The White House has two confirmed cases of the Covid-19 virus.
The press secretary for Vice President Pence tested positive in recent days. And last week, a valet to President Trump tested positive.
Both Trump and Pence have repeatedly tested negative for Covid-19.
The outbreak in the White House is sending several members of the coronavirus task force into self-quarantine. Dr. Anthony Fauci and Dr. Robert Redfield are in self-quarantine for the next 14 days.
The outbreak in the White House shows just how contagious the virus is.
The White House is taking great precautions to disinfect multiple times per day. Plus, social distancing is limiting the proximity of people in the same room. Yet even these actions aren’t enough to stop the virus.
The outbreak in the White House highlights the challenges we will face in the coming weeks. Re-opening businesses across the country will lead to higher numbers of cases and deaths.
The Big News . . .
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Shanghai Disneyland Reopens
Disney (NYSE: DIS) opened up Disneyland Shanghai for the first time since January. The re-opening allows Disney to operate at 30% of capacity – or 24,000 visitors per day.
Chesapeake Energy Warns of Bankruptcy
Chesapeake Energy is warning investors that it may go out of business. The company was a previous success story of fracking in America. Yet a heavy debt load and low prices for oil and natural gas are creating huge financial challenges. The company lost $8.3 billion in the first quarter.
United Kingdom Outlines Re-Opening Plans
The U.K. is outlining new measures to re-open the country. The country is now allowing people to exercise outside. The country aims to re-open some businesses in June. By July Britain hopes to re-open bars and restaurants.
New $1 Trillion Stimulus
Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All American 5G stocks to BUY NOW.
The Coronavirus Numbers
Here are the numbers from Friday at 11 a.m. ET:
- 3,950,517 Infected worldwide
- 271,802 Deaths
- 1,295,101 Infected in the U.S.
- 77,059 Deaths in the U.S.
Stocks fell on Monday morning – with the Dow and S&P 500 losing 0.5%.
Right now, the markets are trying to make sense of re-opening America. Other countries including the U.K. and Germany are also slowly re-opening for business.
Meanwhile, South Korea reported an uptick in the number of new cases. The country has largely been considered a success story. However, after relaxing some restrictions the country’s new cases spiked over the weekend.
Additionally, the outbreak in the White House demonstrates how contagious the virus is.
First-quarter corporate earnings season is ending in the next few weeks. Thus far, companies in the S&P 500 have reported a 13.6% drop in profits.
The outlook for the remainder of 2020 is bleak. Many companies are now withdrawing financial guidance due to their inability to accurately forecast during this pandemic.
There may be great uncertainty regarding financial results.
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