Pelosi says "just about there" on agreement after Trump says doesn't see deal with Democrats on COVID-19 relief
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump and his administration with this weekly recap compiled by The Fly:
1. COVID-19 RELIEF: President Trump said in a series of tweets on Wednesday that he doesn't "see any way" that House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer "will be willing to do what is right for our great American workers, or our wonderful USA itself, on Stimulus."
However, Speaker Pelosi said on Thursday that she was "optimistic" in reaching a stimulus deal with Republicans. Further, Pelosi said that they were "just about there" on a stimulus agreement and "hoping" for a deal before the election.
On Friday, Treasury Secretary Steve Mnuchin told reporters at the White House that, "We've offered compromises. The speaker, on a number of issues, is still dug in. If she wants to compromise, there will be a deal." Talks between Pelosi and Mnuchin were at a standstill toward the end of this week, Bloomberg pointed out around the time of Mnuchin's comments.
2. GOOGLE SUED OVER MONOPOLY CLAIMS: On October 20, The U.S. Attorney General and eleven individual state Attorneys General filed a legal action under Section 2 of the Sherman Act, seeking to "restrain Google LLC from unlawfully maintaining monopolies in the markets for general search services, search advertising, and general search text advertising in the United States through anticompetitive and exclusionary practices," as has been widely telegraphed by media reports. In response, Google Public Policy (GOOG) said via Twitter, "Today's lawsuit by the Department of Justice is deeply flawed. People use Google because they choose to -- not because they're forced to or because they can't find alternatives."
Afterwards, TripAdvisor (TRIP) CEO Stephen Kaufer, a longtime critic of Alphabet's Google, commended the Justice Department's move to file an antitrust lawsuit against the search giant over allegedly unlawfully maintaining a monopoly, reported CNBC's Seema Mody.
Jefferies analyst Brent Thill reported that the firm surveyed 1,000+ consumers and found 71% of them would take the extra steps to use Google Search even if it was removed from all their mobile and desktop devices, which he sees as evidence of "the overwhelming preference" for and trust in the quality of Google Search results. The analyst, who sees little harm to consumers and limited impact to Google over time from antitrust investigations regarding its search dominance, has a Buy rating and $1,850 price target on shares of Google parent Alphabet.
3. COVID TESTING: The HHS said in a statement on Monday that, "Starting today, communities that are part of the federal surge testing effort for COVID-19, supported by the Trump Administration, have a new option: a test that uses samples of saliva collected by spitting into a sterile container. Made by Fluidigm [FLDM] and supported in part by the National Institutes of Health, the easy-to-use saliva test detects SARS-CoV-2, the virus that causes COVID-19, on a molecular level using a microfluidics platform. The accuracy of the test is comparable to other molecular-level tests of nasal swab samples, according to a clinical study conducted by the manufacturer.
"The U.S. Department of Health and Human Services has traditionally provided nasal swab tests from other manufacturers to surge testing sites, which remain a choice for community officials. Waco, Texas, is the first community to offer saliva testing for COVID-19 through the federal Community-Based Testing Site program starting October 16."
Since the surge testing site program launched in July, 362,000 tests have been conducted at surge testing sites in 10 states and 21 localities. The Fluidigm saliva test is authorized for use by qualified and trained clinical laboratory staff through emergency use authorization from the FDA granted August 25, 2020. Results are available via email within 3 to 5 days. HHS has shipped 10,000 Fluidigm saliva tests to select Waco, Texas sites.
"Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.
Keywords: Week in Review, Trump, politics, social media, COVID, COVID-19, coronavirus, pandemic