The Independent Market Observer

Coronavirus Update: July 31, 2020 [Video]

Posted by Brad McMillan, CFA, CAIA, MAI

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This entry was posted on Jul 31, 2020 12:17:25 PM

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Today, let's take a look at where we are in the coronavirus crisis, including the economic and market implications. On the pandemic front, we had some good news this week. At the state level, case growth in most of the worst affected states appeared to have peaked. Nationally, the number of new cases was about 70,000 (almost the same as last week), and the daily spread rate improved from just under 2 percent to 1.5 percent per day. Overall, the national risks remain under control, and the possibility of another national shutdown is very unlikely.

Turning to the economy, the data continued to be softer. Layoffs stopped declining, and unemployment claims rose. Further, there are signs that consumer confidence has pulled back. Still, much of the data remains better than in recent weeks, with business confidence and investment beating expectations.

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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