FDA authorizes first test that screens for Covid neutralizing antibodies

The Food and Drug Administration announced on Friday that it has authorized the first serology test that screens for neutralizing antibodies caused by a previous coronavirus infection.

Neutralizing antibodies prevent viruses from infecting cells, though questions remain about how long antibodies against Covid-19 last for and how much protection they provide. The new serology test will help researchers study the neutralizing antibodies, said Dr. Tim Stenzel, director of the Office of In Vitro Diagnostics and Radiological Health in the FDA's Center for Devices and Radiological Health.

"The ability to detect neutralizing antibodies can help us gain additional insight into what the existence of antibodies may mean for patients as we continue the fight against COVID-19," he said in a statement. "There are still many unknowns about what the presence of SARS-CoV-2 antibodies may tell us about potential immunity, but today's authorization gives us another tool to evaluate those antibodies as we continue to research and study this virus."

Patients and health providers should not interpret the positive results of the test to mean that patients are protected against Covid-19, the agency said. They should still follow public health precautions, the FDA said.

The FDA granted the emergency use authorization to GenScript USA, which manufactures the test.

Gold Edges Higher Ahead Of US Jobs Report

Gold edged higher on Friday and the dollar remained under pressure as uncertainty over the U.S. vote continued and investors kept an eye on rising Covid-19 infections on both sides of the Atlantic.

The focus also remains on the U.S. non-farm payrolls report for October due out later in the day, with the report likely to show evidence of a weakening labor market.

Spot gold edged up 0.1 percent to $1,951.07 per ounce, after having risen as much as 2.4 percent on Thursday amid dollar weakness. U.S. gold futures were up 0.3 percent at $1,952.20.

Investors remain on edge over drawn-out vote counting in the U.S. presidential election.

Democratic challenger Joe Biden gained more ground on President Donald Trump in the battleground states of Georgia and Pennsylvania, edging closer to winning the White House. The Trump team is pressing legal challenges in several states.

On the Covid-19 front, the United States has surpassed 100,000 new coronavirus infections for the second day in a row on Thursday.

France posted a record number of new virus cases and Italy also registered its highest ever daily tally as several European countries reintroduce lockdown measures.

Denmark is killing its large mink population after discovering a coronavirus mutation that can spread to humans.

Meanwhile, U.S. employment is expected to increase by about 600,000 jobs in October after an increase of 661,000 jobs in September. The unemployment rate is expected to edge down to 7.7 percent from 7.9 percent.

Million-Dollar Condo Contracts Jump 300% in Palm Beach County

Million-dollar condo deals in Florida’s Palm Beach County surged last month, a sign that the area’s pandemic-fueled real estate boom is spreading beyond single-family homes.

Signed contracts for condos worth at least $1 million jumped 300% from a year earlier to 36, according to a report Thursday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. Across all price ranges, pending condo purchases in the county were up 155% to 612.

Sunny South Florida has become a destination for Northeast city-dwellers seeking extra room to ride out the pandemic while working remotely. Single-family homes have benefited most and continue to do so, but the jump in condo deals shows buyers may be getting more comfortable with elevators and public spaces again.

“Covid made Zoom ubiquitous in 24 hours, and I also think it took people that were on the fence and helped them make a decision” about moving to Florida, said Jonathan Miller, president of Miller Samuel.

Facebook Removes ‘Stop the Steal’ Group Casting Doubt on Vote

Facebook said it has taken down a group that has surged in popularity since Election Day called “Stop the Steal.”

The group, which had attracted more than 360,000 followers in recent days, was attempting to sow doubt about the legitimacy of the U.S. presidential election. The #StopTheSteal hashtag has also become popular on Twitter.

Facebook Inc. said it removed the group because some members were calling for violence.

“In line with the exceptional measures that we are taking during this period of heightened tension, we have removed the Group ‘Stop the Steal,’ which was creating real-world events,” a Facebook spokesperson said. “The group was organized around the delegitimization of the election process, and we saw worrying calls for violence from some members of the group.”

Dan Rather Comes Up With Biting New Way To Explain Electoral Process To Donald Trump

Veteran journalist Dan Rather on Friday put the electoral process into words that President Donald Trump may be able to understand.

With Trump promoting conspiracy theories about mass voter fraud and baselessly accusing Democrats of rigging the 2020 election while votes are still uncounted and several states are not called, the president seems unwilling to accept the lead that Democratic nominee Joe Biden currently has over him.

So, Rather broke it down with this tweet referencing the hundreds of millions of dollars of debt that the president reportedly holds.

Rather had earlier dinged Trump with this post:

The former anchor on CBS has over the last four years been a vocal critic of Trump, his allies and administration ― once describing Trump’s inner circle as a “flock of felons.”

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