Updated: May 25, 2020
Places all around are loosening restrictions once so heavily enforced; the stock market is on the rise, and small businesses are starting to function again- but not as they used to. This article gives a brief recap of the major Coronavirus Updates.
1. Sick Employee may have infected dozens of people
A hair stylist in Missouri was reported to have gone to work without realizing she was transmitting the Coronavirus, and may have exposed at least 60 people to the virus itself (Source: New York Times). This raises concern of business reopening to early, some argue. However, businesses need to reopen- it's only so long people can support their family without going to work- even including stimulus checks,which were sent out with a rocky start.
2. The vaccine- How close are we?
Officials have already stated that a vaccine could take months to distribute once found, but that doesn't mean a found vaccine won't impact things like the stock market, businesses status of reopening, and the effect it would have on the US Economy. A found vaccine would impact all of these positively- unfortunately, this is a hypothetical situation as of now. The vaccine hasn't been found, but we're close. Testing facilities all over the world have shown promise- some government-funded, some privately-funded. Ironically, a Chinese vaccine shows promise. Scientists leading the expedition in the USA have planned a massive testing group- over 100,000 people- all this to meet the end of year deadline. Sadly, USA Coronavirus deaths are almost 100,000, cases just over 1.6 million. New York and New Jersey (the most densely populated state), have a combined total of about 511,000 Coronavirus cases, despite issuing some of the strictest social distancing orders- although the grim setting in the metropolitan area, gatherings of up to ten people are now allowed. Worldwide cases are almost 5.3 million, with a little below 2.1 million people recovered.
3. How does this tie to small businesses?
Donald Trump issued a statement, wishing the reopening of places of worship (Churches, Synagogues, Mosques, etc.) Other small businesses that were not allowed to be open during the height of the pandemic are getting the green light to reopen with heavy restrictions- all employees are required to wear a mask, and require customers to do the same upon entry, and restaurants are only allowed to seat few or take out. With large franchises and chains given the green light to allow their stores to reopen, more widespread than even just last week, the effect on the market will be holistically positive- an article will be going up tomorrow to recap the week in the market, and what the Coronavirus vaccine testing, and reopening will mean for the market this coming week.
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