Grab These 5 ETFs as Coronavirus Cases Continue to Rise

The world’s largest economy seems to be facing the threat of the fourth coronavirus outbreak wave. Sadly, at least 551,000 people in the United States have died from the COVID-19 infection since February 2020, per The Washington Post article. According to Johns Hopkins University data, United States has averaged 65,700 new cases a day over the last week, up 22% from the prior week numbers (per a CNN report).

However, majority of the states in the United States are reopening businesses like gym, bars, restaurants and salons, with people not strictly following the mask mandate. Commenting on the current conditions, Centers for Disease Control and Prevention Director Dr. Rochelle Walensky said that the United States is facing an “impending doom”, per a CNBC article. She also said that “we have so much to look forward to, so much promise and potential of where we are and so much reason for hope, but right now I’m scared,” according to the same CNBC article.

Globally, the World Health Organization has reported a 14% increase in new coronavirus cases over the seven-day period ending Mar 28, according to The Washington Post article.

The resurging cases have frightened investors as they fear that implementation of new lockdown measures to control the spread may hurt global economic recovery achieved so far, following the reopening of economies.

The highly contagious variants are appearing to be a probable reason behind the fresh cases. The contagious U.K. variant currently makes up for about 30% of the coronavirus cases in the United States, per a CNBC article. Going by the same article, there are chances of the variant becoming dominant by the end of this month or early April.

According to Michael Osterholm, director of the Center for Infectious Disease Research and Policy at the University of Minnesota, the B.1.1.7 variant has caused a rise in transmission in countries with a vaccination drive similar to the United States (per a CNN report). Globally, in order to combat the outbreak, Germany has extended the lockdown until Apr 18, while the majority of France is also under lockdown. Moreover, India and Brazil are increasingly seeing new coronavirus cases. On the other hand, Argentina suspended all the incoming flights from Brazil, Chile and Mexico from Mar 27, per a CNN report. Also, Turkey and Canada are seeing increasing new cases and hospitalizations largely due to the B.1.1.7 variant, as mentioned in a CNN report.

Amid the coronavirus pandemic, surging work-from-home and online shopping trends, increasing digital payments, growing video streaming and soaring video game popularity have been observed. With the new trends making way, a few major technology stocks are expected to keep gaining traction from the buoyancy in demand for their products and services.

Evidently, industries like cloud computing have been thriving with majority of people working from home. Even though vaccine rollout has begun globally, demand for cloud computing is set to stay robust even beyond the pandemic. In the wake of the pandemic, cloud technology adoption is projected to witness robust growth in sectors where work-from-home initiatives are helping sustain business functions.

Gartner (NYSE:IT) has reportedly projected end-user spending on public cloud computing to 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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Written By: Zacks Investment Research