President Trump says the U.S. coronavirus outbreak is past its peak. And on Friday morning, Trump took to Twitter to tell states to stop their shutdown.
The president says, “we’ll be the comeback kids, all of us. We want to get our country back.”
Governors in Florida, Michigan, Wisconsin and Idaho are preparing to lift stay-at-home orders from the coronavirus outbreak.
In Michigan, residents are protesting the governor’s orders. Over 1,000 protesters created a traffic jam in Lansing to show their displeasure with the governor’s orders.
The nationwide lockdown amid the coronavirus outbreak is having a huge and negative impact on the U.S. economy. Unemployment claims and economic data show the massive destruction.
Yet it’s really corporate America that I’m monitoring most closely. Because big companies are starting to report quarterly earnings. And we’ll see a number of major reports released next week.
This increased volatility is creating a huge and profitable trade setup.
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The Big News…
New $1 Trillion Stimulus
Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All American 5G stocks to BUY NOW.
Dr. Fauci: Vaccine Coming Sooner Than Expected
White House advisor Dr. Anthony Fauci says that we could see a vaccine sooner than expected. He had previously estimated that it would take 12 – 18 months for a vaccine to be ready to counter the coronavirus outbreak. He now says that it’s possible that it could be available two months sooner. That means we could have a vaccine during the first half of 2021.
At Home ACT and SAT Tests
Plans are rolling out for “at home” ACT and SAT tests for high school students. It’s become clear that the nationalized academic testing in person may not be available even in September or October.
South Dakota Pork Plant Workers Infected
Smithfield Foods in South Dakota is the latest hotspot in the coronavirus outbreak. The Sioux Falls meat-packing location has at least 640 infections. That’s 44% of cases in the entire state.
The Coronavirus Numbers
Here are the numbers from Friday at 1:30 p.m. ET.
- 2,229,729 Infected worldwide
- 150,766 Deaths
- 686,431 Infected in the U.S.
- 35,578 Deaths in the U.S.
The coronavirus outbreak will crush U.S. corporations and their earnings. Reports start next week.
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Stocks are rallying on Friday.
Today’s positive news is from Gilead Sciences (NASDAQ: GILD). One of the company’s drugs for Ebola is being tested on coronavirus patients in Chicago. And the initial results have been very positive.
Next week the market will be closely watching corporate earnings. Yet smart traders won’t try to predict earnings season results.
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Yours in Health & Wealth,