July 16, 2020
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5 Things to Know Before Opening the Stock Market Wednesday

5 Things to Know Before Opening the Stock Market Wednesday

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1. Dow will fall as the incidence of coronavirus in the US

Due to the fact that the S & P 500 soared more than 21% in the second quarter and has five trading days left, Wall Street strategists are missing out on the likelihood that institutional and other investors will sell part of their big profits in the stock market and will buy bonds over the next week. According to some forecasts, the rebalancing of the pension fund is estimated in a wide range – from 35 to 76 billion dollars.

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2. Decline in iPhone sales in China last month

People wearing masks walk past an Apple store in Beijing on March 17, 2020 in Beijing, China.

Fred Lee | Getty images

Apple shares were under some pressure at premarket trading on Wednesday, once after rising 2% before another record close. Perhaps this contributed to a pause in the Apple rally after the announcement of a developer conference on Monday. Data showed that iPhone sales in China fell 7.7% to 3.6 million. Pieces per month for the month after the April jump by 160%. Sales slowed last month after Apple saw an initial recovery when China resumed its economy as the outbreak of the coronavirus weakened. In April, Apple released the second generation iPhone SE, the cheapest device in the iPhone line. Since Apple sold the iPhone SE at retail in China, sales of the new device helped boost the number in April.

3. Fauci warns of a “disturbing surge” in infections

Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, wears a mask while he waits to testify before the House Committee on Energy and Commerce about the Trump administration’s response to the COVID-19 pandemic on Capitol Hill in Washington, DC. , USA, June 23, 2020

Kevin Ditch | Reuters

White House Health Advisor Dr. Anthony Fauci warns that there is an “alarming surge” in coronavirus infections in parts of the United States. States with growing outbreaks may need to suspend or roll back the stages of their reopening plans, Fauci said at a meeting of the House of Representatives on Tuesday. He said that the states may not need to order a full shutdown again, as in March. Fauci also said doctors see “more and more” complications with Covid-19 in young people. He said he expects the vaccine to be ready by early next year.

4. Covid-19 cases and hospital admissions continue to grow

According to an analysis conducted by CNBC according to Johns Hopkins University, the average number of new cases of coronavirus in the United States in seven days increased by 30% compared with a week ago. Hospitalization is also increasing in states such as Arizona and Texas.

According to health officials, it may take five to 12 days for people to show symptoms, which can lead to reporting delays. Cases are growing in at least 26 states, including Texas, California, and Florida. Meanwhile, the District of Columbia and 16 states, including New York, New Jersey and Connecticut, reported a decrease in the number of new infections.

5. The EU may continue to ban travelers to the US when it opens borders

A volunteer measures people to see if they have a fever at the entrance to the Maggiore hospital in Bologna for preventive measures for Covid-19 on June 5, 2020 in Bologna, Italy.

Michelle Lapini | Getty images

The European Union is discussing how to open its external borders, as the region hopes to slowly open the economy. However, visitors from countries such as the United States may not be allowed to enter. “It is too early to talk about which countries will be on the list,” an EU spokesman told CNBC on Wednesday, who spoke on condition of anonymity because of the delicacy of the decision-making process. European countries decided to close their external borders in March to curb the spread of Covid-19. Travel restrictions were extended three times, but they should end on Tuesday.

The Associated Press is contributing to this report. Keep track of all Wall Street events in real time with the CNBC live blog. Get the latest pandemic news with our coronavirus blog.

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