Friday's Market Minute: Cost of Reopening

The U.S. is hesitantly opening its door for business, with all 50 states now beginning to reopen in some variation. This comes nearly two months after the coronavirus pandemic pushed the nation into lockdown. With millions of Americans out of work and many entering their third month of social isolation, pressures to lift state-level restrictions are now weighing on governors. Retail, limited restaurants, certain services, beaches, and state parks will slowly begin to open nationwide, despite experts cautioning that a second wave of cases could still be on the horizon. The president confirmed on Thursday these actions will not be reversed federally. President Trump stated he is not closing the country if it experiences a second wave of Covid-19, saying “People say that’s a very distinct possibility… it’s standard. We are going to put out the fires. We’re not going to close the country.” Trump has noted there may be lasting effects of the pandemic that linger in the country past the summer. Health experts alike have agreed there could be virus effects felt through the fall and winter of this year, including a potential surge during the upcoming flu season. But with 2.4 million Americans filing for unemployment benefits last week, tensions mount to return to work for the chance at a “new normal.”