The U.S. accounted for 20% of new Covid-19 cases globally on Sunday.
The number of new Covid-19 cases in the U.S. is concerning. The U.S. accounts for just 4.3% of the world’s population. Yet the country has five times more cases than its proportional share.
New Covid-19 cases continued to surge in 22 states over the weekend. And the biggest growth is happening in the South and West.
Meanwhile, Florida surpassed 100,000 cases.
The tug of war between the economy reopening and new cases is causing lots of market volatility.
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New York Enters Phase 2
New York City is entering phase 2 of reopening. This includes allowing offices to reopen under strict guidelines for social distancing. Restaurants are also now allowed to serve outdoors and some retail stores will be allowed to open.
France Reopens Schools
France has reopened its schools nationwide. The schools began reopening on May 11. Yet the rollout has been slow and varied by grade level and location.
Trump Holds Rally in Tulsa
President Trump held a rally on Sunday in Oklahoma. It was his first rally for the 2020 reelection campaign. The attendance was 6,200. The BOK Center has a capacity of 18,000. Trump blamed the fake news for discouraging people from attending the event.
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The Coronavirus Numbers
Here are the numbers from Monday at 12:30 p.m. ET:
- 9,101,686 Infected worldwide
- 471,592 Deaths
- 2,365,932 Infected in the U.S.
- 122,318 Deaths in the U.S.
Stocks rose on Monday morning.
The market is trying to balance the reopening of the economy with growing numbers of new Covid-19 cases.
Everyone agrees that there will not be a second shutdown of the U.S. economy. Yet 22 states are now facing growing numbers of new Covid-19 cases.
Without a vaccine the only way to slow the spread is via social distancing. And that means closing businesses and restricting public gatherings.
It’s likely that we’ll continue to see increased volatility in the market. And that will continue throughout 2020.
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