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Stock markets bounced Tuesday morning after falling more than 1,000 points Monday in one of the largest drops since the economic shutdowns of the coronavirus pandemic. The S&P 500 stock index was up more than 60 points, or 1.3 percent, in Tuesday morning trading while the Dow Jones Industrial Average climbed more than 300 points and the Russell 2000 index of smaller U.S. companies jumped by 1 percent. Technology stocks continued to waver after Monday’s rout, though some were back in positive territory. Apple stock was down more than 3 percent while Nvidia stock jumped more than 4 percent and...

Asmall and preliminary study published Monday seems to indicate that patients receiving the drug Paxlovid are far more likely to experience Covid rebound than those who did not take it. That conclusion runs counter to previous statements by Pfizer, which makes Paxlovid, and by researchers at the Food and Drug Administration who have argued that while it is not uncommon for people with Covid to have symptoms reemerge after they seem to have recovered, it is not clear that Paxlovid increases the risk of this occurring.

Rochelle Walensky, director of the Centers for Disease Control and Prevention (CDC), has tested positive for COVID-19 again after completing a round of the coronavirus antiviral treatment Paxlovid. Walensky tested positive for COVID-19 earlier this month, going into isolation and taking “appropriate action” for her health. On Monday, the CDC said Walensky had experienced “mild symptoms” during her infection and eventually tested negative for the virus after completing a round of Paxlovid. “On Sunday, Dr. Walensky began to develop mild symptoms and has again tested positive. Consistent with CDC guidelines, she is isolating at home and will participate in her...

First Lady Jill Biden has caught a rebound case of COVID-19, just three days after leaving quarantine. Biden tested positive again Wednesday, her office announced, but she’s not showing any symptoms. She will stay in Delaware in isolation until she clears protocols again.

First lady Jill Biden tested positive for COVID-19 on Wednesday in a "rebound" case, her office said. Jill Biden, who is double vaccinated and twice boosted, was prescribed the antiviral treatment Paxlovid, which President Biden also took after testing positive last month. Like his wife, the president also suffered a rebound COVID-19 case.

Joe tested positive this morning

President Joe Biden has tested positive again for Covid-19, the White House said Saturday. His physician said he's not experiencing any symptoms, but that he will isolate at the White House. This is a breaking story and will be updated.

Fauci says he's taking 2nd course of Paxlovid after experiencing rebound with the antiviral treatment After testing positive for COVID-19 earlier this month, Dr. Anthony Fauci said Tuesday that he has joined a growing group of people experiencing a Paxlovid rebound, following treatment with Pfizer's antiviral. Fauci, 81, said that when he first tested positive two weeks ago, he had very minimal symptoms. However, when he began to feel worse, "given [his] age," he was prescribed Paxlovid.

The US economy added 379,000 jobs in February, far outpacing expectations amid a sharp drop in coronavirus infections that helped loosen the pandemic’s grip on the labor market. Hiring accelerated significantly last month after non-farm payrolls added 166,000 jobs in January amid a deadly surge in COVID-19 cases that led many states to impose new lockdown measures, the Bureau of Labor Statistics said Friday.

White House economic adviser Larry Kudlow said that, as America’s economy opens up, output in the third quarter could surge by 21.5 percent, which he said, if it materializes, would make it “the biggest growth quarter in American history.” Kudlow, speaking at a White House meeting Wednesday with the governors of Arkansas and Kansas, based his comments on revised economic estimates by the Congressional Budget Office, which predicted a second-quarter annualized contraction of 37.7 percent that the presidential adviser called a “predictably rough pandemic contraction.” As states have imposed restrictions on work and travel, the second quarter of 2020 has...

The President's approval rating has rebounded somewhat since our July poll. Following a series of disastrous weeks, Trump's approval numbers have moved up slightly, especially among his base and a few other sub-groups not known for their support of the president. On the heels of replacing key White House personnel, Trumps looks for a reset after 200 rather chaotic days in office. Recently, President Trump has talked tough to North Korea and has supported sanctions against the nuclear dictatorship, while also trying to reign in leaks coming out the White House. Trump's biggest support and other improvements came from his...

Wolf Richter www.testosteronepit.com www.amazon.com/author/wolfrichter From Federal-Reserve-fueled bubble to debilitating return to reality – reality being a financial calamity – to Federal-Reserve-hyper-fueled bubble: that’s the US housing market over the last ten years. There are many places around the country, including some cities in Silicon Valley, where home values are now higher than they were at the peak of the last bubble. Of course, no one at the Fed or in government calls it “bubble.” They’re talking about the housing “recovery.” But the excesses and speculators are back, and private equity funds and highly leveraged REITs are all over it, buying...

CHART OF THE DAY: The Housing Recovery Is Going Gangbusters Joe Weisenthal May 28, 2013, 9:18 AM We just got the Case-Shiller report showing house prices through March. The annualized gain of over 10% was the hottest reading since April 2006. Not only are home prices increasing, the recovery is accelerating.

Ohio has been called for Barack Obama. Iowa went for Obama. Colorado went for Obama. Florida and Virginia have not been called yet, but those don’t look good, either. The Romney camp is disputing the Ohio call. Karl Rove on Fox News says it’s not over. But the numbers don’t add up for Romney. He was close. Valiantly close. But not close enough. (Update 12:57am – Romney called Obama to concede and delivered a gracious concession speech.) The Romney/Ryan team fought well and hard, inspiring Republicans and conservatives across the country to get out the vote and fight for restoration...

Don't Count America Out By Eric Bleeker July 26, 2012 The storyline around America has taken a sudden, and to many, unexpected turn in the past couple months. Just two weeks ago, The Economist featured a cover with a shirtless Uncle Sam flexing with the words "Comeback Kid" above the muscle-bound American icon. This wasn't your father's Uncle Sam poster. This Uncle Sam had red, white, and blue pasties on its nipples. The new America seems to have an edge. The message behind that Economist cover? America has managed to come out of the recession with a leaner, more powerful...

U.S. stocks have risen in recent years but mainly due to the Federal Reserve's moves to stimulate the economy. The Fed may move again to prop up the country and stave off recession, but results will be weak and stock prices will plummet when the monetary sugar rush ends, said New York University economist Nouriel Roubini. Previous calls for U.S. gross domestic product growth of around 3 percent this year have been off, with forecasts being slashed. "The first-half growth rate looks set to come in closer to 1.5 percent at best, even below 2011’s dismal 1.7 percent," Roubini wrote...

The Housing market is likely to remain weak and may take a generation or more to rebound, Yale economics professor Robert Shiller told Reuters Insider on Tuesday. Shiller, the co-creator of the Standard & Poor's/Case-Shiller home price index, said a weak labor market, high gas prices and a general sense of unease among consumers was outweighing low mortgage rates and would likely keep a lid on prices for the foreseeable future. "I worry that we might not see a really major turnaround in our lifetimes," Shiller said. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.2 percent in February...

The Great Comeback No One Will Believe By Chris Mayer 02/29/12 Gaithersburg, Maryland – Something surprising stirs in the US economy. Something no mainstream pundit would’ve dared predict. Something most people probably won’t believe. US manufacturing is staging a comeback. Caterpillar, the world’s largest maker of earth-moving equipment, gave us some tangible confirmation in the latest earnings roundup. Based on the business it sees, Cat expects US construction spending will increase in 2012 for the first time since 2004. And Eaton, another large industrial, followed that up by saying it expects its markets to grow faster in the US in...

West Chester, Ohio (CNN) -- A defiant Herman Cain tried to turn the tables on his growing legion of critics and accusers Wedneday, blasting them for allegedly engaging in gutter politics and giving no indication of any immediate intent to abandon his embattled presidential campaign. "They have been trying to do a character assassination on me," Cain told an enthusiastic crowd in Ohio. "They are attacking my character, my reputation and my name in order to try and bring me down." "I don't believe that America is going to let that happen," he declared.

Rounding Up Another Week Of Great Economic Data New Deal democrat, The Bonddad Blog Nov. 26, 2011, 9:39 AM In the rear view mirror, second quarter GDP was revised down from 2.5% to 2.0%. The more forward looking durable goods orders declined for a second month, down -0.7%. Another leading indicator, the University of Michigan final consumer sentiment reading for November showed that consumer confidence has rebounded about halfway from its debt ceiling debacle collapse that began in July. Personal income was up 0.4%, while spending rose only 0.1%. The personal savings rate rose .2% to 3.5%. With the continuing...