E Market Review For Wednesday, August 26

At Israel's behest, Ukraine has barred foreign visitors to Uman, site of the grave of the founder of Chassidism, a Jewish sect, Rabbi Nachman of Breslov who died during the Jewish High Holidays 210 years ago. Its members swarm despite coronavirus risks, in Brooklyn, in Jerusalem, and during pilgrimages. Chassidic men ignoring distancing and masks at a rabbi's funeral in May led Mayor de Blasio to attack its adherents who go in for large families and gatherings.

As in South Korea, Iran, Iraq, and parts of the US south, religious assemblies and pilgrimages spread coronavirus. Saudi Arabia canceled the Haj for foreign Muslims this year but Iran continues to welcome foreigners to Qom and sites of Shia martyrdom.

I have been locked out of my website, presumably because my drupal team changed the password which let me get in yesterday. Remember all paid subscribers will get a full extension of their subscriptions for the shut-in period when it ends. I am not trying to cheat you; I am trying to maintain my business during grave technical problems with our Drupal update caused by the pandemic.

Anyone who wants the spreadsheets which didn't spread properly when sent out 2 weeks ago should send me an email to get them.

China is arresting members of the Hong Kong Legco who are pro-democracy. US durable goods orders in July rose 11.2% while forecasts were only for a 4.3% jump. Hanging out at home makes people want to improve their comfort and efficiency. There is more news than usual today.

Drug dealers

*Teva Pharmaceutical (TEVA) responded to news that a Philadelpha federal grand jury returned a criminal indictment charging Teva's US sub with 3 counts of antitrust violations under the Sherman Act. It reads:

“Teva is deeply disappointed that the government has chosen to proceed with this prosecution. (Teva) has been investigating this matter for over four years and concluded that Teva did not participate in price fixing. Based on our internal review, Teva firmly rejects the allegations and will vigorously defend (itself) in court. Teva has fully cooperated throughout the course of the Department of Justice investigation and attempted to reach a resolution in the best interest of the company, its stakeholders, and the patients (it) serves. The DOJ has shown an unwillingness to consider alternatives that would not deeply impact Teva and the stakeholders who depend on the company, including the patients who benefit from our medicines.

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