
  • Italy had previously locked down much of its northern region in response to a worsening coronavirus outbreak, meaning Europe could also be facing a major economic shock. However, the European Central Bank is unlikely to make any dramatic moves in response to the virus. [WSJ / Pietro Lombardi, Tom Fairless, and Patricia Kowsmann]
  • As of Monday, the lockdown was extended to include all of Italy; that means the entire country will be under major travel restrictions and many public venues will be closed. [BBC]




Florida Republican Matt Gaetz goes into quarantine AFTER flying on Air Force One with

2 Congressmen Who Spent Time With Trump Go Into Isolation Amid Fear of Coronavirus

One of them, Representative Matt Gaetz, rode back on Air Force One from Florida to Washington on Monday afternoon. He announced his self-quarantine an hour after getting off the president’s plane.
Representative Doug Collins, Republican of Georgia, who toured the Centers for Disease Control and Prevention in Atlanta with Mr. Trump on Friday, likewise went into isolation on Monday after being told by the C.D.C. that it had found a photograph of him with the infected person at the conservative conference.

Mr. Collins was on the tarmac when Mr. Trump landed in Atlanta on Friday and shook the president’s hand before joining him on the tour of the C.D.C. “While I am not experiencing any symptoms, I have decided to self-quarantine out of an abundance of caution,” Mr. Collins wrote on his Twitter feed.

That makes four members of Congress who have now quarantined themselves because of their potential exposure at the conservative conference, including Senator Ted Cruz of Texas and Representative Paul Gosar of Arizona, both Republicans.

March 5, 2020

Dow falls nearly 1,000 points as market volatility continues as Coronavirus keeps spreading. De Blasio says virus spread is 'unpredictable and worrisome'


The Dow Jones industrial average and Standard & Poor's 500 both closed down about 3.5 percent.
By Taylor Telford and Thomas Heath

Every New Yorker who has 'recently' returned from five coronavirus hot-spot countries is told to self-quarantine for two weeks - as Mayor Bill de Blasio says virus spread is 'unpredictable and worrisome'

Another two people have tested positive for coronavirus in New York City, bringing the total number of cases in the state to 13. Mayor Bill de Blasio has also pleaded for more test kits.

Infections hit new states; passengers are tested on cruise ship off California

Coronavirus gains speed in Latin America


Coronavirus testing capacity does not exist at Capitol thus far, Pelosi says


Retailers try to keep stores clean of coronavirus


FIVE states in the US are NOT testing for coronavirus AT ALL as Washington state residents are furious that only 100 tests can be run a day after CDC sent flawed kits


The Centers for Disease Control and Prevention say that six states do not have labs currently testing for coronavirus; Alabama, Maine, Ohio, Oklahoma, West Virginia and Wyoming..

Mike Pence admits America does NOT have enough testing kits to meet coronavirus demand as senators are told pledge for one million this week will NOT happen

Mike Pence revealed Thursday that the administration will not be able to follow through on its promise to deliver 1 million coronavirus testing kits by the end of the week.