The Daily Valet. - 10/19/20, Monday

✔️ A New Strategy

October 19, 2020

Monday, October 19th Edition

Cory Ohlendorf, Editor in Chief of Valet.

Monday already? But on the bright side, your credit score has probably improved.

Cory Ohlendorf , Editor ⋯ @coryohlendorf

Today’s Big Story

The COVID Cases Continue to Rise

As virus flares globally, new strategies target hot spots

Worldwide coronavirus cases crossed 40 million early Monday, according to a Reuters tally. And the data shows the pace of the pandemic continues to pick up. Which is particularly troubling as we head into winter.

Here in the U.S., reports of new cases have trended upward in all but 11 states, and more than 65,000 cases were announced across the country on Thursday, the most in a single day since July. An additional 70,000 were announced on Friday—with nine states setting single-day case records.

Uncontrolled outbreaks in the Midwest and Mountain West are driving the surge, according to a New York Times database. Some of the states with the most extreme growth had relatively few cases until recently, which is putting stress on rural hospitals.

After big cities and entire nations were shut down during the first surge of the coronavirus earlier this year, some countries and American states are trying more targeted measures, reports the Associated Press.

New York’s new round of virus shutdowns zeroes in on individual neighborhoods, closing schools and businesses in hot spots measuring just a couple of square miles. Spain limited travel to parts of Madrid while Italian authorities have quarantined spots as small as a single building.

Some scientists say a localized approach, if well-tailored and explained to the public, can be a nimble response at a complex point in the pandemic. It’s a savvy tactic, considering how many people who aren’t suffering from COVID-19 but are suffering from serious pandemic fatigue.

↦ Meanwhile: The bipartisan National Governors Association submitted questions to the White House over the weekend about the vaccine and how it will be distributed to citizens.

About This Stimulus

Can they reach a deal? Or send another a check?

House Speaker Nancy Pelosi said Sunday she and Treasury Secretary Steven Mnuchin must reach an agreement within 48 hours if they want to pass a coronavirus stimulus relief bill before Election Day, reports CNN.

Pelosi is putting pressure on the administration to cut a deal by Tuesday because the legislative process in the House and Senate will take time to play out, and it won't be feasible to get a bill passed through both chambers by November 3 if the talks drag on beyond the next couple of days.

The on-again-off-again talks over a deal costing between $1.8 trillion and $2.2 trillion have been dragging on for months without producing results.

If they do reach an agreement, there are four possible ways you could get a bigger stimulus check in a second round of direct payments, reports CNET. They've even got a stimulus check calculator to get a more specific estimate for your particular situation.

Are You Voting Early?

More votes are being cast as the campaign heats up in the last stretch

Early voting for the Nov. 3 presidential election begins in the crucial battleground state of Florida today as a record 28 million Americans have already cast ballots with barely two weeks remaining in the campaign, reports Reuters.

But according to NPR, it's not all good news as sky-high voter enthusiasm meets the realities of the United States' creaky machinery of democracy amid a pandemic. That means long lines in some areas, but overall the system seems to be working.

Democrats have cast about 53% of the early votes, according to predictive analysis by the data firm TargetSmart, which uses voter data beyond party registration to project turnout trends. That's compared with 36% by Republicans.

Meanwhile, the two candidates are going on offense in states they're trying to flip. President Donald Trump will visit Arizona today after holding a rally in Nevada on Sunday and urging his supporters to vote. Joe Biden, who campaigned in another key state of North Carolina on Sunday, will spend today in Delaware while his running mate, Senator Kamala Harris, heads to Florida to encourage supporters to—you guessed it—vote early.

↦ FYI: Double check to make sure you're registered to vote.

Credit Scores Rise Amid Downturn

The average FICO credit score hit record highs

Millions of Americans lost their jobs and skipped debt payments this year. But you wouldn't know it looking at consumer credit scores.

According to the Wall Street Journal, while the coronavirus was pummeling the U.S. economy, Americans' credit scores were rising. The average FICO credit score stood at 711 in July, up from 706 a year earlier.

It may sound crazy, but financial experts tell CNBC that it takes a while for these scores to change. During the Great Recession, the average U.S. FICO score didn't hit its lowest point until late 2009—nearly two years after economists ruled that a recession had actually started.

Also, people are managing their credit more strictly these days. They're thankfully missing less payments due to COVID-specific payment plans and are charging less on their cards in order to keep balances down—two strategies that naturally raise your credit score.

↦ FYI: You can check your credit reports, which are now available weekly, from AnnualCreditReport.com.

In Other News

Other Things We’re Talking About Today

Stuff we’re looking to buy

The latest Banksy street art

Pedestrian danger

Fall’s Unofficial Sneaker

Is it time to change your shoes?

The changing of a season necessitates the swapping of your wardrobe, right? So asks our writer Scott Woolf. "Bright and bold short-sleeve shirts get replaced by dark, thick sweaters," he says. "I don't know about you, but my closet inevitably starts resembling the brochure for an Ivy League admission's office, regardless of how far I am from the nearest hiking trail."

When it comes to prep-adjacent, all-American sneakers, you can't do better than New Balance. The brand's been enjoying a resurgence lately—mostly because they're excelling at coming up with new styles while embracing the classics that went from Dad sneaker to "cool Dad sneaker."

Scott goes into some interesting history and then rounds up some of the coolest pairs worth pulling on this fall.

↦ Dig Deeper: Why you should get some New Balances this fall.

What We’re Buying

This 100% cotton turtleneck sweater from H&M is not only incredibly soft, but will keep you nice and warm this fall—perfect for an outdoor date or on your video conference calls. Once a fashion faux pas in the late '90s, the turtleneck has made a massive comeback with a more tailored fit allowing for layering. Pair it with a blazer, bomber or even a chore jacket and you'll be set.

↦ Get It $24.99 at H&M