News & Events

The Weekly Wrap - June 26, 2020

Mounting health concerns derailed the bulls on Wall Street, raising doubts about the durability of the nascent economic recovery and sending stock prices sharply lower this week. Governors that are seeing record numbers of new infections are having second thoughts about the pace of reopenings, particularly in states that were early to ease lockdown restrictions. In Texas, one of the earliest to ease restrictions, the move to the next phase of reopening was put on hold and other states are either tightening social distancing rules or urging residents to voluntarily abide by them. Echoing this trend, many businesses are also taking a step back; Disneyland is postponing its planned reopening, joining other high-profile names that are retrenching operations, such as Apple, in deference to the rise in outbreaks.