Hello there,
This is Crypto Lemon again, still rambling about the ongoing COVID19 situation in the US and the negative impact it might continue to have.
First, as mentioned in many previous posts, US and Europe have been clear that there will not be a national confinement as in March/April.
US economy is still the most important in the world and when it goes south, the rest of the economies (including China) follow.
Therefore, let's look at the US COVID19 Datas
US Daily New Cases
I do not think I need to comment this graph too much. The 7 day moving average is just increasing very steeply and knowing the incubation period (average of 7 days) and the reopening of the economy: this is only going to get worse.
Now the COVID19 wave has moved to southern states mostly anti-mask / confinement. California seems to be an exception as it was strict on social distancing measures.
California
As we can see below cases by town/counties. We see that most of the cases are close to the ocean and in warm places.
I have heard that people in LA did not take the virus seriously and still do not wear masks. I let you look at the results.
Texas
Hospital admissions are growing 7-8% daily for the past 3 days. This can be a NY kind of situation if the growth of new cases does not slow very soon !
Texas just announced they were "pausing" the deconfinement" plan and activated the COVID-19 'Overflow'.
Florida
On a positive note, some companies exposed to Europe and China are
actually doing better than they expected. Lately SEB (Moulinex, Tefal, Krups brands...) and DE'Lhongi annouced that they expect to be less impacted on Full 2020 year Results.
On the other hand, unemployment claims remain very high in the US and MACYs announced more than 3000 job cuts.
The debate is still one: "V-shape recovery in Q3 or biggest recession and long-term economic damages?"
If you get this right you will know where Cryptos and Stocks are going next: Up or Down 😉.
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