EDITOR'S NOTE
The coronavirus is apparently not taking a summer hiatus as once hoped.
The nation’s seven-day average of daily new Covid-19 case has surged more than 30% compared with a week ago, according to a CNBC analysis of data compiled by Johns Hopkins University.
Texas Gov. Greg Abbott has gone from defending the state's early reopening efforts to threatening more restrictions if hospitalizations continue to surge in his state. "Surely the public can understand that if those spikes continue, additional measures are going to be necessary," he said.
The rise in new cases hasn't deterred the stock market, which continues to reward the Big Tech winners that have boomed in the ongoing pandemic.
The Nasdaq hit a record high on Tuesday with Apple leading major sector names higher after a bevy of product development announcements.
“The message today may be that the virus and the bull market can coexist,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC. “Market action seems to suggests that investors expect the economy to continue improving in the months ahead even though the country is likely to experience spotty or temporary spikes in the virus.”
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