The market continued to shrug off a continuous rise in coronavirus cases across the U.S.
with Covid-19 grew by 5% or more Sunday in 23 states, including Texas, which reported a record of more than 8,000 hospitalizations on Sunday. California Gov. Gavin Newsom on Monday asked six additional counties to close their indoor businesses.
"While we expect continued volatility, we think there are grounds for optimism that economies and markets can weather the recent acceleration in infections," Mark Haefele, chief investment officer at UBS, said in a note. "There are signs that healthcare systems are coping better with COVID-19, reducing the need for restrictions on freedom of movement. Economic data continues to point to resilience.
The Labor Department will release the May figure for job openings on Tuesday at 10:00 a.m. ET. Economists polled by Dow Jones expect the total vacancies to drop to 4.5 million in May from 5.05 million in April, which was the lowest total since December 2014. The government's Job Openings and Labor Turnover Survey is a month behind the more closely followed nonfarm payrolls report, which showed a surge of 4.8 million in June and a 2.7 million jump in May.for exclusive insights and analysis, and live business day programming from around the world.
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