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The ceasefire between the United States and China has set off a huge celebration on Wall Street.The Dow soared about 400 points at Monday's opening bell after China and the United States reached a temporary trade truce. It's a big relief because the damaging trade war between the world's two largest economies was set to deepen in January.The Nasdaq and the S&P 500 climbed more than 1% apiece."A truce is definitely better than an escalation of hostilities," Kit Juckes, strategist at Societe Generale, wrote to clients on Monday.Juckes said that even though investors may doubt the substance of the US-China agreement, "this morning's response reflects relief and a desire to pick up some last-ditch bargains."The relief rally comes after the S&P 500 spiked nearly 5% last week, its best since December 2011. That rebound was triggered by hopes of progress on the trade front and a speech by Federal Reserve chief Jerome Powell that investors interpreted as a signal the central bank will not rush to raise interest rates."The China trade situation is the keystone in the arch of agita," said Sam Stovall, chief investment strategist at CFRA Research.The progress on talks with China means "now we have a very good chance of experiencing a Santa Claus rally," said Sam Stovall, chief investment strategist at CFRA Research.It wasn't just US markets celebrating. Major indexes in Hong Kong and Shanghai surged more than 2.5%. And markets in London, Frankfurt and Paris climbed 2%. Commodities also raced higher. Copper and soybeans rallied. US oil prices, boosted by hopes of an agreement by Russia and Saudi Arabia to cut output, surged 4%.After meeting on Saturday, US President Donald Trump and Chinese President Xi Jinping agreed to hold their fire on tariffs while they try to reach a trade deal. Trump agreed not to raise the 10% tariffs on 0 billion worth of Chinese goods for now. Those tariffs had been scheduled to automatically rise to 25% on January 1. And China said it would be willing to purchase a "very substantial" amount of agriculture, energy and other US products.Still, some analysts warned that the celebration on Wall Street could be short-lived. China and the United States now only have 90 days to sort out nagging trade issues that have been in contention for years, if not decades. And the statements that emerged from the trade meeting lacked concrete details."The beefiest part of Saturday evening's meeting between Presidents Trump and Xi may well have been the local sirloin served for dinner," Nicholas Colas, co-founder of DataTrek Research, wrote to clients on Monday.Goldman Sachs economists said the most likely outcomes are that the truce gets extended after 90 days or that the trade war escalates. The investment bank sees just a 20% chance over the next three months of a comprehensive deal rolling back tariffs."The specter of higher and broader US tariffs remains," Goldman Sachs chief US political economist Alec Phillips wrote to clients on Sunday. 3014

The FBI says a British socialite who was accused by many women of helping procure underage sex partners for Jeffrey Epstein has been arrested in Bradford, New Hampshire.The FBI said Thursday that Ghislaine Maxwell was taken into custody at around 8:30 a.m. on charges related to the Epstein scandal.Epstein killed himself in a federal detention center in New York last summer while awaiting trial on sex trafficking charges.Maxwell was accused by many women of recruiting them to give Epstein massages, during which they were pressured into sex. She's been charged with four counts relating to sex trafficking and two counts of perjury.During a press conference Thursday, Acting Attorney for the Southern District of New York Audrey Strauss thanked the victims who came forward to authorities. She said that without their help, they would not be able to charge Maxwell.Strauss also urged Prince Andrew to speak with investigators and cooperate with the ongoing investigations into Epstein and Maxwell. The British royal was known to be friendly with Epstein during the time abuse occurred and has described their relationship as a friendship. He even stayed at Epstein's New York apartment in 2010, two years after Epstein was convicted of sex crimes.Maxwell has repeatedly denied wrongdoing and called some of the claims against her "absolute rubbish." 1361

The fine print of newly released federal guidelines for reopening schools raises serious questions about whether in-person classes should resume at a time when COVID-19 rages around much of the country.Last week, the Centers for Disease Control and Prevention (CDC), under pressure from the White House, released a position paper highlighting “the importance of reopening America’s schools this fall.”But separate guidelines issued for K-12 school administrators, which drew less public attention, are much more cautious.“It is important to consider community transmission risk as schools reopen,” those CDC guidelines state.“Computer simulations from Europe have suggested the school reopenings may further increase transmission risk in communities where transmission is already high.”Buried at the bottom of the new CDC recommendation to re-open schools is a HUGE caveat! #COVID19 poses a low risk to kids “at least in areas with low community transmission.” That’s not where much of the country stands right now. 4/ pic.twitter.com/0D5CPxhlIb— Phil Williams (@NC5PhilWilliams) July 25, 2020 The new CDC guidelines suggest, “If community transmission levels cannot be decreased, school closure is an important consideration.”“Plans for virtual learning should be in place in the event of a school closure.”In Tennessee, several public and private schools are preparing to reopen even as almost every county in the state is showing what the Department of Health considers to be unacceptable rates of transmission of the coronavirus.Last week, the American Academy of Pediatrics issued a dramatic clarification of its statement back in June that "all policy considerations for the coming school year should start with a goal of having students physically present in school.""This does not mean that we recommend that all schools open five days a week from the start of the school year," the academy’s Dr. Sean O'Leary told a congressional committee.“Many parts of the country are currently experiencing uncontrolled spread of COVID-19. While the AAP urges those areas to make in-person learning as the goal, we recognize that many jurisdictions will need to utilize distance learning strategies until cases decline."The vice chair of the academy's committee on infectious diseases, O'Leary told the subcommittee that, where there is uncontrolled community transmission, "it's inevitable that the virus is going to get into the schools, and schools are going to have to shut down."U.S. Surgeon General Jerome M. Adams also told CBS This Morning last week that a community's COVID-19 transmission rate is the single most important determinant of whether schools can safely reopen.School reopening advocates point to the emotional, psychological and educational importance of children being in the classroom – a position that the CDC guidelines reaffirm.“Schools provide safe and supportive environments, structure and routines for children, as well as other needed support services to children and families,” the CDC notes.Children are less likely to become ill when infected with the virus, and younger children are less likely to transmit the virus to others, the report adds.But a large-scale study out of South Korea recently reported that children ages 10-19 -- middle- and high-school ages -- can spread the virus as easily as adults.Also, in searching citations in the new CDC recommendation to re-open schools, it appears to completely leave out the large-scale South Korea study that found teens are likely to spread #COVID19 as readily as adults 5/ https://t.co/ABLPvpKQU5— Phil Williams (@NC5PhilWilliams) July 25, 2020 In addition, a new study – shared by the Tennessee Department of Health last week on Twitter – concluded that “young, previously healthy adults can take a long time to recover from COVID-19.” 3828

The Commission on Presidential Debates announced that they've officially canceled the Oct. 15 debate between President Donald Trump and Democratic presidential nominee Joe Biden.In a press release, the commission stated that since both candidates made different arrangements for Oct. 15, the commission will focus on the third and final presidential debate, which is slated for Oct. 22."Subject to health security considerations, and in accordance with all required testing, masking, social distancing, and other protocols, the debate will take place at Belmont University in Nashville, Tennessee," the commission said in the press release.The move to a virtual debate was as a precaution since Trump tested positive for COVID-19 last week.Trump was airlifted to Walter Reed Medical Center last Friday and then discharged from Walter Reed on Monday.According to the Associated Press, The White House has been mum about releasing any information as to when the president last tested negative for the virus.Trump told Fox Business that he would not "waste his time" with a virtual debate.CNN reported that because of Trump backing out and Biden agreeing to do a town hall with ABC, the commission didn't see the Oct. 15 debate likely happening.NPR reported that another reason behind the cancelation was because the Trump campaign and the commission couldn't agree on safety protocols.The Oct. 22 debate will be divided into six 15-minute segments. NBC News' Kristen Welker, who will be serving as the moderator for the debate, will announce the topics sometime next week.Both candidates have agreed to participate in the Oct. 22 debate, the commission noted. 1665

The decision to forego local bubbles was jointly recommended by NFL and NFLPA medical experts based on COVID testing data. They’re happy with the numbers and sticking with what works. Here’s the full memo, which also updates return to play protocols, etc. pic.twitter.com/GQxF0IF3jt— Tom Pelissero (@TomPelissero) December 15, 2020 345