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Biden says states ought to reinstate masks mandates and wait to reopen companies as Covid instances rise

Biden says states should reinstate mask mandates and wait to reopen businesses as Covid cases rise

President Joe Biden speaks about Covid-19 reactions and vaccinations in the South Court Auditorium of the White House in Washington DC on March 29, 2021.

Jim Watson | AFP | Getty Images

President Joe Biden on Monday called on governors and local leaders dropping full masked mandates in order to reinstate their orders. Some states should wait to reopen their economies while condemning “reckless behavior” that is likely to cause further infections.

“Our work is far from over. The war against Covid-19 is far from won,” Biden said at a press conference in which he announced a number of plans to significantly expand access to vaccines in the coming weeks. “This is dead serious.”

The President said he supported Dr. Rochelle Walensky, director of the Centers for Disease Control and Prevention, who said earlier Monday that the US is facing “impending doom” as daily Covid-19 cases begin to rebound. Biden also said he believes some states should pause their reopening plans in light of the recent surge in cases.

Walensky said earlier in the day during a press conference that many states are reopening their economies even though virus transmission levels remain too high. Walensky said she would ask governors on Tuesday “not to open too quickly”.

“I’m going to pause here, I’m going to lose the script, and I’m going to think about the reoccurring feeling I have before the impending doom,” Walensky told reporters. “We can look forward to so much, so much promise and potential where we are and so much reason to hope, but right now I’m scared.”

According to a CNBC analysis of data compiled by Johns Hopkins University, the US saw an average of 63,239 new Covid-19 cases per day over the past week, up 16% from the previous week. In 30 states and the District of Columbia, daily cases are increasing by at least 5%.

While hospital stays and coronavirus deaths tend to lag behind infection, the daily death toll has hit a plateau. The U.S. reports a weekly average of 970 coronavirus deaths per day, a 3% decrease from the previous week, according to Johns Hopkins.

“We’re giving up hard-fought, hard-won wins,” said Biden. “And as much as we do in America, it’s time to do more.”

Urging states and corporations to maintain or reintroduce widespread mask mandates, the president said failure to take the virus seriously “is exactly what got us into this chaos in the first place” and could lead to more infections and deaths .

Senior public health officials have urged states to proceed with caution for weeks, warning that highly transmittable virus variants – particularly B.1.1.7, which were first identified in the UK – threaten to jeopardize the country’s progress after the infections are almost have receded for three months.

Despite these requests, a handful of governors have decided to lift capacity restrictions on businesses like restaurants and gyms. Some states, like Texas and Mississippi, have dropped requirements for statewide masks, while others, like Alabama, announced it in early April.

“We’re making progress on vaccinations, but cases are rising and the virus is still spreading in too many places,” Biden said.

He announced that 90% of adults in the US will be eligible for Covid-19 shots by April 19 and can get it within five miles of their home under the government’s expanded vaccination schedule.

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Health

CDC chief warns U.S. headed for ‘impending doom’ as Covid instances rise once more: ‘Proper now I am scared’

CDC chief warns U.S. headed for 'impending doom' as Covid cases rise again: 'Right now I'm scared'

The US faces “impending doom” as daily Covid-19 cases rise again and threaten to send more people to hospital, despite vaccinations accelerating nationwide, the head of the US Centers for Control and Prevention said of diseases on Monday.

“When I started at CDC about two months ago, I made a promise to you: I would tell you the truth if it wasn’t the news we wanted to hear. Now is one of those times when I share the truth and I have to hope and trust that you will listen, “said CDC Director Dr. Rochelle Walensky during a press conference.

“I’m going to pause here, I’m going to lose the script, and I’m going to think about the recurring feeling I have of impending doom,” Walensky said. “We can look forward to so much, so much promise and potential where we are and so much reason to hope, but right now I’m scared.”

According to a CNBC analysis of data compiled by Johns Hopkins University, the US is seeing a weekly average of 63,239 new Covid-19 cases per day, up 16% from the previous week. Daily cases now grow at least 5% in 30 states and DC

Coronavirus hospital stays are also increasing. The US reports a 7-day average of 4,816 Covid-19 hospital admissions on Friday, up 4.2% from the previous week, according to CDC data.

Walensky urged Americans to “hold out just a little longer” and get vaccinated against the virus as soon as it is their turn. When cases come up like they have in the last week or so, Walensky said, “they often sway shortly after and bubble big”.

“I’m not necessarily speaking today as your CDC director and not just as your CDC director, but as a woman, as a mother, as a daughter, asking you to please hold on for a while,” said Walensky.

Leading public health experts have warned since late February that infections could pick up again amid the surge in virus variants threatening the US, similar to Europe.

One of these variants, first identified in the UK, known as B.1.1.7, has now been discovered in all states except Oklahoma, according to the latest data from the CDC. The CDC is also closely monitoring another variant found in New York City known as B.1.526, which is also considered more transmissible compared to previous strains, Walensky said last week.

The Chief Medical Officer of the White House, Dr. However, Anthony Fauci said Sunday the disruptive virus mutations aren’t the only reason cases are on the rise.

More and more Americans, fed up with pandemic restrictions and reassured by the life-saving vaccines, are heading for the spring break. Some heads of state are pulling back restrictions, including masked mandates, to help slow the spread of the virus.

“We take variations seriously and are concerned, but it’s not just variations that do that,” Fauci told CBS ‘Face the Nation on Sunday.

The vaccine rollout is accelerating

Walensky’s grim warning followed an otherwise optimistic update on the country’s vaccine rollout.

The US is administering an average of 2.7 million shots per day weekly. This is “significant progress” toward President Joe Biden’s new goal of administering 200 million shots in his first 100 days in office, said Andy Slavitt, White House senior advisor on Covid Response.

“This is good news. We are on the right track, but we cannot slow down. Millions remain unvaccinated and at risk,” said Slavitt.

Over 72% of Americans age 65 and over have now received at least one dose of vaccine, while nearly half of that age group are considered fully vaccinated. More than a third of all American adults have now received at least one shot, CDC data shows.

A new study by the agency on Monday found that Pfizer and Moderna vaccines were shown to be highly effective at just one dose.

The study, which examined nearly 4,000 health care workers, first responders and frontline workers between December 14 and March 1, found that vaccines were 80% effective against coronavirus infections after just a single dose.

However, federal health officials claimed two doses were better than one, adding that the vaccines’ effectiveness rose to 90% two weeks after the second shot.

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Business

Rise in Covid instances cannot be blamed on variants alone as journey resumes

'I totally disagree with you,' Fauci tells GOP senator in fiery exchange over masks

Dr. Anthony Fauci, director of the National Institute for Allergies and Infectious Diseases, testifies on the federal response to the coronavirus on Capitol Hill during a Senate Committee on Health, Education, Labor and Pensions hearing on March 18, 2021 in Washington, DC.

Susan Walsh | Pool | Getty Images

The recent spike in new Covid-19 infections cannot be attributed to highly transmissible variants alone, as more Americans travel to spring break and states lift repeal restrictions, including mask mandates, to slow the spread of the virus, according to the white’s chief medical officer House, Dr. Anthony Fauci said on Sunday.

After nearly three months of decline, U.S. coronavirus cases are starting to recover. According to a CNBC analysis of data compiled by Johns Hopkins University, the country reports a weekly average of 61,821 new Covid-19 cases per day, up 12% from the previous week.

It’s a result that public health experts, including Fauci, have been warning of since late February after daily infections plateaued due to the surge in virus variants that are too common in the US, as in Europe.

A variant first identified in the UK in relation to public health professionals, known as B.1.1.7, has been discovered in all states except Oklahoma, according to the latest data from the Centers for Disease Control and Prevention.

Other highly transmissible variants, first found in South Africa and Brazil, referred to as B.1.351 and P.1, respectively, have now been identified in the United States. The CDC is carefully tracking another variant found in New York City called B.1.526, which is also believed to be more transmissible compared to previous strains, said agency director Dr. Rochelle Walensky, on Wednesday.

A more transmissible virus could lead to more infections and inevitably hospitalizations and deaths, even if the most at risk are vaccinated against the disease, experts warn, making the race to vaccinate more people crucial. However, Fauci said the disruptive mutations aren’t the only reason the cases are on the rise.

“What we’re likely to see is due to things like the spring break and the withdrawal of the mitigation methods you’ve seen. Now several states have done that,” Fauci told CBS ‘Face the Nation on Sunday.

“We take variations seriously and are concerned, but it’s not just variations that do that,” he said.

Despite repeated warnings from the Biden administration, some states have pushed ahead with reopening their economies, citing accelerated vaccine adoption and declining cases and hospital stays as reasons.

State officials have lifted capacity restrictions on businesses like gyms and restaurants, while a handful of them have canceled or plan to remove statewide mask requirements. Millions of Americans cooped up last year are going back to heaven and using cheap flights and hotels while they last.

“Even with the people on the planes wearing masks when you get to the airport, the check-in lines, the food lines for restaurants, the boarding that you see, people can gather sometimes, these are things that elevate.” always the risk of infection, “said Fauci on Sunday.

Other high-level health officials in Biden have warned that now is not the time to relax restrictions. Walensky said during a press conference at the White House Friday that she was “deeply concerned” with the progress of the nation’s epidemic.

“We have seen cases and hospital admissions that have gone from historical declines to stagnation and growth. We know from previous waves that if we don’t control things now, the epidemic curve can rise again,” Walensky said.

– CNBC’s Leslie Josephs contributed to this report.

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Health

Covid circumstances are rising, hospitalizations have plateaued whilst vaccinations rise

Covid cases are rising, hospitalizations have plateaued even as vaccinations rise

Paramedic Lenny Fernandez, medical assistant Rodnay Moore, and paramedic certified Calvin Davis (left to right) prepare doses of the Pfizer COVID vaccine as the City of Vernon Health Department workers open the new clinic for the city’s mobile health unit for delivery Vaccinations used by COVID-19 against nearly 250 food processing workers at Rose & Shore, Inc. March 17, 2021 in Vernon, CA.

Al Seib | Los Angeles Times | Getty Images

Covid-19 cases are on the rise and hospital admissions in the US have increased despite the country setting a new record for coronavirus vaccine doses given in one day on Saturday.

The US had a 7-day average of 61,359 new Covid-19 cases per day on Friday, a 12% increase from last week. This comes from a CNBC analysis of the data from Johns Hopkins University.

Coronavirus daily hospital admissions steadily decreased from January to February, but now hospital admissions are on the decline. The country recorded an average of 7,790 Covid-19 hospitalizations in seven days on Thursday, up 2.6% from a week earlier. This is based on data from the Centers for Disease Control and Prevention.

“I remain deeply concerned about this development,” said CDC Director Dr. Rochelle Walensky during a press conference at the White House on Friday. “We have seen cases and hospital admissions that have gone from historical declines to stagnations and increases. We know from previous waves that the epidemic curve has real potential to rise again if we don’t control things now.”

Europe battles third wave of Covid infections as countries like France, Poland and Ukraine reintroduce lockdowns to contain the spread of viruses.

The rising cases and stagnant hospital stays occur as more and more Americans are vaccinated. More than 3.4 million doses of the Covid-19 vaccine were given on Saturday, according to the CDC. Saturday’s total broke the previous record for the most Covid-19 vaccine shots given on a day set on Friday, with 3.37 million doses reported.

The rate of vaccination is increasing rapidly with an average of seven days on Saturday of more than 2.6 million daily shots. More than 140 million Covid vaccine doses have been administered in the US since Saturday, according to the CDC.

President Joe Biden set a new goal Thursday of administering 200 million coronavirus vaccine shots in his first 100 days in office.

The urge for increased vaccinations comes from the fact that on March 19, the chief physician of the White House of the USA, Dr. Anthony Fauci, highly infectious and potentially more deadly variants of the virus continue to spread. The coronavirus variant first identified in the UK probably makes up 30% of vaccinations from Covid infections in the US

New strains are of particular concern to public health officials as they could become more resistant to antibody treatments and vaccines. Still, the World Health Organization said in February that Covid-19 vaccines had been shown to be effective in preventing serious illnesses and deaths among those infected.

Covid-related deaths in the US have decreased. According to a CNBC analysis of the Johns Hopkins data, the US recorded a seven-day average on Friday with 992 new coronavirus-related deaths per day, a 14% decrease from the previous week.

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Business

New Jersey prone to pause reopening plans as instances rise, governor says

New Jersey likely to pause reopening plans as cases rise, governor says

New Jersey Governor Phil Murphy speaks at a press conference after touring the vaccination site at the New Jersey Convention and Exposition Center Covid-19 in Edison, New Jersey on Friday, January 15, 2021.

Mark Kauzlarich | Bloomberg | Getty Images

New Jersey is likely to suspend its reopening plans as Covid-19 cases in the state rise again, Governor Phil Murphy said Monday.

Since Sunday, the 7-day average of new Covid-19 cases in the state has risen to just over 4,000 per day – an increase of more than 10% from the previous week. This comes from a CNBC analysis of the data compiled by Johns Hopkins University. It also tops the US in new cases per capita last week, according to the Centers for Disease Control and Prevention.

When asked on CNN whether the state would “hold back” from reopening plans for a week or two, Murphy said, “I think you’ll see we do that in the future.”

“I suspect we won’t develop any additional capacity for some time because of the case load,” he said, adding that he believed that things should improve as the weather warms up and more people in the state are vaccinated.

New Jersey has increased its indoor restaurant and other business capacity to 50%, according to Murphy.

Other states are also seeing spikes in new cases when they reopen, and health officials are concerned that it could cause a new spike as highly contagious variants spread across the country.

“We are now in a position where we have a plateau of around 53,000 cases per day,” said Dr. White House chief physician Anthony Fauci on Friday. “The concern is that there are a number of states, cities, and regions across the country that are withdrawing some of the mitigation methods we talked about: withdrawing mask mandates, withdrawing from essentially non-public health interventions.”

As of Sunday, the CDC had identified 6,390 cases of the B.1.1.7 variant, which were first identified in the UK. The agency identified 194 cases of the B.1.351 strain from South Africa and 54 cases of P.1, a variant, identified for the first time in Brazil.

In New Jersey, officials have identified 160 cases of variant B.1.1.7, one case of strain B.1.351, and two cases of variant P.1, according to the CDC.

“We are monitoring these variants very closely, the case numbers have clearly increased,” said Murphy. “We clearly have these variants in our state, as we see in New York City, which is a little reminiscent of what happened last spring.”

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Business

Williams-Sonoma earnings boosted by stay-at-home developments, shares rise

Williams-Sonoma earnings boosted by stay-at-home trends, shares rise

Pedestrians walk outside a Williams-Sonoma Inc. store in San Francisco, California.

David Paul Morris | Bloomberg | Getty Images

Williams-Sonoma posted a fourth quarter profit on Wednesday that exceeded analysts’ expectations as consumers continued to buy furniture and cookware as they spent more time at home during the coronavirus pandemic.

The company’s stock rose more than 11% in expanded trading as the company expects growth to continue over the coming year.

The company reported for the fourth quarter ended Jan. 31, relative to Wall Street analysts’ expectations based on a survey by Refinitiv:

  • Earnings per share: $ 3.95 adjusted versus $ 3.39 expected
  • Revenue: $ 2.29 billion versus $ 2.18 billion expected

“In the fourth quarter, despite shipping restrictions and low retail traffic, we achieved another quarter with sales and profitability growth of 26% and EPS growth of over 85%,” said Laura Alber, President and CEO of Williams-Sonoma, in a press release .

Net income rose from $ 166 million, or $ 2.10 per share last year, to $ 309 million, or $ 3.92 per share.

Excluding items, Williams-Sonoma earned $ 3.95 per share, beating analysts polled by Refinitiv, which was expected to $ 3.39 per share.

Revenue increased 24% from $ 1.84 billion a year ago to $ 2.29 billion, beating expectations of $ 2.18 billion.

The growth was fueled by a 47.9% increase in e-commerce sales, with approximately 70% of total sales coming from the e-commerce business.

Revenue for the entire company in the same store rose 25.7% in the most recent quarter, with all brands posting double-digit gains.

The brand of the same name, Williams-Sonoma, reported a 26.2% increase in sales in the same store. Both Pottery Barn and Pottery Barn Kids and Teen saw sales grow 25.7% in the same store. West Elm was close behind with a 25.2% increase in sales in the same business.

In fiscal 2021, the retailer expects retail traffic to recover and inventory levels to improve.

The company expects its performance to be in line with its long-term financial goals, which require mid to high single digit revenue growth.

Although the company’s business received support as consumers ate more meals at home and wanted to decorate their homes during the health crisis, Alber believes the business will continue to be driven by favorable macro trends that will support the business in the long term. Factors she cited included high consumer confidence, a strong real estate market, a shift to e-commerce, and the expectation that people will continue to work from home for more time in the future.

Williams-Sonoma said it would increase its dividend 11.3% to 59 cents per share. Meanwhile, the board of directors approved plans to repurchase shares valued at $ 1 billion. The new buyback plan replaces its previous approval and comes into effect on March 17th.

Read the full results publication here.

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World News

Inventory futures are little modified as yields rise earlier than an replace from the Fed

Stock futures are little changed as yields rise before an update from the Fed

US stock futures changed little on Wednesday as investors await the outcome of the Federal Reserve’s two-day meeting and Fed Chairman Jerome Powell’s comments later in the day.

Dow Jones Industrial Average futures gained 35 points. The S&P 500 futures were flat. Nasdaq 100 futures lost 0.2%.

The 10-year government bond yield rose to a new 13-month high in early trading. The yield rose to 1.65%, its highest level since early February 2020, beating its most recent high of 1.642% on Friday.

On Wednesday, the Fed will release new economic and interest rate forecasts that could suggest that Fed officials expect a rate hike by or even before 2023. The central bank is expected to recognize stronger growth, which should bring the Fed’s loose policies under control, especially given the new $ 1.9 trillion stimulus spending.

Investors will also hear from Fed Chairman Powell, who is likely to move the equity and bond markets with his comment, although he is unlikely to offer details.

“There is this assumption [Powell’s] will be cautious tomorrow. When it comes to another round of spending, he finds it difficult not to be reluctant. You are definitely afraid of scaring the market. They are afraid of disrupting the recovery, “Bleakley Advisory Group chief investment officer Peter Boockvar told CNBC.

Rising interest rates have been an overhang for stocks in the past few weeks, especially for the tech sector. The surge in yields has forced value stocks to shift away from growth, pushing the Dow Jones Industrial Average and S&P 500 near record highs.

A heavy roll-out of vaccines and the relaxation of government lockdowns have also spurred inventory re-opening.

The cruise lines Royal Caribbean and Carnival gained about 1% apiece in early premarket trading on Wednesday. McDonald’s shares rose 1% after Deutsche Bank upgraded the stock to buy from the hold.

On Tuesday, the Dow lost nearly 130 points, hurt by a nearly 4% decline in Boeing stock. The 30-stock average posted a seven-day profit streak. The S&P 500 fell 0.16% after hitting a record high during the trading session.

The Nasdaq Composite was the relative outperformer, up 0.09% as Facebook, Amazon, Apple, Netflix, and Google’s parent Alphabet all saw gains. The tech-intensive index rose more than 1% at one point in the session.

– CNBC’s Patti Domm contributed to this report.

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World News

Inventory futures rise barely after Dow units document excessive

Stock futures rise slightly after Dow sets record high

A trader on the floor of the New York Stock Exchange.

Source: NYSE

Stock futures rose slightly on Wednesday evening after the market’s blue-chip average hit another record high during regular trading hours.

Futures contracts for the Dow Jones Industrial Average gained 72 points, or 0.2%. Those for the S&P 500 and Nasdaq 100 rose 0.3% and 0.4%, respectively.

The futures move came after the Dow rose 464 points to a record high on Wednesday. The S&P 500 rose 0.6% while the Nasdaq Composite fell slightly as the rotation away from growth stocks resumed.

Wednesday’s gains came as the House passed the $ 1.9 trillion stimulus package and sent it to President Joe Biden. While the bond market digested an auction of 10-year government bonds worth $ 38 billion with no volatility spike.

Rising interest rates in recent weeks have accelerated the move away from technology and growth stocks to more cyclical sectors like energy. Higher interest rates make profits less attractive to investors in distant years and can knock down stocks with relatively high valuations.

“The faster-than-expected acceleration in US economic growth appears to be raising inflation and longer-term interest rates,” said Gary Schlossberg of the Wells Fargo Investment Institute in a note. “The pace of these increases has been a recent concern of investors, but a rebound in interest rates and inflation is a typical occurrence at the beginning of a rebound – faster this time, in our opinion, as economic growth rebounds abnormally.”

However, this week was stronger overall for growth stocks as a rise in the Nasdaq on Tuesday pulled the index out of correction territory. The Invesco QQQ Trust, which tracks the Nasdaq 100, is up slightly this week after falling over the past three weeks.

In terms of data, investors will receive two new pieces of information on the labor market recovery on Thursday. The first number of unemployment claims for the past week will be published at 8:30 a.m. CET. The economists surveyed by Dow Jones expect 725,000 new claims. The January job posting and turnover survey will take place later this morning.

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Health

WHO scientist warns world is at ‘very dangerous’ stage as Covid instances rise

WHO scientist warns world is at 'very risky' stage as Covid cases rise

The world needs to step up its efforts to fight Covid-19 – and countries must not give up their vigilance, the World Health Organization’s chief scientist warned on Monday as coronavirus cases rise around the world.

“We are in a very risky phase,” said Dr. Soumya Swaminathan from the World Health Organization. “We have to double up, this is not the time to slack off.”

The WHO warned last week that the number of new Covid-19 cases is increasing with declines worldwide after six consecutive weeks. More than 2.6 million new cases were reported in the last week of February, a 7% increase from the previous week, according to the health department.

The Eastern Mediterranean, Southeast Asia, Europe and America all recorded increases of between 6% and 14%.

Although vaccines are on the rise for us in the nation, we cannot give up our vigilance.

Julie Morita

Robert Wood Johnson Foundation

“This is partly due to lockdown fatigue, you know. It’s because people … may loosen up believing vaccines are on the way,” Swaminathan told CNBC’s Squawk Box Asia on Monday. New variants could also play a role, she added.

“We have to … do everything we know to keep these viruses under control, keep transmission under control until we have enough vaccines,” she said, warning health systems could become overloaded again.

“Health workers around the world are exhausted, they have been battling it for over a year now,” she added.

Other health professionals have also suggested that it is not time to get complacent.

Julie Morita, executive vice president of the Robert Wood Johnson Foundation, said it was important to realize that infections, hospitalizations and deaths are still high even after falling from their peaks in the US

“It is still necessary that we wear our masks, social distance, avoid large crowds while we are vaccinated,” she told CNBC’s Street Signs Asia on Monday.

“Although vaccines are on the rise for us in the nation, we cannot give up our vigilance,” she said. “It’s way too early to relax.”

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World News

Dow futures rise greater than 100 factors after Senate passes $1.9 trillion Covid aid invoice

Dow futures rise more than 100 points after Senate passes $1.9 trillion Covid relief bill

Traders work on the trading floor of the New York Stock Exchange.

NYSE

The Dow futures rose on Sunday evening as a new stimulus package from Washington headed for the final passage this week.

Futures contracts linked to the Dow Jones Industrial Average gained 101 points, or 0.3%. Those for the S&P 500 rose 0.2% while those for the Nasdaq 100 fell 0.3%, suggesting that recent underperformance in technology stocks may continue Monday.

The move into the future came after the Senate passed a $ 1.9 trillion economic relief and incentive bill on Saturday that paved the way for an increase in unemployment benefits, another round of economic reviews, and aid to government and local governments paved. The Democratic-controlled house is expected to pass the law later this week. President Joe Biden is expected to sign the bill before the unemployment benefits programs expire on March 14.

The new round of government spending could ripple the US financial market, where the 10-year benchmark yield has risen sharply in recent weeks. The yield rose to 1.62% on Friday after falling below the 1% mark in the calendar year. It was trading at around 1.59% on Sunday evening.

The rapid movement of the tagged bond has also unsettled equity investors and contributed to the weakness of stocks with high valuations.

“10-year returns have finally caught up with other asset markets. This is putting pressure on valuations, especially for the most expensive stocks that hit nosebleed ratings,” said Mike Wilson, chief US equity strategist at Morgan Stanley, in a note.

The stock market pulled through an afternoon rally on Friday that took some of the sting out of a difficult week for soaring momentum names. The tech-heavy Nasdaq ended the week down 2.1% while the S&P 500 rose 0.8%. The Dow, which relied more on cyclical stocks, rose 1.8%.

Friday’s turnaround doesn’t signal that recent market weakness is over, but the divergence between technical and cyclical games shows that the bullish history remains intact, Morgan Stanley’s Wilson said.

“The bull market remains under the hood, with value and cyclicals taking the lead. Growth stocks can rejoin the party once the valuation correction and repositioning are complete,” said Wilson.

In economic terms, starting in January, investors will take a look at wholesale inventory data on Monday. Several economic measures in recent weeks have shown the recovery is accelerating, including a better-than-expected February job report released on Friday.