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Coronavirus update: U.S. death toll tops 223,000; rural hospitals are filling and the Dakotas lead the nation by new infections – MarketWatch

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https://www.marketwatch.com/story/coronavirus-update-us-death-toll-tops-223000-rural-hospitals-are-filling-and-the-dakotas-lead-the-nation-by-new-infections-2020-10-23

Wuhan, Former Pandemic Center, Emerges as Tourist Hot Spot.

The U.S. death toll from the coronavirus disease COVID-19 rose above 223,000 on Friday, after the U.S. recorded its second-highest brand-new everyday case tally of more than 75,000 and data revealed more than 40,000 individuals are hospitalized, stretching resources in lots of rural areas.
NBC counted an even higher total, 77,640 brand-new cases based on their analysis, and said it was a record one-day tally. There are currently 41,010 Americans in medical facilities with COVID-19, according to the Covid Tracking Project, the highest level because Aug. 28. New cases are increasing at the fastest clip in the Dakotas and neighboring states, which some say are the outcome of the Sturgis Motorcycle Rally, an occasion cherished by cyclists that drew in a reported 500,000 to the small South Dakota town in August. At the time of the rally, lots of were filmed freely blending in bars, tattoo parlors and restaurants without wearing face masks or social distancing. While the full extent of the transmission rate from the occasion is uncertain, provided the failure to completely trace the contacts of bicycle riders who returned to house states across the country, the Washington Post said it counted more than 330 cases and at least one death straight connected to the rally, based on a survey of health departments in 23 states that supplied the paper with information. Read: Sturgis motorcycle rally in South Dakota in August connected to more than 250,000 coronavirus cases, study finds That number is understood to be a vast underestimation of the real tally, considering that asymptomatic spread often goes undetected and numerous bikers have not been evaluated. South Dakota has six out of 10 of the hot-spot counties in the U.S. recognized by the New York Times tracker. South Dakotas overall medical facility system is at about 65% capability, according to the state health of department. In North Dakota, hospitals are at 88% capability and in some areas, patients are being sent out away. The problem in rural locations is intensified by the fact that many healthcare facilities in remote areas have closed down over the last few years. Given that 2005, 174 rural medical facilities in the U.S. have actually closed, according to the Cecil G. Sheps Center for Health Services Research, a system of the University of North Carolina that tracks the information. Since 2010, 132 rural healthcare facilities have closed, the information programs. Dr. Esther Choo, an emergency clinic physician who practices at Oregon Health & & Science University in Portland, described the issue in an interview with MarketWatchs Jaimy lee. “Sometimes people drive in from backwoods 3 hours away,” she said. “its such a huge deal for them to get in. And if theyre getting sicker, the last thing they can do is hop in an automobile and drive themselves back and they do not have a relative who can bring them back. And were sitting there wondering, the complete observation period is to day 10. I do not have adequate healthcare facility beds to keep you. And yet Im anxious about sending you house, but the requirement of care is actually to strongly send people house.” On the medical front, Gilead Sciences Inc
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GILD, +0.66%.
won Food and Drug Administration approval for its Veklury COVID-19 treatment for patients who have been hospitalized with COVID-19 infections. The antiviral drug, previously called remdesivir, in early May received an emergency situation use authorization (EUA), which is a less rigorous type of regulatory authorization utilized during public-health emergency situations. Veklury is the very first COVID-19 treatment to get a full FDA approval during the pandemic and has actually been considered the standard of care when it comes to dealing with hospitalized patients because it got emergency situation permission. Read also: Dr. Zeke Emanuel states this is what it will take to totally resume the U.S. However, some medical professionals questioned the approval process, which follows a batch of mixed information for the drug. A World Health Organization study found the drug had no influence on survival– it does not stop individuals from passing away. At finest, it can reduce recovery times in hospitalized patients. Critics have also questioned why the FDA did not hold an advisory committee conference to discuss the risks and benefits of the drug. In the conventional FDA approval process, a group of independent medical professionals assemble for a public meeting to discuss experimental treatments before an FDA decision. They vote on whether the agency needs to approve a drug. The FDA isnt needed to follow the committees suggestion, but it frequently does. See: Trumps vaccine czar says the first vaccine ought to be submitted for emergency situation authorization around Thanksgiving In other news: – The EUs disease control firm alerted that transmission levels of COVID-19 in 23 member countries and the United Kingdom were now of “serious concern,” Agence France-Presse reported. All EU nations other than Cyprus, Estonia, Finland and Greece fall under that classification, according to the European Centre for Disease Prevention and Controls (ECDC) most current assessment, up from just 7 nations a month ago. “The continuing boosts in Covid-19 infections … present a significant danger to public health, with the majority of nations having a highly worrying epidemiological scenario,” ECDC director Andrea Ammon said in a declaration. – Spanish Prime Minister Pedro Sanchez stated Spains real overall of COVID-19 cases is above 3 million, pointing out projections from an across the country antibody research study, Reuters reported. Sanchez made the comment at a news rundown. The Johns Hopkins information presently reveals Spain with a bit more than 1 million cases. – Chicago Mayor Lori Lightfoot stated organizations will need to close down by 10 p.m. under a new curfew that aims to include the spread of the infection, CNN reported. The relocation is an effort to prevent “catastrophic” results later on, Lightfoot stated during a press conference. “This is a defining moment for us and is really going to determine what all of us experience for months to come,” stated Lightfoot. “Theres no other alternative. It doesnt exist.” The curfew goes into result Friday and will last for two weeks. Cook County, where Chicago is based, has the third-highest variety of verified cases of COVID-19 in the country at 170,039, the Johns Hopkins data shows, while 5,390 individuals have passed away. – The Czech Republics health minister is set to lose his task after he was photographed visiting a Prague dining establishment in a breach of emergency coronavirus guidelines he had actually put forward in an effort to win the countrys significantly desperate fight against coronavirus, the Guardian reported. Roman Prymula was photographed without a face mask– another breach of guidelines– getting into his ministerial automobile after leaving the Rio restaurant, the paper reported. The Czech Republic has 223,065 verified cases of COVID1-19, the Johns Hopkins data reveal, and a minimum of 1,845 individuals have actually passed away.

ITW,. +1.31%.
reported third-quarter earnings and revenue that fell, amidst the negative impacts of pandemic, but beat Wall Street expectations. Earnings declined to $582 million, or $1.83 a share, from $660 million, or $2.04 a share, in the year-ago period. The FactSet consensus for profits per share was $1.47. Profits fell 4.9% to $3.31 billion, but was above the FactSet agreement of $2.98 billion. Running margin declined to 23.8% from 25.0%, weighed down by lower volume and greater restructuring expenses. See also: Will Intels struggles be AMDs gains? Related: Intel stock plunges 10% after data-center sales drop more than expected – Mattel Inc
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MAT,. +11.88%.
reported financial third-quarter outcomes that blew past Wall Street quotes. Mattel reported earnings of $316 million, or 91 cents a share, compared with net income of $70.6 million, or 20 cents a share, in the year-ago quarter. Profits leapt 10% to $1.63 billion from $1.48 billion a year back. Experts surveyed by FactSet had expected net income of 39 cents a share on income of $1.465 billion. Mattel shares are down 4% this year as it continues to feel the impacts of the pandemic. – Socket Mobile Inc
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Check out now: Northern Italy sees revival of COVID-19 infections, with hospitalizations risingLatest tallies The number of validated cases of COVID-19 world-wide now stands at 41.9 million, Johns Hopkins information shows, and the death toll is 1.14 million. Brazil has the second greatest death toll at 155,900 and is third by cases at 5.3 million. India is second in cases with 7.8 million, and third in deaths at 117,306.

AXP,. -3.06%.
Profits fell 20% to $8.75 billion, due primarily to declines in card member costs in the middle of the pandemic, but topped the FactSet agreement of $8.66 billion. Provisions for credit losses declined to $665 million from $879 million. “Since the lows of mid-April, we have actually seen a steady recovery in our overall costs volumes,” said Chief Executive Stephen Squeri.

Whats the economy saying? The U.S. economy expanded in October at the fastest pace in 20 months, a brand-new study revealed, but companies acted carefully with coronavirus still spreading out and the governmental election possibly trigging a major shift in business guidelines, MarketWatchs Jeffry Bartash reported. See likewise: These are the stocks to brief when a COVID vaccine is all set, says JPMorganWhat are business saying?

BLMN,. -9.64%.
reported third-quarter losses that were narrower than anticipated during the pandemic. Profits of $771.3 million was below $967.1 million in 2015 but ahead of the $753.0 million FactSet agreement. U.S. similar sales at Outback Steakhouse were down 10.4%, Carrabbas Italian Grill fell 9% and Bonefish Grill sank 22.5%. Bloomin didnt furlough its workers throughout the first phases of the pandemic, a choice that David Deno, the businesss president stated was “settling.” “Across the U.S. portfolio, we experienced consistent weekly sales momentum throughout the 3rd quarter as we adjusted to this progressing environment,” he said, highlighting that the business had the ability to hold on to 50% of the off-premise volume it had when restaurants were closed even as dining-room reopening throughout the third quarter. Bloomin did not supply assistance due to the uncertainty of the pandemic. – Capital One Financial Corp
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U.S. comparable sales at Outback Steakhouse were down 10.4%, Carrabbas Italian Grill fell 9% and Bonefish Grill sank 22.5%. “Across the U.S. portfolio, we experienced consistent weekly sales momentum throughout the third quarter as we adapted to this evolving environment,” he said, highlighting that the company was able to hold on to 50% of the off-premise volume it had when restaurants were closed even as dining rooms resuming during the third quarter. Running margin decreased to 23.8% from 25.0%, weighed down by lower volume and greater restructuring expenditures. Mattel shares are down 4% this year as it continues to feel the impacts of the pandemic. Profits fell 17.5% from last year, but rose 51% from the 2nd quarter, to $4.1 million.

COF,. +1.62%.
reported third-quarter profit and sales above Wall Street expectations. “We are leaning in to durability and we continue to be well served by the choices we made before the pandemic,” founder and Chief Executive Richard D. Fairbank said in a statement. Capital One made $2.4 billion, or $5.06 a share, in the quarter, compared with $1.3 billion, or $2.69 a share, in the 3rd quarter of 2019. Adjusted for one-time items, the company made $5.05 a share. Sales rose to $7.4 billion from $6.7 billion a year earlier. Experts surveyed by FactSet expected adjusted EPS of $2.14 on sales of $6.7 billion. – Illinois Tool Works Inc
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SCKT,.
+90.95%,. The business said reported net income didnt include goodwill problems, since the business and its auditors didnt finish the yearly evaluation in time, pointing out uncertainties and complications associated the pandemic. Revenue fell 17.5% from last year, but rose 51% from the 2nd quarter, to $4.1 million.

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