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World News

Inventory futures rise to kick off August buying and selling after S&P notches sixth-straight profitable month

U.S. stock futures rose on Monday as investors geared up for the first trading day of August.

Dow Jones Industrial average futures rose 93 points, or 0.3%. S&P 500 futures gained 0.4% and Nasdaq 100 futures added 0.5%. The S&P 500 and the Dow sit less than 1% from new all-time highs.

Stocks continued to shake off concerns about the delta variant of Covid, and stocks that would benefit the most from a continued economic recovery led the gains in premarket trading Monday.

Shares of Carnival Corp. were up 3% in premarket trading. Major banks including Morgan Stanley and Bank of America were higher. Airline shares were mostly higher.

“We believe the reopening and recovery trend is on track and continue to see upside for equities,” wrote Mark Haefele, chief investment officer of global wealth management at UBS. “We expect the S&P 500 to climb to around 4,650 by June next year, versus 4,395 at present. But we see the greatest upside for cyclical parts of the market, including energy, financials, and Japanese stocks.”

The Senate was finalizing the text of a bipartisan infrastructure bill, also bolstering optimism on Monday. The bill includes $550 billion in new spending over five years. That’s on top of previously approved funds of around $450 billion.

Caterpillar shares added 1% in premarket trading.

The S&P 500 managed to notch its sixth month of gains in July, although volatility increased amid concerns about the economic recovery in the face of the spreading delta Covid variant. It’s the best monthly winning streak for the benchmark since 2018. The Nasdaq Composite and Dow Jones Industrial Average added about 1.2% and 1.3%, respectively, in July, while the broad S&P 500 gained close to 2.3% last month.

The U.S. is averaging more than 72,000 new Covid cases a day the last 7 days, according to the latest CDC shows, levels not seen since February this year. However, stocks still traded near all-time highs last week even as concerns about the delta variant grew.

“At the end of the day, the stock market is driven by two things: 1) Earnings and 2) Multiples and until COVID (or China) begins to negatively impact one or both of those metrics, stocks can stay resilient,’ Tom Essaye, founder of Sevens Report, said in a note.

Concerns about inflation also plagued the market, however a key inflation indicator showed lesser-than-feared price pressures on Friday. The core personal consumption expenditures price index rose 3.5% in June year-over-year. It marked a sharp acceleration in inflation, but came in slightly below a Dow Jones forecast of a 3.6% jump.

Also on Friday, U.S. second-quarter gross domestic product accelerated 6.5% on an annualized basis, considerably less than the 8.4% rate of growth expected by economists polled by Dow Jones.

Stock picks and investing trends from CNBC Pro:

On the earnings front, Amazon sank nearly 7.6% Friday after the tech giant reported its first quarterly revenue miss in three years and gave weaker guidance. 

But an overall strong earnings season continues to be a tailwind for the market. So far, 88% of S&P 500 companies that have reported have topped EPS estimates, according to FactSet. For the second quarter, the S&P 500 is on track to post earnings growth of 85.1%, which would be the best growth rate since 2009, according to FactSet.

The first trading day of August comes with more big earnings on the way. Lyft, Amgen, Uber, CVS Health, General Motors, Roku and Square all report quarterly results this week.

Square shares sank in premarket trading after Jack Dorsey’s payment company announced a $29 billion all-stock deal to buy Australian installment loan provider Afterpay. Square was off by 4%.

Categories
Entertainment

New York’s Pop-Up Live shows Kick Off With Jazz at a Vaccination Web site

At first it seemed like a small, no-frills concert in a carefully controlled environment: Jazz musician Jon Batiste sat at a piano in an auditorium in the Javits Center on Manhattan’s West Side, performing in front of about 50 seated health care workers in evenly spaced rows – some wear scrubs, other army clothes.

The dancer Ayodele Casel began to knock, with no musical accompaniment other than a recording of her own voice, and her increased convulsive roles filled the room. And the opera singer Anthony Roth Costanzo played “Ave Maria” in the angelic tones of a countertenor.

But about half an hour later, the performers stepped off the stage and left the room. What began as a formal concert turned into a boisterous procession of music and dance that ran through the sterile building – the convention center was turned into a field hospital early in the pandemic and is now a mass vaccination site – where hundreds of hopeful people are had come on Saturday afternoon to get their shots.

Batiste switched to the melodica, a stylish, hand-held reed instrument with keyboard, and the band of musicians, which had been expanded to include a horn section and drummer, marched up the escalator and through the convention center, finally reaching a climax. Ceiling room where dozens of people quietly waited 15 minutes after the vaccination for the required waiting times.

This concert roaming party was the first in a series of “pop-up” shows in New York designed to give the arts a jolt by giving artists paid work and audiences the chance to perform live after nearly a year see darkened theaters and concert halls. Governor Andrew M. Cuomo last month announced plans for the “NY PopsUp” series in which he stated “we need to bring art and culture back to life,” adding that their revitalization is essential for the economic revitalization of New York the city is of decisive importance. The shows begin as he comes under fire for the government’s handling of Covid-19 deaths of nursing home residents.

Since the program doesn’t attract crowds, most of the performances will be unannounced and suddenly pop up in parks, museums, parking lots and street corners. The idea is to bring a dose of inspiration into the lives of New Yorkers – a moment when they can disrupt their planned lives and experience art during a pandemic year when human contact is limited and people’s activities are severely restricted.

“We need more spontaneity; That’s the beauty of it, ”said Batiste in an interview. “You don’t know what’s around the corner.”

As the band of musicians roamed the Javits Center, the audience of healthcare workers followed them, clapping to the beat, and recording the spectacle on their cell phones. Batiste, the bandleader on “The Late Show With Stephen Colbert,” drove his musicians around the room (most of whom played with the show’s house band, including Endea Owens on bass, Tivon Pennicott on saxophone, and Joe Saylor and Nêgah Santos on drums).

Bre Williams, a 35-year-old blue scrub nurse who had come from Savannah, Georgia to help out in New York, watched wide-eyed.

“You guys do all that stuff up here?” she said with a laugh.

Just before the music ended, some of the health workers rushed off to continue their work day (this concert, after all, took place during their breaks).

The series is being created by a public-private partnership led by producers Scott Rudin and Jane Rosenthal along with the New York State Council for Art and Empire State Development. Zack Winokur, the director and interdisciplinary artist in charge of the program, said the group intends to have more than 300 pop-up performances in all counties and across the state by Labor Day. The performers are selected by an artists’ council – including Batiste, Casel and Costanzo – who are each asked to use their own networks to find participants.

“It’s been a long time since I’ve seen a live performance,” said Winokur in an interview. “It’s a much needed experience right now.”

After performing at the Javits Center for the first time, the musicians made their way to Brooklyn, where they began another flash mob style street jam that started from Cadman Plaza Park and snaked through Dumbo to land at a skate park where teenagers stared at them curiously before hopping back on their skateboards. The free, mobile concerts are described by Batiste, who previously planned them on social media, as “love riots”. This drove over sidewalks and slushy snow and sometimes slowed down traffic.

Casel was prevented from tap dancing in the street and beat out rhythms by clapping her hands on the metal plates of her tap shoes. Costanzo danced with the band and at one point grabbed the megaphone to sing “Somewhere Over the Rainbow”.

While the music was meant to offer passers-by a spontaneous display, the march itself was as strictly regulated as any event from the time of the pandemic. Security guards guided members of the musical entourage through rough terrain and dog litter. Another employee asked viewers to spread out when they started violating social distancing guidelines.

Despite the logistics, the plan managed to arouse a spontaneous curiosity for dozens of people who unexpectedly came across the music. The band moved through narrow streets and shopping streets, making people stop, stare and sometimes groove a bit. Children peered through windows along Washington Street; A doorman shot out of an apartment building to see what all the noise was about. Pharmacy workers leaned out the door to film the procession on the sidewalk.

However, not everyone seemed to appreciate the music. At one point, someone in a residential building threw objects from several floors at the protesters (one of the security officers said he saw an orange juice container and a trophy in the snow).

The band, used to improvising, simply avoided the flying objects and marched a little faster, the music never stopped.

Categories
Health

Why Covid-19 Vaccines Take a Whereas to Kick In

A barrage of headlines this week flooded social media, documenting a seemingly worrying case of Covid-19 with a San Diego nurse who fell ill about a week after his first injection of Pfizer’s coronavirus vaccine.

However, experts said the disease is not unexpected: it is known that vaccines take at least a couple of weeks to protect themselves. And getting sick before getting a two-dose vaccination shouldn’t affect the effectiveness of Pfizer’s product, which has blown away with flying colors through late-stage clinical trials.

Reporting that a half-vaccinated person has Covid-19 is “really the equivalent of saying someone went outside without an umbrella and got wet in the middle of a rainstorm,” said Dr. Taison Bell, an intensive care physician at the University of Virginia. Dr. Bell received his first dose of Pfizer’s vaccine on December 15th and will soon be receiving his second shot.

The California nurse, identified as Matthew W. (45) on an ABC10 news report, received his first dose of Pfizer’s vaccine on December 18. Six days later, he started experiencing mild symptoms such as chills and muscle pain and fatigue, according to news reports. He tested positive for the virus the day after Christmas.

Dr. Megan Ranney, an emergency doctor at Brown University, said this shouldn’t be a concern. “So what????” She tweeted Wednesday in response to a Reuters article about the nurse’s illness. “It’s a 2-shot vaccination.” Dr. Ranney received her first dose of Pfizer’s vaccine on December 18th.

Dr. Describing the nurse’s illness as news, Ranney said in an interview that this was a departure from expectations – and that there should be protection about a week after the first dose of vaccine. That is not the case at all.

Vaccines take at least a few days to be protective. Pfizer’s recipe is based on a molecule called messenger RNA, or mRNA, which once injected into human cells and instructs them to make a coronavirus protein called Spike. None of these components are infectious or can cause Covid-19. But they act as coronavirus mimickers, teaching the body to recognize the real virus and defeat it should it ever occur.

It is believed that the production of spikes occurs within hours of the first shot. However, the body needs at least a few days to memorize the material before it can break down its entire arsenal of defenses against the virus. Immune cells take this time to examine the protein, then mature, multiply, and sharpen their spike-spotting reflexes.

Data from Pfizer’s clinical trials suggests that the vaccine could protect its recipients from disease about a week or two after the first injection. A second shot of mRNA, released three weeks after the first, helps the immune cells incorporate the most important features of the virus into memory and speed up the protection process.

Covid19 vaccinations>

Answers to your vaccine questions

With a coronavirus vaccine spreading out of the US, here are answers to some questions you may be wondering about:

    • If I live in the US, when can I get the vaccine? While the exact order of vaccine recipients may vary from state to state, most doctors and residents of long-term care facilities will come first. If you want to understand how this decision is made, this article will help.
    • When can I get back to normal life after the vaccination? Life will only get back to normal once society as a whole receives adequate protection against the coronavirus. Once countries have approved a vaccine, they can only vaccinate a few percent of their citizens in the first few months. The unvaccinated majority remain susceptible to infection. A growing number of coronavirus vaccines show robust protection against disease. However, it is also possible that people spread the virus without knowing they are infected because they have mild or no symptoms. Scientists don’t yet know whether the vaccines will also block the transmission of the coronavirus. Even vaccinated people have to wear masks for the time being, avoid the crowds indoors and so on. Once enough people are vaccinated, it becomes very difficult for the coronavirus to find people at risk to become infected. Depending on how quickly we as a society achieve this goal, life could approach a normal state in autumn 2021.
    • Do I still have to wear a mask after the vaccination? Yeah, but not forever. Here’s why. The coronavirus vaccines are injected deep into the muscles and stimulate the immune system to produce antibodies. This seems to be sufficient protection to protect the vaccinated person from disease. What is not clear, however, is whether it is possible for the virus to bloom in the nose – and sneeze or exhale to infect others – even if antibodies have been mobilized elsewhere in the body to prevent that vaccinated person gets sick. The vaccine clinical trials were designed to determine whether people who were vaccinated are protected from disease – not to find out whether they can still spread the coronavirus. Based on studies of flu vaccines and even patients infected with Covid-19, researchers have reason to hope that people who are vaccinated will not spread the virus, but more research is needed. In the meantime, everyone – including those who have been vaccinated – must imagine themselves as possible silent shakers and continue to wear a mask. Read more here.
    • Will it hurt What are the side effects? The vaccine against Pfizer and BioNTech, like other typical vaccines, is delivered as a shot in the arm. The injection in your arm feels no different than any other vaccine, but the rate of short-lived side effects seems to be higher than with the flu shot. Tens of thousands of people have already received the vaccines, and none of them have reported serious health problems. The side effects, which can be similar to symptoms of Covid-19, last about a day and are more likely to occur after the second dose. Early reports from vaccine trials suggest that some people may need to take a day off because they feel lousy after receiving the second dose. In the Pfizer study, around half developed fatigue. Other side effects occurred in at least 25 to 33 percent of patients, sometimes more, including headache, chills, and muscle pain. While these experiences are not pleasant, they are a good sign that your own immune system is having a potent response to the vaccine that provides lasting immunity.
    • Will mRNA vaccines change my genes? No. Moderna and Pfizer vaccines use a genetic molecule to boost the immune system. This molecule, known as mRNA, is eventually destroyed by the body. The mRNA is packaged in an oily bubble that can fuse with a cell, allowing the molecule to slide inside. The cell uses the mRNA to make proteins from the coronavirus that can stimulate the immune system. At any given moment, each of our cells can contain hundreds of thousands of mRNA molecules that they produce to make their own proteins. As soon as these proteins are made, our cells use special enzymes to break down the mRNA. The mRNA molecules that our cells make can only survive a few minutes. The mRNA in vaccines is engineered to withstand the cell’s enzymes a little longer, so the cells can make extra viral proteins and trigger a stronger immune response. However, the mRNA can hold for a few days at most before it is destroyed.

The California nurse’s illness schedule falls well within the post-vaccination vulnerability window, said Dr. Ranney. It’s also very likely that he discovered the virus around the time he got the shot, maybe even before that. People may notice symptoms of Covid-19 between two and 14 days after the coronavirus emerges, if they ever have symptoms.

A similar situation appears to have developed recently with Mike Harmon, the Kentucky state chartered accountant, who tested positive for the virus this week the day after receiving his first dose of an unspecified coronavirus vaccine.

“It appears that I was unknowingly exposed to the virus and got infected either shortly before or after receiving the first dose of the vaccine on Monday,” Harmon said in a statement. Mr Harmon reiterated his “full confidence in the vaccine itself and the need for as many people to receive it as soon as possible”.

Jerica Pitts, a Pfizer spokeswoman, noted that the vaccine’s protective effect “is significantly increased after the second dose, supporting the need for a two-dose series”.

“People may have contracted an illness before or immediately after being vaccinated,” she said.

Pfizer’s vaccine, when given in its full two-dose regimen, was found to be 95 percent effective in preventing symptomatic cases of Covid-19 – a figure that is very welcome news given the rise Coronavirus case numbers was celebrated. Still, a small percentage of people who are not protected after vaccination remain, said Dr. Ranney. “There is no such thing as a vaccine that is 100 percent effective.”

It is also unclear how well Pfizer’s vaccine can protect against asymptomatic infections, or whether it significantly limits the ability of the coronavirus to spread from person to person. This means that measures such as masking and distancing remain essential even after a full vaccination.

Data collected by Pfizer during its late-stage clinical trials suggested that the vaccine might provide at least some protection after a single dose. However, the study was not intended to specifically test how effective a one-shot regimen would be.

Dr. Krutika Kuppalli, an infectious disease doctor at the Medical University of South Carolina, said some of her colleagues tested positive shortly after their first shots. “None of this surprises me given the prevalence of the cases now,” she said. Given the expected delay in vaccination effect, “this should not be viewed as a vaccination failure”. Dr. Kuppalli, who received her first dose of Pfizer’s vaccine on Dec. 15, added that taking Covid-19 between vaccine doses shouldn’t stop anyone from getting a second shot after consulting a health care provider.

In the past few weeks, more than 2.7 million people in the US have received their first dose of Pfizer’s vaccine, or a similar shot of Moderna. Both vaccines require a second injection – and as they’re made available to more people, it’s important to keep clear communication about how and when vaccines work, said Dr. Bell.

“For now we should stick to the dosages as the experiments were carried out,” he said. “This is what will bring you maximum effectiveness.”