Apple announced today it is closing some stores due to Coronavirus.
You can see the immediate impact on the stock market here:
Case data will still matter. If the state doesn’t shut down things, businesses will from a fear of liability. Casinos in AZ are also closing due to a spike in cases.
The data in AZ and other states is getting much worse.
This has serious implications for the economy if it continues.
One of my theories was we wouldn’t open until after Memorial Day. After being cooped up for months, people would run out and get together. Well, now things are really cooking in Texas and Arizona.
Here’s the latest new cases (7 day moving average) and current hospitalizations for AZ and TX.
Arizona was running out of capacity on June 6th. Since them hospitalizations are up another 25%. The huge jump in new cases means more hospitalizations are coming.
The question is: does it matter for reopening policy? At some point it will if it continues.