The United States just recorded the deadliest day for the virus. The nation recorded 1,997 coronavirus deaths in just 24 hours.
That brings the death total to nearly 13,000. And with 398,000 cases in the country, the death toll will continue surging in the coming weeks.
April 4 was the previous day with the most deaths – at 1,344. And that means yesterday’s deaths were a 50% increase from the previous high.
More than one-third of yesterday’s deaths were in New York state. Yet there is hope that New York may see its peak in mid-April.
However, the country is just starting to see the economic impact. Over 10 million jobs have been lost. And economic data is starting to show a big drop in March.
Next week we’ll start to understand how the outbreak is affecting corporate America (click here to discover the secret to low-risk Overnight Trades).
That’s because “earnings season” gets started next week with Wells Fargo, JP Morgan, Johnson & Johnson, Morgan Stanley and Citigroup.
Corporate financial results will let us understand the true fallout of the virus. The results will show the one-month impact of the virus in the month of March. And this will preview what’s yet to come in the second quarter of 2020.
It’s almost impossible to predict the earnings results.
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The Big News . . .
California Secures 200 million Masks Per Month
California Gov. Gavin Newsom says that his state has secured 200 million masks per month. The masks will be available for health-care workers.
31% of Americans Paid Rent Late in April
A new report shows the economic fallout from the outbreak. Nearly one-third of Americans were late paying rent in April. That was up from 19% in March. This shows that rising unemployment and uncertainty is causing millions of Americans to hold off on making rent payments.
America Approaches 400,000 Cases
The U.S. just recorded its most deadly day in the outbreak. Yesterday we recorded 1,997 deaths. That was 50% more than previous high. The total number of cases reached almost 400,000.
General Motors Makes 30,000 Ventilators
GM says it will send 30,000 ventilators to the federal stockpile. Over 6,100 machines will be delivered by June 1. That number is equal to two-thirds of the current number of ventilators remaining in the government stockpile.
Bill Gates: #1 Covid-19 Stock
Microsoft founder Bill Gates is putting up millions to fund a new coronavirus vaccine. In fact, he’s placing a big bet on one tiny biotech stock. This tiny stock could surge 3,825% as it rushes through FDA trials. Go here for urgent details (it’s FREE).
The Coronavirus Numbers
Here are the numbers from Wednesday at 11 a.m. ET.
- 1,453,804 Infected worldwide
- 83,588 Deaths
- 402,766 Infected in the U.S.
- 12,918 Deaths in the U.S.
How can we STOP the coronavirus? America needs this coronavirus vaccine (go here for details).
U.S. stocks are posting 1% gains on Wednesday morning.
Right now, the market appears to be accepting that record death tolls are normal. And there remains an uncanny optimism that things will go back to normal quickly.
The biggest risks to stocks include worse-than-expected economic data from March. This includes the latest jobs report, which will be released tomorrow.
Additionally, earnings season kicks off next week. And shocking earnings season results will be commonplace.
Given the size of this crisis, it’s nearly impossible to predict earnings season WINNERS and LOSERS. Instead, I’m planning to use this Overnight Trading strategy.
It could let you turn $5k into over $845,244 no matter what happens with earnings.
Yours in Health & Wealth,