5 ETFs to Play as New US COVID-19 Cases Continue to Drop
Zacks Investment Research | May 26, 2021 05:00AM ET
The coronavirus outbreak seems to getting under control in the United States as the number of new cases continues to decline. Going by data compiled by Johns Hopkins University, the seven-day average of new infections was about 26,000 as of May 23, per a CNBC article. Encouragingly, the number of cases has declined to the lowest level since June 2020.
Accelerated coronavirus vaccine rollout has been the major factor that has helped gaining control over the aggravating outbreak. President Joe Biden recently announced his latest vaccination goals. He aims at administering at least one dose of a coronavirus vaccine to 70% of U.S. adults along with getting 160 million adults completely vaccinated by Jul 4.
Notably, more than 151 million Americans belonging to the age group of 18 years and above or 58.7% of the U.S. adult population, have been administered at least one dose of a COVID-19 vaccine as of May 12, per data from the Centers for Disease Control and Prevention (CDC) (as mentioned in a CNBC article). Moreover, about 116 million American adults or 45.1% of the U.S. adult population are completely vaccinated, according to the CDC.
The decline in the number of coronavirus cases has increased optimism among market participants toward faster recovering and reopening of the U.S. economy. An increasing number of people are expected to travel and go for vacations starting Memorial Day weekend, which is also considered to be the unofficial beginning of the summer travel season, according to the same article.
Going on, the latest public health guidelines issued by the CDC has relaxed restrictions on wearing masks at indoor and public gatherings. According to the new recommendations, completely vaccinated people do not need to wear masks or stay six feet away from others at indoor or outdoor gatherings, per a CNBC article.
A change in consumer behaviour and shopping patterns is also being observed as Americans are visiting stores for shopping merchandise like new clothes which signal toward normalcy. Large retailers like Walmart (NYSE:WMT) Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
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