New York City, Bloomberg, Charlie Pellets discussed on Bloomberg Businessweek
At Bloomberg Quick Take This is a Bloomberg Business Black World Headquarters. I'm Charlie Pellets, stocks were slipping his traders way. A conflict between the White House and the Fed over emergency lending programs, along with assurances of the government's got plenty of room to help the economy. Right now, the S and P is lower little change down nine. That's a drop of about 2/10 of 1% on track for losing week. Looks like we're gonna have a loss this week of roughly 3/10 of 1%, depending on how things shake out in the next couple of hours. We've got the 10 year. The yield of 100.82% gold is up 4/10 of 1%, 18 73, Beyonce and crude West Texas Intermediate up 1% 42. 18 a barrel again. Recapping equities air trading mixed NASDAQ higher by 11 Up 1/10 of 1% s and P lower bite through 2/10 of 1%. The Dow was down 5/10 of 1%. I'm Charlie Pellet. That's a Bloomberg business Flash. All right, Charlie. Thank you so much really appreciate it. So a ton of virus headlines. Today we had New Jersey's health commissioner. Saying she expects the state to get a coven 19 vaccine in late December. We have said Roche being able to deliver its anti body treatments in the first quarter. 2021 We just talked about The strain on hospitals that we're seeing the number of U. S hospital beds occupied by Coven 19 patients rising this week to the highest since April, and if you look overseas Canada, England, Austria. Also seeing some stress is it's been a rough day. Rough week when it comes to the virus Joining us as he always does every Friday and grateful that he does is Dr Ian Lost Vader. He is clinical associate professor of medicine at N. Y. U And why you Lango Medical Center. He's on the phone in New York City and good to have you back with us. How's it going? We said pleasure, Carol. Happy Friday. Yeah, Thanks. Thanks. You're going. Okay. Um, you know, we're seeing a lot of regular patients, and certainly a lot of covert follow up patients. Um, the number of cases in New York so far is or the number of hospitalizations. I should say it's not skyrocketing. So I think based on Anybody positivity, which is estimated about 20% and kind of our rough or rough go in March and April, although cases are up and hospitalizations are up. It's certainly not thank goodness overwhelming the system here, so I think the Midwest And out. West is having definitely more of a challenge than we are, and we'll just have to see how you know how we do with that. What do you make Doctor? Less better of kind of the rolling back. We're seeing it with New York City schools, you know, sending kids back home to do virtual learning? We're starting to see rolling back in terms of the bars, but I still have surprised that things are even kind of open in that front. What makes sense to you what doesn't what needs to be done right now, In your view. So I think part of it. Increased case positivity, which is really what they're basing, you know, Closing the schools on maybe, uh, incorrect or may be misleading And I think Every state has a different threshold, So it's not like there's a certain standard of when you need to think about doing these things and really how even effective they are. I think politicians sometimes feel they have to do something. When really, sometimes that that thing is not really the best. We are doing a lot of testing. I'm seeing many of my patients. Reader, visiting or potentially traveling or just curious. And so there are a large number of tests being ordered you the swabs of the answer, Jin test. I'm seeing a lot of false positives. So initially, someone may go for a nasal swab in Auntie Gin. You know, we know no test is 100% accurate, Then they get a follow up piece. Your test. That's negative, So I think we have to be very careful with this. Positivity rate as a threshold, and I think the data about closing schools and certainly elementary schools really supports keeping them open for a variety of reasons for the kid's education for their mental health for the parents, mental health, Um and so I think we are jumping the gun here incorrectly in closing schools. Ah, you couldn't argue. Perhaps high schools were were does seem to be a little more communicable eyes in the elementary schools. And I think the whole concept here of closing bars at 10 P.m. also is is her is very confused. You know the virus doesn't say who? It's 9 59. I better go in. So you know when you think about it What we really want to do is discourage potential super spreader events like bars or gyms or where people are shouting encouraged people to sit outside. I think people can safely outside with heaters, eat and drink. On. I think the school should remain open unless there really is. Or or an outbreak in that specific school of a higher number of cases, So I think it should really the individual. What do you think about? What do you think about kids coming home from college for the holiday? So you could because, you know, I'm sure you've been watching the numbers and then and I know we report on it. But, you know, I feel like I want to know. It doesn't sound like we've had, you know, isolated cases of this school in that school, But for the most part, it seems like it's gone fairly. Well, Yes, you know, I think it varies from school to school. There are schools University of Michigan, where they really did have to restrict any in person classes because it was rampaging through Right through the campus, Vanderbilt under control, and that's not the point at one school or another. I mean, that could be based on a lot of factors, but those kids get tested on a weekly basis, and I think they have a much better handle on things. I do think ideally of kids can get tested in school before they come back, and if they're negative, I think that would be a lot more reassuring. We do anticipate a Thanksgiving bump based on traveling and kids coming back. Families getting together. You know there there is a risk and we know the cases are increasing, and they're probably going to go up a little bit more within a week or two after Thanksgiving. Just based on people returning home. Yeah, exactly. No, it's you know, it's interesting. I've been watching. Kind of, you know, talking to different parents and what schools are doing and I've been very lucky, my my daughter's school, They kind of shut things down ahead of Thanksgiving and said You're going to stay home for a week after Thanksgiving, and you gonna have to take a test before you come back, You know, because because we all understand there are going to be people who are, unfortunately to still kind of get together on mouse. One thing I want to ask you and then we'll do a break and come back, but I got about 45 seconds. The task force the White House Coronavirus task Force meeting again making some comments. What was the significance of that? In your view? I mean, important to keep America up to date, but I just wonder what your takeaway was. I think it is important to try to answer questions. I know there was a little bit of a hullabaloo about announcements Overall. I think we have positive information with the vaccines. I think there is still some questions from Desert here and other other issues that have come up is outlined in Bloomberg. We can talk about that on the second part, but but I think updating people is good. But you have to do follow up questions. All right, and we are gonna get into room disappear. You set me up really, really nicely. We're gonna come back with Dr Ian lost Vader. He is clinical associate professor. Medicine at N. Y. U Lango Medical Center, joining us once again on the phone in New York City,.