The Centers for Disease Control (CDC) just issued a warning . . .
The actual number of cases is 10X higher than the official count, the CDC said in its report.
The CDC warning comes after the U.S. reported a record number of new cases.
On Thursday, there were 41,000 new cases. That was the second day of record cases.
President Trump is clearly concerned by the surging number of cases. That’s why the coronavirus task force will host its first briefing in over two months.
Cases in California doubled within the last month. And the total now tops 200,000.
Meanwhile, Florida added 10,000 cases over the last two days. And the total now exceeds 114,000.
Florida and Texas are now pausing their re-opening plans. That means the economies will remain where they are today. Future re-opening phases will be delayed.
The tug of war between the economy re-opening and new cases is causing lots of market volatility.
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The Big News . . .
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New York City Enters Phase 3 on July 6
New York City is on track for Phase 3 of its re-opening. Phase 2 began on Monday. And it allowed offices, outdoor dining, playgrounds and hair salons to open. Phase 3 will allow outdoor recreational spaces to re-open.
India Plans to Test 29 Million People
The total number of cases in India now exceeds 500,000. That’s moving the government to mandate tests for 29 million people in New Delhi over a period of 10 days. The move is designed to curb the spread in the densely populated capital.
World Heath Org Warns Europe
The WHO is warning that new cases in Europe are growing rapidly. 11 European countries reported increases and accelerated transmission of the virus. This follows months of falling numbers of new cases.
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The Coronavirus Numbers
Here are the numbers from Friday at 10:45 a.m. ET:
- 9,754,573 Infected worldwide
- 492,671 Deaths
- 2,506,370 Infected in the U.S.
- 126,839 Deaths in the U.S.
Stocks are falling Friday morning.
The market is taking stock of the record number of coronavirus cases in the U.S.
The biggest concerned is related to economy. Stocks soared since March on plans to re-open the U.S. economy. And many have predicted a V-shaped recovery.
However, high numbers of new cases may delay the re-opening. Florida and Texas are already pausing their re-opening plans.
The major U.S. indices were down 2% in trading this morning.
It’s likely that we’ll continue to see increase volatility in the market. And that’ll continue throughout 2020.
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