Day in Review: July 29, 2020

A daily recap of major events and headlines affecting the market with individual investors in mind.

  • Quest says FDA cleared new ‘lab method’ that will cut coronavirus testing delays
  • Trump says U.S. is sending Texas 500 cases of remdesivir as coronavirus deaths hit record
  • U.S. Stocks Show Strong Move Back To The Upside As Fed Leaves Rates Unchanged
  • Most scientists think 60% to 80% of the population needs to be vaccinated or have natural antibodies to the coronavirus to achieve herd immunity.
  • JetBlue CEO warns of ‘day of reckoning’ for airlines as coronavirus continues to dent demand. “We are seeing in the U.S. volumes at 25 to 30% of what we would expect,” JetBlue CEO Robin Hayes told CNBC.
  • We’re running out of homes for sale,’ Lake Tahoe brokers say as tech workers flee Bay Area. A new wave of urban flight is reshaping real estate markets from New York to Chicago and Los Angeles to San Francisco As part of this shift, Lake Tahoe is seeing unprecedented bidding wars, buying activity and price increases.
  • U.S. goods trade deficit narrows amid signs the global flow of goods is improving. The United States’ trade deficit in goods fell sharply in June as exports rebounded following several months of decline, suggesting a recovery in global trade after being severely disrupted by the Covid-19 pandemic.
  • U.S. Pending Home Sales Spike More Than Expected In June. After reporting a substantial rebound in pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing another significant increase in pending home sales in the month of June.
  • Amazon Fraud Detector To Identify Potentially Fraudulent Online Activities. Amazon Web Services, Inc. or AWS, an Amazon.com company, announced Wednesday the general availability of Amazon Fraud Detector which enables businesses to quickly identify potentially fraudulent online activities like online payment and identity fraud in real time using machine learning.

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