The S&P 500 rose 1.9 percent last week even as the number of COVID-19 cases continued to rise in the US following the re-opening of the economy.
The US reported more than 30,000 new coronavirus cases on Friday and Saturday, the highest daily totals since 1 May, according to data compiled by Johns Hopkins University.
The Centers for Disease Control and Prevention now forecasts between 129,000 and 145,000 total reported COVID-19 deaths by 11 July.
Globally, the World Health Organization reported a record increase in COVID-19 cases on Sunday, with the total rising by 183,020 in a 24-hour period.
Brazil, the world’s No. 2 COVID-19 hot spot after the US, hit a total of 1,085,038 confirmed cases and 50,617 deaths on Sunday, with experts saying that the true numbers are much higher because of a lack of testing.
Even countries that had previously brought the disease under control are seeing a resurgence in cases.
China reported on Sunday 26 new confirmed coronavirus cases for 20 Jun, with 22 cases in Beijing. A fresh cluster in the capital has resulted in parts of the city being sealed off.
In Germany, health authorities reported that the coronavirus reproduction rate jumped to 2.88 on Sunday, up from 1.79 a day earlier, indicating a rising infection rate.
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