WASHINGTON (MaceNews) – The following is Thursday’s updated status check of developments in the U.S. that can influence economic, health and political outcomes:
- The VIX jumped more than 7% into anxiety territory at 26.08 reflecting the negativity in the day’s stocks action. The DJIA took a 1.32% hit, falling 353.51 but it was the Nasdaq that suffered the most, falling 2.29%/-244.71. Still ahead 3.6% for the month. The S&P finished off 1.23%/-40.36. After-hours trading though showed a turnaround into slight positives. Microsoft -4.35%; Apple -4.55%.
- The dollar index slipped a notch. (-1.58% for the week.) U.S. 10-year yield slips to 0.585%.
- Pres Trump took another big step in acknowledging seriousness of pandemic, canceling the Jacksonville, Fla. component of the Republican National Convention “for safety” and shrinking the remaining event back in South Carolina. Other reporting suggests attendees were canceling. Still insists students need to be in reopened schools but acknowledges some districts may have to delay the return of students. Says would consider letting schools use some of the $105 billion wants to include in Phase 4 for schools for testing. Another reverse, Trump gives up on payroll tax holiday, saying Democrats won’t go along.
- Trump talks to Putin on the telephone, discussed pandemic and upcoming Vienna arms control talks. Readout has no mention of alleged Russia-Taliban kill bounties.
- On the virus front, U.S. crosses another threshold as confirmed cases top 4 million. Deaths 143,722 (NYT tracker).Fla. counts 173 deaths, a new high for any day and the same as Texas, where the daily record was set Wednesday. CDC projects 175,000 deaths by Aug. 15.
- Major league baseball returned Thursday night with NIH’s Fauci throwing the first pitch at Nationals’ game in D.C. – no fans in the stands.
- On China, the country’s chief tweeter, Global Times editor Hu Xijin, says retaliation for the closing of its Houston consulate to be announced Friday. Country launches its rover to Mars, arrival in seven months. Caixin: threatens to reject UK passports in Hong Kong.
- Congress’s fourth day back in town and negotiations on Phase 4 with House Democrats, the main event, still not begun in earnest. Republican proposal to be unveiled early next week. Evictions pause expires shortly. Enhanced unemployment benefits stop in eight days.. Ann Taylor/Lane Bryant latest retail bankruptcy.
- Upcoming data: Friday’s Markit composite index 9:45a ET. New home sales 10a. Thursday’s latest weekly initial jobless benefit claims showed a 109,000 increase when seasonally adjusted, a decrease unadjusted. Seasonals blamed for some fuzziness but 1.42 million more new claims showing recovery not evident. Monthly jobs report still two weeks away.
- Hurricane Douglas expected to weaken somewhat as its winds begin to rake Hawaii Saturday night.
—
Stories may appear first or exclusively on the Mace News premium service. For real-time email delivery contact tony@macenews.com. Twitter headlines @macenewsmacro