Despite the eagerness amongst Americans to return to the bustling activity once seen before the onset of the deadly disease, the peak of the coronavirus pandemic is yet to be seen. According to latest data provided by the Covid Tracking Project, a record of 62,117 new infections were recorded across the country on Wednesday, showing an increase from Friday’s record of 57,562 new infections. Thursday yielded 58,836 new cases, a down tick from the record high.
Wednesday’s new record further adds to ever-increasing tally of over 3.1 million total cases across the US, and despite the Trump administration claiming earlier that the sudden spike in cases is solely attributed to increased testing across the country, that may no longer be the case. The Covid Tracking Project found that coronavirus-related deaths have also begun rising, following a recent trend where numbers remained relatively low.
Also on Wednesday, there were approximately 900 deaths stemming from the virus, with Texas accounting for 98 of those deaths. Only on Monday however, the number of deaths were recorded at 242, thus suggesting such a drastic increase over a span of several days is rather alarming. The previously low death rate has been the predominant reasoning behind many states reopening their economies, but the new alarming trend on increasing coronavirus-related deaths has caused some state governments to reconsider their restrictions-lifting plans.
As with the increase in infections and coronavirus-related deaths, the number of hospitalizations in the US has also been on the rise. Over 43,000 hospitalizations were recorded since the middle of May, with that figure expected to cross over the 44,000 mark by the end of Friday.
However, despite the alarming increases in both infection rates, hospitalizations, and now suddenly rising death rates, the Trump administration does not have any immediate plans on reintroducing further infection mitigation strategies. According to US president Donald Trump, schools must reopen come the new school year, because allegedly his re-election chances are at stake otherwise.
Information for this briefing was found via Financial Times, The Covid Tracking Project, BBC News, and CNN. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.