Monday's data wasn't pretty
The US reported 252,369 new coronavirus cases yesterday, the highest number since January and one of the 10 worst readings ever.
The big caveat is that many states don't report data on weekends, so some of the numbers are for three days rather than one. There's every reason to expect a much lower number than today.
Still the 252K number is much higher than the prior Monday at 178K and I don't rule out that the ongoing climb is hurting market sentiment. A week ago, there was all kinds of talk about a US near-term peak but that's now in doubt.
The good news is that the Monday data from Florida matched the week-ago data so the high numbers there -- about 20% of all US cases -- may be close to turning the corner.
Around 50% of people in Florida are vaccinated but that falls to 36% in nearby Mississippi, where cases are exploding.
Finally, in Texas cases do appear to be slowing but governor Abbott just revealed that he tested positive for the virus. His office said he's receiving Regeneron's treatment, but that he's asymptomatic.