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The Dow Jones Industrial Average traded above 30,000 points for the first time Tuesday.The crest came as investors were encouraged by the latest progress on developing coronavirus vaccines and news that the transition of power in the U.S. to President-elect Joe Biden will finally begin.Traders were also encouraged by news that Biden had selected Janet Yellen, a widely respected former Federal Reserve chair, as treasury secretary.The Dow rose more than 400 points, or 1.4%, to trade just over 30,000 midday Tuesday. The S&P 500 index, which has a far greater impact on 401(k) accounts than the Dow, rose 1.3%.Shortly after the Dow crested, President Donald Trump delivered remarks at the White House, congratulating his administration and the people of the U.S.“The stock market has just broken 30,000, never been broken, that number, that’s a sacred number, 30,000. Nobody thought they’d ever see it,” said Trump. “That’s the 9th time since the beginning of 2020 and it’s the 48th time that we’ve broken records during the Trump administration. And I just want to congratulate all the people within the administration that work so hard. And most importantly, I want to congratulate the people of our country, because there are no people like you.”Like others, Trump attributed the success of the stock market to the promising news that multiple vaccines are proving to be effective and headed for FDA approval.“Despite everything that’s taken place with the pandemic, I’m very thrilled with what’s happened on the vaccine front,” said Trump. “That’s been absolutely incredible. Nothing like that has ever happened medically and I think people are acknowledging that and it’s having a big effect.”Trump, who often speaks for long periods of time and has sparred with the media in the past, kept Tuesday’s remarks short and didn’t take questions as reporters asked him why he hasn’t conceded to Biden for the good of the country.Watch the president’s remarks below: 1979
The Food and Drug Administration on Wednesday authorized the first rapid coronavirus test that doesn’t need any special computer equipment to get results.The 15-minute test from Abbott Laboratories will sell for , giving it a competitive edge over similar tests that need to be popped into a small machine. The size of a credit card, the self-contained test is based on the same technology used to test for the flu, strep throat and other infections.It’s the latest cheaper, simpler test to hit the U.S. market, providing new options to expand testing as schools and businesses struggle to reopen and flu season approaches. The FDA also recently greenlighted a saliva test from Yale University that bypasses some of the supplies that have led to testing bottlenecks.Both tests have limitations and neither can be done at home. Several companies are developing rapid, at-home tests, but none have yet won approval. Abbott’s new test still requires a nasal swab by a health worker, like most older coronavirus tests. The Yale saliva test eliminates the need for a swab, but can only be run at high-grade laboratories.And in general, rapid tests like Abbott’s are less accurate than lab-developed tests. The FDA said in a statement announcing the decision that negative results with Abbott’s test may need to be confirmed with a lab test in some cases. The agency granted Abbott’s test an emergency use authorization late Wednesday for patients with suspected COVID-19.The two additions should help expand the number of available tests. The U.S. is now testing about 690,000 people per day, down from a peak of 850,000 daily tests late last month. Many public health experts believe the country will soon need to test vastly more people to find those who are infected, isolate them and contain the virus.The FDA noted that Abbott’s test could be used in a doctor’s office, emergency room or some schools. “Given the simple nature of this test, it is likely that these tests could be made broadly available,” the FDA said.Since the start of the pandemic, nasal swab tests that are sent to a lab have been the standard for COVID-19 screening. While considered highly accurate, the tests rely on expensive, specialized machines and chemicals. Shortages of those supplies have led to repeated delays in reporting results, especially during a spike in cases last month.Government and health experts view rapid tests that can be run outside the laboratory system as key to boosting capacity.“Those screening tests are what we need in schools, workplaces and nursing homes in order to catch asymptomatic spreaders,” said Dr. Jonathan Quick of the Rockefeller Foundation, in an interview earlier this month. The nonprofit group has called for the U.S. to conduct about 4 millions per day by October, mostly rapid, point-of-care tests.Abbott’s BinaxNOW is the fourth rapid test that detects COVID-19 antigens, proteins found on the surface of the coronavirus, rather than the virus itself. It’s considered a faster, though sometimes less precise, screening method. The other tests need to be inserted into a small machine.Inside the Abbott test is a specially coated strip that interacts with COVID-19 antigens. The patient’s nasal swab is inserted into the card and a few drops of a chemical solution are added. Markings appear on the card to indicate whether the sample is positive or negative — much like a pregnancy test.Two other makers of antigen tests — Quidel and Becton Dickinson have said they haven’t been able to meet demand for the tests. A third, LumiraDx, plans to begin shipping its recently approved antigen tests by the end of this month. Abbott expects to begin shipping tests in September, reaching 50 million tests a month in October.The influx of antigen tests will go a long way toward meeting the Trump administration’s projection that 90 million COVID-19 tests a month will be available by September if needed. But U.S. “testing czar” Adm. Brett Giroir has stressed that the U.S. can contain the outbreak with far fewer tests.“That’s the capacity ... we do not need that many tests to safely and sensibly reopen,” Giroir told reporters on a recent call. He pointed to several key indicators that have been falling, including new infections and hospitalizations, even as testing has slowed.Earlier this month, the FDA authorized Yale’s saliva-based test, which is expected to cut the time and cost compared with similar tests. It’s the fifth COVID-19 saliva tests OK’d by regulators. All require lab processing.Developed by Yale’s School of Public Health, SalivaDirect can use any sterile container to collect a sample, not the special tube needed with earlier tests, and requires less chemicals. Outside experts welcomed the new approach but noted its limitations.“It’s not a rapid test, it’s a laboratory-based test that will still be prone to the same massive delays as any other test,” said Dr. Michael Mina of Harvard University.___Follow Matthew Perrone on Twitter: @ AP_FDAwriter.___The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education. The AP is solely responsible for all content. 5201

The global pandemic has changed what “work” looks like for millions of people, and those changes could become permanent, according to workplace and hiring experts.In a report from Glassdoor looking at job trends in 2021 they remind people that moments of crisis, like the coronavirus pandemic, can present risks and opportunities.Some companies have already announced long-term work-from-home opportunities, are embracing mental health and culture-building initiatives, and are scaling back in-person meetings and positions that are in-person focused.Part of the report focused on jobs Glassdoor predicts will either not exist or will be drastically different in the future because of the pandemic.In 2021, lower-skilled service jobs, education jobs, administrative office roles, sales roles and discretionary healthcare jobs could start disappearing. These findings are based on job listings from October 2019 to October 2020, and noticing trends of decreasing job postings during the pandemic that do not show signs of bouncing back.Some of those jobs specifically include beauty consultants, valets, pet groomers, event coordinators, executive assistants, receptionists, sales product demonstrators, product or brand ambassadors and even sales managers.In education, the higher ed system “is facing an overwhelming financial crisis due to falling enrollment and mandated campus closures, and these jobs may not return for a long time.” That includes college professors and instructors, according to Glassdoor.In healthcare, while frontline workers like doctors and nurses are in high demand, other positions are not as some health needs are being postponed or canceled altogether. Jobs for audiologists, opticians and physical therapists are all down.They do predict that jobs like nursing, warehouse worker and e-commerce sector jobs will continue to increase in number in 2021.This lines up with a recent report from the World Economic Forum that predicted about 85 million jobs around the world would become obsolete by 2025 because of the rapid change to automation and remote work during the pandemic.The WEF report also focused on jobs that will rise in the wake of the pandemic. According to the report, by 2025, roles and jobs that leverage human skills will rise in demand.Machines will primarily be focused on information and data processing, administrative tasks and routine manual jobs.The WEF says emerging professions in the next several years will be in data and artificial intelligence, content creation and cloud computing. They also say employers will be looking for these top skills among their employees: analytical thinking, creativity and flexibility.The report from Glassdoor also looked at workplace benefits and initiatives that employees will begin to expect from an employer post-pandemic and how salaries could be impacted by permanent work-from-home changes. 2898
The FBI and Toledo, Ohio police are searching for a suspect in an armed bank robbery who was mistakenly released from jail earlier this week.According to the FBI, Don Woodson Ellis Jr. allegedly robbed a bank in Toledo on Monday and was arrested and held at the Lucas County Corrections Center. He was mistakenly released on Wednesday night around 10:30 p.m.At the time, he was wearing a black t-shirt, light blue shorts/jeans to the knee and white tennis shoes with dark laces.He was using the name Antwon Moore at the time of the departure from the jail. He is also considered armed and dangerous.The Lucas County Sheriff's Office said Ellis "used deception" to be released back into the community.According to the FBI, he could be in Michigan given his previous criminal record which includes pleading guilty to bank robbery and fleeing/eluding police in Monroe County.Ellis is described as a black male, 28 years old, 6-feet tall weighing 150 pounds. 983
The Food and Drug Administration approved on Wednesday a treatment for the Ebola virus. This is the first FDA-approved treatment for Zaire ebolavirus infection in adults and kids.Zaire ebolavirus is one of four Ebola virus species that can cause potentially deadly infections. It is transmitted through direct contact with blood, tissue or body fluids of an infected person or wild animal.The treatment, Inmazeb, is a mixture of three monoclonal antibodies and was created by Regeneron Pharmaceuticals. The three antibodies work together to bind to the glycoprotein on the surface of the Ebola virus and block it from entry into the body’s cells.Inmazeb was tested in the Democratic Republic of the Congo during an Ebola virus outbreak in 2018-2019 through a partnership between the local government and the National Institutes of Health.A vaccine for Ebola virus was approved by the FDA in December 2019.Regeneron is also the company behind an experimental antibody cocktail that was given to President Donald Trump following his diagnosis of COVID-19, and which he said “cured” him. Trump was also prescribed the antiviral drug remdesivir and the steroid dexamethasone at the time.Regeneron’s COVID-19 treatment is a mix of two powerful antibodies that are believed to boost the immune response to the coronavirus. Early results seem promising, according to initial tests and a press release from the company.The company has submitted an application to the FDA to get emergency approval of their COVID-19 treatment. 1525
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