Sharp Rally Ends the Week's Roller Coaster Ride

Sharp Rally Ends the Week's Roller Coaster Ride

The S&P 500 bounced off support but remains vulnerable. The yield curve emerged from inversion, and the yuan remains low vs. the dollar.

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  • New Disclosures Confirm: Trump Himself Was the Target of Obama Administration’s Russia Probe
    National Review

    New Disclosures Confirm: Trump Himself Was the Target of Obama Administration’s Russia Probe

    Long-sought documents finally pried from U.S. intelligence agencies prove that the Obama administration used the occasion of providing a standard intelligence briefing for major-party candidates as an opportunity to investigate Donald Trump on suspicion of being a Russian asset. I say investigate Donald Trump advisedly. As I contended in Ball of Collusion, my book on the Trump-Russia investigation, the target of the probe spearheaded by the FBI — but greenlighted by the Obama White House, and abetted by the Justice Department and U.S. intelligence agencies — was Donald Trump.

  • Record coronavirus case rises reported as U.S. faces stark death toll projection
    NBC News

    Record coronavirus case rises reported as U.S. faces stark death toll projection

    Record daily coronavirus case spikes have been reported in several countries after social distancing measures were eased, days after the U.S. Centers for Disease Control and Prevention (CDC) issued a stark projection that the U.S. death toll could climb to 180,000 Americans by the end of this month. In Japan, the number of new coronavirus cases topped 1,500 for the first time since the pandemic began in February. The capital Tokyo reported an increase of 472 cases on Saturday, a new record, health officials in the country said.

  • Residents forced to evacuate as 'Apple Fire' burns out of control in California
    The Telegraph

    Residents forced to evacuate as 'Apple Fire' burns out of control in California

    Nearly 8,000 residents of Riverside County in Southern California were forced to evacuate their homes on Saturday as a wildfire spread uncontained across more than 4,000 acres, the County fire department said. The fire - dubbed the Apple Fire by local firefighters, who routinely give blazes identifying names - was reported on Friday in Cherry Valley, a community about 75 miles east of Los Angeles. Photographs shared by the Riverside County fire department on Twitter on Saturday showed thick plumes of smoke filling the sky over the mountainous region.

  • Annual Sturgis rally expecting 250K, stirring virus concerns
    Associated Press

    Annual Sturgis rally expecting 250K, stirring virus concerns

    Sturgis is on. The message has been broadcast across social media as South Dakota, which has seen an uptick in coronavirus infections in recent weeks, braces to host hundreds of thousands of bikers for the 80th edition of the Sturgis Motorcycle Rally. More than 250,000 people are expected to rumble through western South Dakota, seeking the freedom of cruising the boundless landscapes in a state that has skipped lockdowns.

  • Arizona congressman tests positive for coronavirus
    Reuters

    Arizona congressman tests positive for coronavirus

    Representative Raul Grijalva, an Arizona Democrat, has tested positive for coronavirus but feels fine and has gone into isolation, he said in a statement on Saturday. Grijalva, 72, was told of the positive test by the attending physician of the capitol, he said. Grijalva chaired a hearing this week attended by Rep. Louie Gohmert, a Texas Republican who has also tested positive and who has been photographed without a mask.

  • Crashed plane packed with cocaine was bound for Australia, police say
    BBC

    Crashed plane packed with cocaine was bound for Australia, police say

    Police say a small plane that crashed shortly after take-off in Papua New Guinea had been overloaded with cocaine destined for the Australian market. In a statement, Australian police said the gang had been under surveillance for two years. The light plane had taken off from Mareeba in North Queensland on Sunday and flew at a low altitude to avoid radar detection before landing at a remote airfield at Papa Lea Lea, north of Port Moresby.

  • The world's airlines say they won't recover until 2024, reflecting a new wave of pessimism as the pandemic rages on
    Business Insider

    The world's airlines say they won't recover until 2024, reflecting a new wave of pessimism as the pandemic rages on

    Reuters The International Air Transport Association, which represents most of the world's major airlines, said it does not expect the airline industry to recover from the coronavirus pandemic until 2024. The timeline, along with recent comments from airline executives, reflects a new level of public pessimism about when business will return to normal. Industry analysts offered that timeline as early as April, when airlines were painting a rosier picture.

  • Schumer calls latest round of coronavirus relief talks most productive yet, but sides still 'not close'
    The Week

    Schumer calls latest round of coronavirus relief talks most productive yet, but sides still 'not close'

    As a result, nearly 30 million U.S. workers will now have a lapse in their unemployment benefits. There's still nothing imminent, but the four negotiators did suggest there was a little more movement Saturday, with Schumer calling it the most productive meeting yet. Work will continue Sunday with staff only meetings, and Pelosi, Schumer, Mnuchin, and Meadows will meet again on Monday.

  • Homeland Security official reassigned after intelligence reports on journalists covering protests
    The Independent

    Homeland Security official reassigned after intelligence reports on journalists covering protests

    A US intelligence official with the Department of Homeland Security (DHS) has been reassigned following revelations that his office compiled "intelligence reports" on journalists and analysed communications between protesters amid ongoing demonstrations in Portland, Oregon. Brian Murphy was removed from his post following a report in The Washington Post revealing that the DHS Office of Intelligence and Analysis sent open source intelligence reports to federal law enforcement agencies containing information from two reporters who had published leaked unclassified government documents while covering Black Lives Matter protests.

  • TikTok teens are making memes saying they'll show up at the White House to confront Trump over app ban
    INSIDER

    TikTok teens are making memes saying they'll show up at the White House to confront Trump over app ban

    TikTok President Donald Trump on Friday told reporters he would take action to ban popular app TikTok as early as Saturday. Trump over the past month has joined other US officials in expressing security concerns over the app's Chinese ownership and suggested the service is sharing user data with the Chinese government, though the app's owner has denied doing so. While some TikTok creators encouraged their fans to follow them on their other social media accounts, others made memes or plans to set up a virtual private network so they could still use the app after a ban.

  • Connie Culp, 1st US partial face transplant recipient, dies
    Yahoo News Video

    Connie Culp, 1st US partial face transplant recipient, dies

    Connie Culp, the recipient of the first partial face transplant in the U.S., has died at 57, almost a dozen years after the groundbreaking operation.

  • South Africa's coronavirus case toll soars while Lagos continues phased reopening
    The Telegraph

    South Africa's coronavirus case toll soars while Lagos continues phased reopening

    South Africa has become the fifth nation to pass the grim milestone of half a million confirmed coronavirus cases, which account for more than 50 per cent of all Covid-19 infections on the continent of Africa. Zwelini Mkhezi, the health minister, announced a further 10,107 new cases on Saturday, meaning that the Rainbow Nation now only tails the USA, Brazil, Russia and India by number of infections, despite having a significantly smaller population. Despite the dizzying numbers, Cyril Ramaphosa, the president of South Africa, said he sees “promising signs” that the alarming growth of cases is stabilising and the health care system in his country is coping in most areas.

  • In Italy, a new normal amid the pandemic while bracing for a second wave
    NBC News

    In Italy, a new normal amid the pandemic while bracing for a second wave

    But while Italy has seen a significant drop in the number of new infections — logging around 150 to 300 new cases nationwide each day for the past week, down from a record high of more than 6,500 on March 21 — experts are bracing for an inevitable second wave. We're worried because the virus didn't just disappear,” said Dr. Roberto Cosentini, head of the emergency medicine unit at the Papa Giovanni XXIII Hospital in Bergamo, in Italy's Lombardy region. Still, the countrywide stay-at-home orders were essential to getting the virus under control, said Francesco Longo, a health economist and director of the Centre for Research on Health and Social Care Management at Bocconi University in Milan.

  • UK lobbies US to support controversial new nuclear warheads
    The Guardian

    UK lobbies US to support controversial new nuclear warheads

    The UK has been lobbying the US Congress in support of a controversial new warhead for Trident missiles, claiming it is critical for “the future of Nato as a nuclear alliance”. A letter from Britain's defence secretary, Ben Wallace, seen by the Guardian, urged Congress to support initial spending on the warhead, the W93. The letter, sent in April but not previously reported, draws the UK into a US political debate, pitting the Trump administration against many Democrats and arms control groups over whether the the $14bn W93 programme is necessary.

  • Verdict looms in killing of Lebanon ex-PM Hariri
    AFP

    Verdict looms in killing of Lebanon ex-PM Hariri

    A UN-backed tribunal will give its verdict Friday on the 2005 murder of former Lebanese premier Rafic Hariri, but questions will remain over a long and costly trial whose suspects remain at large. Four alleged members of the Shiite Muslim fundamentalist group Hezbollah are on trial in absentia at the court in the Netherlands over the huge Beirut suicide bombing that killed Sunni billionaire Hariri and 21 other people. The judgment harks back to an event that changed the face of the Middle East, with Hariri's assassination triggering a wave of demonstrations that pushed Syrian forces out of Lebanon after 30 years.

  • An Arizona congressman who tested positive for the coronavirus criticized Republican lawmakers for refusing to wear masks in the Capitol
    Business Insider

    An Arizona congressman who tested positive for the coronavirus criticized Republican lawmakers for refusing to wear masks in the Capitol

    Bonnie Cash/Pool via Reuters An Arizona congressman who tested positive for the coronavirus condemned Republican lawmakers for not wearing face masks in the Capitol. Democrat Rep. Raúl Grijalva tested positive for the coronavirus on Saturday but is currently asymptomatic and "feeling fine," according to a spokesperson. Grijalva self-isolated out of pre-caution after attending a hearing with Republican Rep. Louie Gohmert, who has frequently not worn a face mask on the floor and tested positive for the virus on Wednesday.

  • Transcript: Mark Meadows on "Face the Nation"
    CBS News

    Transcript: Mark Meadows on "Face the Nation"

    So I think it's important for your viewers to understand that if- if you have unemployed people that have lost their enhanced unemployment, they need to call their Democrat senators and House members because they're the ones that are standing in the way of having those extended right now. JOHN DICKERSON: But there was also obviously considerable debate among Republicans on the size of that benefit that made some people think the Republicans couldn't even get a majority of their own votes. But let's talk about the sticking points now.

  • Omar, seeking 2nd term, is targeted for her celebrity
    Associated Press

    Omar, seeking 2nd term, is targeted for her celebrity

    As Democrat Antone Melton-Meaux meandered through racks of headscarves and clouds of spice and pepper, he carried a pointed message to the voters he courted at the city's largest Somali market: I want to focus on the work, not being famous. Omar, a liberal Democrat, made history two years ago as the first Somali-American elected to Congress and went on to make countless headlines for making controversial statements on Israel, for tangling with President Donald Trump and for a personal life that became tabloid fodder. All the attention has helped make Omar a progressive star, but it's also drawn criticism and a surprisingly strong primary challenger in Melton-Meaux.

  • A Florida couple has been charged after being caught getting groceries, washing their car, and walking their dog despite testing positive for the coronavirus
    INSIDER

    A Florida couple has been charged after being caught getting groceries, washing their car, and walking their dog despite testing positive for the coronavirus

    A Florida couple who was caught breaking quarantine rules despite testing positive for the coronavirus was jailed on Wednesday, according to state officials. Officials allege that Jose Antonio Freire Interian and Yohana Anahi Gonzalez repeatedly ignored orders to self-isolate after neighbors filmed them walking the dog, going for groceries, and washing their car. The couple was released from jail early on Thursday after posting a $1,000 bond.

  • ‘Murder hornets’ trapped in US for first time as officials race to eradicate colonies before breeding season
    The Independent

    ‘Murder hornets’ trapped in US for first time as officials race to eradicate colonies before breeding season

    As the US grapples with the world's worst coronavirus outbreak, a new threat is emerging as Asian giant hornets – known as “murder hornets” due to their lethal sting to humans – are gaining a foothold in the country. After they were first found in Washington State in May this year, the 2-inch (5cm)-long hornets have now been trapped for the first time – giving officials an indication – firstly that their traps work, and secondly of where nests could be situated. Now authorities in Washington State have until mid-September to try and eradicate the invasive species before the breeding season begins.

  • Manchester-born 'wellness entrepreneur' revealed as Jeffrey Epstein's alleged ex-girlfriend
    The Telegraph

    Manchester-born 'wellness entrepreneur' revealed as Jeffrey Epstein's alleged ex-girlfriend

    A Manchester-born publisher has been identified as the alleged former girlfriend of Jeffrey Epstein named in legal papers relating to Ghislaine Maxwell that were unsealed by a Manhattan court last week. A woman named as “Shelley” was allegedly named by Ms Maxwell as Epstein's girlfriend between 1999 and 2002, according to an email contained in papers released by US District Judge Loretta Preska. It has now been claimed that the woman is Shelley Ann Lewis, 43, a “wellness entrepreneur”, who runs a company called The Equanimity Expert.

  • What we know about schoolkids and coronavirus
    The Week

    What we know about schoolkids and coronavirus

    A study published in Nature in June found that children and teenagers were about half as likely as adults to get infected by the virus. "It seems, consistently, children do have lower rates of infection than adults," said Alison Tribble, a pediatric infectious disease expert at the University of Michigan. Some doctors, however, believe pediatric infections are significantly undercounted because they're often asymptomatic.

  • Letters to the Editor: John Lewis deserves to be remembered as a modern-day founding father
    Los Angeles Times Opinion

    Letters to the Editor: John Lewis deserves to be remembered as a modern-day founding father

    To the editor: "Thank you" is simply not adequate to describe our gratitude for the impact that the late Rep. John Lewis (D-Ga. had on our lives. The destiny of our great nation was made supremely better by his indelible courage in the face of pure evil.

  • Portland, America's 'whitest' big city, is an unlikely hub of Black Lives Matter
    LA Times

    Portland, America's 'whitest' big city, is an unlikely hub of Black Lives Matter

    Participants in the “Wall of Vets” mustered early, setting up a human chain at nightfall in front of the Mark O. Hatfield United States Courthouse. Often called the “whitest” U.S. big city — more than 70% of the population is non-Latino white — Portland has transformed into a national center for a movement that might seem more at home in Chicago, New York, Los Angeles or another more diverse locale. “Black lives matter” has become a ubiquitous rallying cry in a city where only about 6% of the population is Black — while almost 10% is Latino and 8% is of Asian ancestry.

  • Dr. Birx: Before schools can reopen, coronavirus outbreaks must get under control
    Business Insider

    Dr. Birx: Before schools can reopen, coronavirus outbreaks must get under control

    Jonathan Ernst/Reuters White House coronavirus response coordinator Dr. Deborah Birx said that coronavirus outbreaks in the United States need to be slowed down before schools can reopen. Birx emphasized the importance of Americans following existing public health recommendations like avoiding large groups and distancing in public places to help with lifting reopening schools. Former Food and Drug Administration Commissioner Scott Gottlieb said school reopenings shouldn't only take students' health into account, but "teachers need to be thought of as front-line workers."