and other global hot spots. Monday’s sudden dive for markets after California’s announcement was reminiscent of similar recent market reactions after Florida and other Sun Belt locations have announced rising numbers of known infections and deaths.If states continue to bring back restrictions on their economies to slow the resurgence, it could choke off the fragile economic improvements just as they got underway.
“The most important thing is COVID-19 data,” said Darrell Cronk, chief investment officer of Wells Fargo Wealth and Investment Management. “That’s going to affect whether we have to slow down or stop economic activity in the back half of the year.” Such concerns have helped the price of gold recently rally to its highest level since September 2011, shortly after it set its record. Gold added $12.20 to settle at $1,814.10 per ounce Monday.
Another measure of nervousness in the market also ticked higher. The VIX, which shows how much volatility traders expect from the S&P 500 in upcoming weeks, rose 18%.PepsiCo added 0.3% even though it said its profit fell 19% last quarter from a year earlier. Results were better than Wall Street had forecast, leading to the lift.
Benchmark U.S. crude fell 1.1% to settle at $40.10 per barrel. Brent crude, the international standard, fell 1.2% to $42.72 per barrel.Get our Boiling Point newsletter for the latest on the power sector, water wars and more — and what they mean for California.
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Now will everyone just stay the hell away from one another & wear masks for two weeks while mandatory tests are given to all of California? Then you can have your economy and your schools. Just gotta do all that and not half ass it. France just ended their emergency declaration.
There is enough money for all of us to live well
Still very hard to belive anyone didn't see this coming.
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