After six weeks of nearly 100% nationwide shutdown…
Some states are starting to lift restrictions and allow “low risk” businesses to re-open.
Few cities have been harder hit than Las Vegas, Nevada. One third of the Las Vegas economy is related to travel and hospitality. And these Las Vegas businesses are now closed.
However, re-opening hotels and casinos will be challenging. The industry is largely dependent upon people taking vacations or coming to Las Vegas for conferences and conventions.
Most Americans aren’t getting on an airplane anytime soon. And that means the bounce back for Las Vegas could be extremely slow.
Statewide unemployment in Nevada is now 16.8%. And in Las Vegas, it’s estimated to be around 25% – twice the level reached during the Great Recession.
The Big News…
White House Coordinator: Social Distancing Through Summer
Dr. Birx tells Americans that they should expect social distancing to continue through summer. This will impact social engagements as well as business activity.
‘It’s Over by Memorial Day,” Says VP Mike Pence
Vice President Mike Pence say that the worst will be behind us by Memorial Day. “I truly do believe that if we all continue to do that kind of social distancing and other guidance broadly from federal and state officials, that we’re going to put this coronavirus in the past.”
Bill Gates Says Vaccine Ready in One Year
Microsoft founder Bill Gates is funding Covid-19 drugs. He says that a drug could be approved and produced at large levels within a year. However, he warned that it could take as long as two years.
WHO: Virus Reinfection Is Possible
The World Health Organization says that it’s possible to be re-infected with Covid-19. In South Korea 111 people appear to have gotten sick after previously being cured.
9.5% Unemployment in 2021
The Congressional Budget Office (CBO) just released unemployment projections. The unemployment rate will reach 14% by June. Unfortunately, the unemployment rate will remain at 9.5% at the end of 20121.
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.
The Coronavirus Numbers
Here are the numbers from Monday at 9 a.m. ET:
- 3,013,836 Infected worldwide
- 207,900 Deaths
- 987,322 Infected in the U.S.
- 55,415 Deaths in the U.S.
The outbreak will crush U.S. corporations and their earnings. Reports are coming in every day.
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Stocks are trading up 1% on Monday morning.
The markets remain optimistic as several states are re-opening for business. Meanwhile, even hard-hit states like New York are laying out plans for a slow and staggered re-opening as early as mid-May.
Meanwhile, investors will get a view inside corporate America as more companies report earnings.
This week we’re expecting results from Boeing, Facebook, Tesla Motors and Microsoft on Wednesday. On Thursday, we’ll hear from Apple, Amazon and Gilead Sciences.
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Yours in Health & Wealth,