Stocks rose Wednesday on promising new COVID-19 vaccine data from Moderna Therapeutics, although much of the optimism is outpacing the science.
Axios Re:Cap digs into what Moderna said, what it didn't say, and what comes next in the vaccine race with Richard Besser, former acting director of the CDC and current CEO of the Robert Wood Johnson Foundation.
Why it matters: The figure represents a new record for the U.S. and follows 2018's slight drop in overdoses — the first time the number had gone down in almost 30 years.
The Houston and San Francisco public school districts announced Wednesday they will begin the 2020 fall semester online due to the ongoing threat of the coronavirus.
Why it matters: There are over 60,000 students in San Francisco schools and 216,000 in Houston, which is the largest public school district in Texas and the seventh-largest in the U.S.
Eight world leaders called on the international community in a Washington Post op-ed Wednesday to ensure that people across the globe have equal access to a future vaccine for the coronavirus.
Why it matters: Global demand for a successful vaccine is expected to skyrocket, which could send nations racing to obtain a supply while international organizations scramble to secure equitable access for all countries.
The 2021 Rose Parade on New Year's Day has been canceled due to the coronavirus pandemic, the Pasadena Tournament of Roses Association announced Wednesday.
Why it matters: The last time the Rose Parade was canceled was in 1945 because of World War II. The announcement, almost a half a year in advance, also comes as California Gov. Gavin Newsom ordered the state to roll back its reopening amid a surge of cases.
139 clients were exposed to two symptomatic hair stylists with COVID-19, but face coverings on both the stylists and customers resulted in no reported secondary cases, a study released Tuesday from the Centers for Disease Control and Prevention shows.
Why it matters: The masks prevented what could have been a major outbreak in Springfield, Missouri, in an industry that's mostly been able to reopen across the U.S.
Anthony Fauci told The Atlantic on Wednesday that efforts by certain White House officials to discredit him are "bizarre" and that it "ultimately hurts the president" to undermine a top health official in the middle of a pandemic.
Driving the news: Fauci's comments come on the heels of a USA Today op-ed by White House trade adviser Peter Navarro, who claimed that Fauci has been "wrong about everything" related to the coronavirus that the two have interacted on. Fauci told The Atlantic: “I can’t explain Peter Navarro. He’s in a world by himself.”
Mint Event Design founder Carolina Villarreal said she had to find new ways to serve her clients when the coronavirus pandemic struck.
What she's saying: Villarreal said at an Axios virtual event on Wednesday that she created custom kits for clients to decorate their own homes. She used social media to spread the word about the shift in her business, bringing traffic to her website.
Austin, Texas, Mayor Steve Adler cautioned states against loosening restrictions meant to stem the spread of coronavirus without having proper measures in place, at an Axios virtual event on Wednesday.
The big picture: Adler called on jurisdictions to "be innovative and adaptive and creative" when they reopen, to ensure people's safety.
Canceling the South by Southwest festival was "horrible," but necessary, as the coronavirus began to spread through the United States, Austin, Texas, Mayor Steve Adler said at an Axios event on Wednesday.
The big picture: The popular film, music and technology event attracts more than 400,000 attendees annually to the city's downtown. It was scheduled to take place March 13–22 before it was moved to an online format. The cancellation cost Austin $350 million in revenue, Adler said.
Alabama's Republican Gov. Kay Ivey issued a statewide mask mandate on Wednesday as coronavirus cases continued to soar across the South, saying at a press conference: "We're pleading with the people of Alabama to wear a mask."
Why it matters: Alabama has reported more than 56,000 coronavirus cases and over 1,100 deaths, with more than 2,000 new infections reported on Tuesday. Approximately 30 Alabama hospitals have limited or no ICU beds available, and only about 12% of ICU beds are available statewide, according to state health officer Scott Harris.
Oklahoma Gov. Kevin Stitt (R) announced on Wednesday he has tested positive for the coronavirus and will self-isolate, Tulsa World reports.
Why it matters: The 47-year-old Stitt is believed to be the first governor in the U.S. to test positive. He attended President Trump's rally in Tulsa last month, which the county's health department director said likely contributed to a surge in cases in the region.
UnitedHealth Group registered more than $6.6 billion in profits in the second quarter — by far the conglomerate's highest quarterly profit ever, according to an analysis of company financial data from FactSet.
Why it matters: Most companies struggled in the second quarter as the coronavirus pandemic froze the economy, but health insurers like UnitedHealth heavily benefited as people held off on going to the doctor or hospital, resulting in fewer medical claims that needed to be paid.
Walmart will require all customers to wear face masks beginning next week in all of its 5,000 company-owned stores, in addition to its Sam's Club locations, the company announced Wednesday.
Why it matters: Walmart is the largest retailer in the U.S. and the latest in a string of national chains — including Costco and Starbucks — to mandate masks for customers.
The White House said Wednesday that a USA Today op-ed by economic adviser Peter Navarro attacking Anthony Fauci "didn’t go through normal White House clearance processes."
Why it matters: In a normal administration, Navarro's actions would almost certainly result in his dismissal — but the White House did not immediately indicate any disciplinary action against him. It also further obscures the administration's support of Fauci, days after it put out a statement listing the times he was "wrong on things" in the coronavirus pandemic's early days.
The U.S. is doing almost as much testing as experts had predicted we'd need, and it's still far from enough given our enormous caseload — which the experts hadn't accounted for.
Driving the news: "In light of the ongoing spread of COVID-19 in states across the country, many labs are now receiving more test orders than they are able to process in a single day. We have urged ordering providers to prioritize testing for those most in need, especially hospitalized and symptomatic patients," Julie Khani, president of the American Clinical Laboratory Association, said in a statement Tuesday
Health care companies will start reporting second-quarter financials in earnest this week, showing how the coronavirus lockdowns and subsequent reopenings affected their businesses.
The big picture: Revenues almost certainly will be down for most companies, as the virus forced people to stay at home and led to fewer people getting surgeries and going to pharmacies. But that doesn't mean profits were eliminated, and Wall Street has already pumped health care stock prices back to where they were pre-pandemic.
The Trump administration is cutting the Centers for Disease Control and Prevention out of the process of collecting coronavirus data, The New York Times reports.
Why it matters: The new database will not be open to the public, according to the Times, and comes amid repeated efforts by the Trump administration to sideline the CDC.
The Trump administration announced Tuesday it will be ramping up testing at nursing homes in coronavirus hotspots using rapid point-of-care diagnostic test instruments.
Why it matters: The push to increase testing at nursing homes comes as many states, particularly in the Southern U.S., see a surge. Many nursing homes fell victim to the coronavirus pandemic as the virus spread among residents early on. More than 40% of U.S. coronavirus deaths were linked to nursing homes in mid-June.
