“Five charts that track economic recovery in the U.S.” CNBC, June 14, 2020 / Image: CNBC, Source: Apple

WHAT YOU NEED TO KNOW

U.S. stock futures dropped Monday amid heightened fears of a new virus wave. Global stocks also fell following a jump in coronavirus cases in China and parts of the U.S. A lack of demand in China is contributing to the country’s slow recovery – an indication of a similar fate for the rest of the world. One U.S. economist predicts after “an initial bounce this year, the economy will go largely sideways,” until a vaccine is developed. 

A second wave of coronavirus has started, according to a professor of medicine at Vanderbilt University. Though several states have seen a spike in cases, Professor William Schaffner said he cannot imagine a second shutdown, despite other countries reimposing social distancing measures. A doctor in Alabama warned his hospital would not be able to handle much more as the state sees over seven thousand cases reported since June 1, making up 29% of the state’s total confirmed case count. An explosion of new infections in Arizona has prompted public health experts to link the uptick in cases to the state’s lifting of its stay-at-home measures a month ago. The state has emerged as one of the country’s newest hot spots as the daily number of cases and hospitalizations continue to rise. 

A new analysis from Scripps Research found 30-40% of people with coronavirus are asymptomatic, but that factor doesn’t mean they are immune from impacts of the disease. Research suggests patients who don’t show any symptoms may still suffer internal organ damage, including lung abnormalities. 

After being absent from the campaign trail, President Donald Trump is returning to rally his supporters next Saturday in Tulsa, Oklahoma – despite wariness from health experts. The Centers for Disease Control and Prevention has advised that large, in-person gatherings pose the highest risk of infection due to the difficulty of staying six-feet apart. Tulsa’s top health official is urging the campaign to postpone while Sen. James Lankford (R-OK) said he intends to go to the rally, and that people must take responsibility for their own health. 

Greece reopened its airports to some international flights Monday in an attempt to kickstart its vital tourism sector after three months in lockdown. Last year, about 33M tourists visited the Mediterranean nation generating 19B euros in revenue. Other countries are beginning to open as well, although with more restrictions. Europe will open its border to fellow Europeans only, forcing tourists from the U.S., Asia, Latin America, and the Middle East to wait until potentially next month. 

New Zealand became one of the first countries to welcome fans back to its stadiums following its success eradicating coronavirus. Rugby made its return to the country with full crowds cheering on athletes. In the U.S., Dr. Anthony Fauci expressed his support for the NBA’s plan to restart the season with 22 teams, saying he predicts the NBA will be “quite successful.”

How Beijing’s second coronavirus wave triggered a salmon boycott – Fortune – 6/15/2020
Authorities believe the cases can all be traced to Xinfadi, a large wholesale meats and vegetables market in the southern city district of Fengtai that supplies 70% of the city’s produce. Public health officials investigating the outbreak found traces of the virus on a cutting board from a seller of imported salmon at the now-closed market, a government official said on Saturday. The disclosure sparked fears that salmon imported from Europe may be contaminated with the virus, putting in jeopardy China’s $700 million market for the fish.

How America’s Hospitals Survived the First Wave of the Coronavirus – ProPublica – 6/15/2020
Early data from the U.S. Centers for Disease Control and Prevention suggested that for every person who died of COVID-19, more than 11 would be hospitalized. But that ratio was far too high and decreased markedly over time, said Dr. Christopher J.L. Murray, director of the Institute for Health Metrics and Evaluation at the University of Washington. IHME’s earliest models on hospitalizations were based on that CDC data and predicted that many states would quickly run out of hospital beds.

As Cities Reopen, Expect to Wait in Lots of Lines – Wired – 6/15/2020
They’re boring. They’re frustrating. They can get hot. They’re the new normal. The queues are so ubiquitous, in fact, that the people in charge of buildings—all sorts of buildings—are looking for help. The makers of software to count people are ready.

Amid a Pandemic, Transit Authorities Turn to Technology – Undark Magazine – 6/15/2020
In Los Angeles, for instance, ridership on the LA Metro has dropped from about 1.2 million to around 400,000 a weekday. Meanwhile, Detroit’s number 17 bus route and various lines in New York City have run at a potentially dangerous capacity. To address this and other issues during the pandemic, some cities — including LA, Lincoln, Nebraska, Abu Dhabi, United Arab Emirates, Berlin, and Palma de Mallorca, Spain — are turning to on-demand programs called microtransit.

5 ways the pandemic is changing fashion and beauty trends – Washington Post – 6/15/2020
Retailers — already saddled with a glut of unsold winter and spring merchandise — are scrambling to get a handle on these new habits and what is projected to be a long-term shift in the types of clothing, shoes and accessories people will be willing to buy. “The longer we stay in this pandemic, the more our relationship with fashion will evolve,” said Dawnn Karen, a fashion psychologist and branding consultant.

WHAT INFLUENCERS ARE SAYING

TheStreet @TheStreet 15 Jun The S&P 500 looks set to start the week with the highest levels of daily volatility since late April as investors brace for a possible second wave of coronavirus infections. @mdbaccardax

NECN @NECN 15 Jun Within three months, critical care physicians across the country received a crash course on coronavirus, a disease that didn’t exist in the U.S. before this year, and are more prepared in the event of a second wave of the illness

Eugene Scott @Eugene_Scott 15 Jun “Contact tracing failed to stanch the first wave of coronavirus infections, and today’s far more extensive undertaking will require 100,000 or more trained tracers to delve into strangers’ personal lives and persuade even some without symptoms to stay home.”

Barry Ritholtz @ritholtz 15 Jun The second wave expected in November December? Its here in June: Gov. Andrew M. Cuomo of New York said the state was deluged with 25,000 complaints about businesses “are in violation of the reopening plan.” This will get worse before it gets better…

Kevin K. Chung, MD @chungk1031 15 Jun @HematologyArm The second wave has already begun in several states. It is making us very nervous.

CONTENT FACTS

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