The Independent Market Observer

Coronavirus Update: July 2, 2020 [Video]

Posted by Brad McMillan, CFA, CAIA, MAI

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This entry was posted on Jul 2, 2020 2:55:58 PM

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Today, I'd like to discuss the coronavirus, including its effects on the economy and markets. Over the past week, we had some bad news on the pandemic front. There were growing viral outbreaks in several states, and the national number of new cases broke the 50,000 per day level for the first time. Although the risks are certainly rising, the appropriate measures are being taken, and we can reasonably expect the outbreaks to peak and start to decline in the next couple of weeks.

Turning to the economy, the news was better. Job growth came in much stronger than expected for the second month in a row, with 4.8 million new jobs created last month. Plus, consumer confidence, consumer spending, housing, and auto sales all continued to show improvement.

So, how have the markets reacted to this mixed bag of medical and economic news? Watch my latest video to learn more.

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