America’s New COVID Surge is Real – Why Optimists Aren’t Worried

Over the last two weeks, new coronavirus cases in America have gone up by 80%, mainly in the South and West.

California, which was the first to lock down, reported 7,000 new cases on Monday, a new daily record for the state. 2,800 of those new cases came from Los Angeles County, which is the source of almost half of California’s cases.

But this isn’t just because of testing. The number of Californians hospitalized because of COVID-19 has almost doubled in just two weeks.

Arizona is doing even worse. It reported 4,600 new cases on Tuesday, and hospitals are running out of beds. On Monday, Arizona’s health director authorized hospitals to activate their “crisis care” contingency plans.

Meanwhile, hospitals in Houston have run out of beds as cases in Texas are surging too. Florida is in a similar situation, and last Friday reported all-new daily infection highs along with Idaho, Kansas, Oregon, South Carolina, and Utah. And on Wednesday July 1, the U.S. hit an all-time for new daily cases at 50,655 according to data from Johns Hopkins Coronavirus Resource Center.

Whether you want to call it a spike, a surge or just the second stage of the first wave, it’s here and it’s bad.

But you wouldn’t know it from looking at the stock markets.

With much of this data coming out on Friday and adding in the news of Texas re-imposing some lockdown limits, the Dow dropped some 700 points. It then made more than 500 of them back on Monday with more gains on Tuesday and Wednesday. Markets don’t seem to be reacting much to all this bad news.

Not yet, at least. And it’s not just because of all the stimulus

Facebook Advertisers Boycott and You Make More Money

Social media giant Facebook Inc. (FB) is in hot water again.

This time, people are angry at the company’s apparent refusal to take down hate speech, calls for violence, and other distasteful content from the network.

So far, more than 160 companies have signed up for the “Stop Hate for Profit” campaign, pledging to “pause” advertising on Facebook.

We’re talking about big names like Ben & Jerry’s, Coca-Cola, Hershey’s, Honda, Levi Strauss, Starbucks, The North Face, Unilever, Verizon and many more. All will not be buying Facebook ads in July, and some are going even further.

Since almost all of Facebook’s $70 billion in revenue comes from advertising, this is hitting CEO and founder Mark Zuckerberg right where it hurts.

Or at least, that’s what we’re being told.

As the advertising boycott really took off last Friday, Facebook stock dropped 8.32%. Zuckerberg himself lost about $7 billion in wealth because of it. Stock markets as a whole went down partly because of this.

But don’t believe the hype. Facebook will not only survive this scandal; it will grow even bigger.

In fact, this is a great opportunity to buy the dip.

Here’s why