Stocks were lower on Tuesday as coronavirus cases continue to rise.
 | TUE, JUL 07, 2020 | | | | DOW | | NAME | LAST | CHG | %CHG | | BA | 178.88 | -9.03 | -4.81% | | MSFT | 208.25 | -2.45 | -1.16% | | WMT | 126.95 | +8.06 | +6.78% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | AAL | 11.91 | -0.89 | -6.95% | | GE | 6.76 | -0.24 | -3.43% | | BAC | 23.01 | -0.65 | -2.75% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AAL | 11.91 | -0.89 | -6.95% | | UAL | 32.55 | -2.66 | -7.55% | | MSFT | 208.25 | -2.45 | -1.16% | |
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The stock market appeared to be losing its optimism on Tuesday as coronavirus cases in the U.S. continued to climb. Cases have more than doubled since mid-May, with more than 2.9 million people infected and more than 130,000 dead, according to data from Johns Hopkins University. Stock investors have long been betting on a swift economic recovery, but now states, including Florida, Texas and California, have paused reopening plans. The major indexes were lower Tuesday, and the Nasdaq - riding high on tech stocks not affected by the virus - hit an intra-day peak before falling lower.  Reopening and reclosing businesses is both expensive and "cruel," billionaire restaurateur Tilman Fertitta told CNBC on Tuesday. Restaurants have to stock up on food and rehire employees. And if they're told to shut down again, they have to bear those costs and lay off their employees again. "It's cruel and inhuman what we're doing to people right now," he said. "I'll survive this, but what we're doing to them is cruel." The inconsistent, state-by-state approach to the pandemic isn't working. "At some point we've got to take all of the politics out of it" Fertitta said. "Let's get all the best in one room and let's put out a plan for the United States of America." Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. |
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