19 January 2021

1) President Trump and several of his key aids are preparing to move en masse to Florida this Wednesday just prior to the swearing in of Joe Biden as President. Trump plans to make his resident at his Mar-a-Lago estate. Staff members moving with the President are said to be White House press secretary Kayleigh McEnany and White House legislative aide Cassidy Hutchinson. Other aides who may work for Trump include Nick Luna, the director of Oval Office Operations and Molly Michael, a deputy assistant to Trump. Additionally, Luna’s wife, Cassidy Luna, a deputy assistant to the president, may work for the President’s son in law, Mr. Kushner.

2) There are fears that more than 90,000 Americans could die of Covid-19 in the next three weeks, with more than 38,000 Americans having died in the first two weeks of the new year from the pandemic. Presently, more than 130,000 people are hospitalized with the virus, with hospitals across the nation at or near the maximum capacity of their intensive care abilities. The US has added more than three million new infections since the start of the month. Mass vaccination centers are being opened. More than 30.6 million vaccine doses have been distributed, but only 11.1 million Americans have received their first dose, leading to out of date vaccine having to be thrown away. There are plans to press the large pharmacies chains into service to also give vaccinations.

3) Major labor unions are urging Speaker Nancy Pelosi and incoming Senate Majority Leader Charles Schumer to provide $1 trillion dollars in emergency funding for states, cities, towns and schools. All of these entities have heavy union representation whose members stand to benefit from the increased monies. It is unclear how spending of this money is suppose to stimulate the economy.

4) Stock market closings for – 18 JAN 21:

Dow 30,814.26 down by 177.26
Nasdaq 12,998.50 down by 114.14
S&P 500 3,768.25 down by 27.29

10 Year Yield: down at 1.10%

Oil: up at $52.19