Click HERE to access the FSInsight COVID-19 Daily Chartbook.
Daily new COVID-19 cases came in at 22,734, down an astonishing -15,514 vs 7D ago. On the surface, this is great organic progress and shows the disease is retreating. In fact, even AZ only reported a mere 81 cases on Tuesday, the lowest since March 2020. However, keep in mind:
- Labor Day was Monday, so the holiday effect going to impact yesterday's case number
- Daily tests were ~520,000 on Tuesday vs 800,000 last week
- But positivity rates still fall to 4.3%, good thing
So I am inclined to say the trend remains positive but the 22,734 figure is artificially good.
Tom Block, our Policy Strategist, notes that Washington is still at a standstill regarding another relief package. And from his perspective, a scenario that could move this forward is pressure from Democratic House members when they return next week. And this could result in a bill before members break for the election. See his comments below.