Today, I'd like to discuss the coronavirus, including its implications for the economy and markets. On the pandemic front, this week was much the same as last week. Nationally, the number of new cases per day held at just above 70,000, and the daily spread rate has been below 2 percent per day for the past five days. These numbers are still too high, but they’re not getting worse. This is good news, as stabilization represents real progress.
While the medical news has shown slow improvement, the economic data has softened slightly. Layoffs have stopped declining, and there are signs that consumer confidence may be pulling back. These two factors explain a recent drop in consumer spending growth.
So, how have the markets responded to these signs of a slowdown, and is the recovery still on track? Watch my latest video to learn more.