Here’s what you need to know about the impact of Covid-19 to navigate the markets today.
• Members of more than 50 labor unions, civil rights organizations, and advocacy groups across the U.S. participated in protests and walkouts today against systemic racism and inequality in workplaces and communities. The Strike for Black Lives, organized by the Service Employees International Union, called for workers to hold a moment of silence in their workplace for 8 minutes and 46 seconds–the amount of time a Minnesota police officer allegedly kneeled on George Floyd’s neck during his fatal arrest–or, if possible, to leave work. Protestors organized in New York City, Chicago, San Francisco, and other major cities.
and Family Dollar reversed their policies requiring customers to wear a mask, and instead said they will request customers wear face coverings in cities and states where local authorities do not mandate it, according to USA Today. Southeastern Grocers, which owns Winn-Dixie, Harveys Supermarkets and BI-LO, said today it would not enforce masks for shoppers in order to avoid “undue friction” between customers and associates, according to Fox News. Large retailers like
Kroger and CVS have recently announced stricter mask-wearing rules for customers.
• Florida’s coronavirus outbreak is “totally out of control,” a Democratic congresswoman said Sunday, with the state reporting 12,478 new cases on Sunday, according to the Covid Tracking Project. That’s the sixth-straight day the states has reported more than 10,000 new Covid-19 cases for the past 6 days in a row. Rep. Donna Shalala (D., Fla.) said in an interview with ABC News that given there is still clear community spread in the state, where new cases emerge that cannot be traced to exposure to a specific infected person, it’s “ridiculous” to push to opening schools as usual. “We need to close down in Florida,” she said. “Our economy will not come back until we meet this virus at its head and bring it down.”
(ticker: KR) said it will give its employees take-home Covid-19 tests as it tries to protect its workers and customers from coronavirus infections, The Wall Street Journal reported. The tests will be processed by Gravity Diagnostics, a Kentucky-based lab company, and Kroger said it will be able to run 60,000 tests a week by the end of July. Kroger has just under 2,800 stores across the U.S. and well over 400,000 employees. Kroger and Gravity Diagnostics received authorization for the kit from the Food and Drug Administration in June, the WSJ reported.
• Trader Joe’s is changing the packaging on some of its items, after a petition called on the company to remove racist packaging. Numerous items in Trader Joe’s stores are branded with ethnically stereotyped variations of the company’s name. The company said that the labels, such as “Trader Ming’s” and “Trader Jose’s,” were meant to be “lighthearted” but would change the offending labels.
• New York City, once epicenter of the U.S.’s coronavirus outbreak, entered a modified version of the state’s fourth phase of reopening on Monday. The fourth phase will not include any indoor dining, museums, gyms or movie theaters, which were initially part of the state’s guidelines but have been linked to outbreaks in other states. Instead, the main change for the fourth phase will be that the city’s zoos and botanical gardens will reopen with a reduced number of visitors allowed.
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