RIVERSIDE (CNS) – Riverside County health officials report another 11 cases of novel coronavirus, bringing the county’s total to 59, with the death toll unchanged at six.

Six of the new cases come from the northwestern pocket of the county, three were reported in the Coachella Valley, and two in the county’s southwestern region, according to Jose Arballo, spokesman for the Riverside University Health System.

The county’s COVID-19 case map shows the Coachella Valley with the highest count of prior or ongoing infection at 28, where all countywide deaths have been reported. The northwestern county now stands at 19 cases, the southwest region at 10 and the mid-county with one.

Another resident who acquired the virus while traveling aboard a cruise ship remains in Northern California, officials said. Out of the 59 total cases, 24 were determined to have been acquired locally, four were travel-associated and 31 are under investigation to verify
origin.

Cities across Riverside County have implemented local emergency measures synthesized with the county’s requirements and recommendations from the California Department of Public Health. Last week, Gov. Gavin Newsom asked for seniors and people in compromised health to self-isolate at home wherever possible to reduce exposure risks. The governor also asked for bars, wineries and night clubs to reduce services. There was no formal order associated with the announcement, only voluntary action.

However, the governor followed the request with an executive order Thursday advising that all individuals who are not involved in essential services to stay home whenever possible.

In the Coachella Valley, where the county’s first infections were reported, most local cities have closed public buildings, canceled events or taken measures more aggressive then county or state mandates.

Palm Springs officials on Tuesday ordered the immediate closure of all golf courses, trails and public parks within city limits. And new restrictions went into effect in Palm Springs barring all vacation rentals or hotel stays, unless they are related to COVID-19 response efforts. Violators can be fined $5,000 for their first offense, $10,000 for their second and
$25,000 for their third, the order reads.

Rancho Mirage city officials on Monday issued a similar order that also barred temporary rentals, which is set to remain in effect until June 1 unless amended earlier.

Casinos and entertainment venues countywide also remain shuttered.

Frequent hand washing, social distancing and basic hygiene were emphasized as good precautionary practices against viral infection.

COVID-19 symptoms are comparable to the flu and include fever, coughing and respiratory distress. A person usually develops the symptoms within two weeks of exposure, according to the CDC.

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News broke that a new health epidemic labeled the “Coronavirus” had broken out on several continents. It broke out in Wuhan, China and recently the number of infected rose to 5,974 in China. The death toll climbed to 132 with most cases in Hubei Province, epicenter of the outbreak. Almost 60,000 patients are under observation. The United States and other countries have been evacuating their citizens.

This is having a heavy impact on trade with China, with Disney closing their park, Macau casino shares plunging, and Toyota halting production in China. The World Health Organization Emergency Committee is meeting Thursday to consider declaring a global crisis or not. The WHO is stating that it spreading outside of China is a “grave concern.” Right now major airlines are canceling flights into the area. Riverside County was in the news as the monitoring location for evacuated U.S. citizens with authorities using March Air Reserve Base due to the logistics. There, the passengers will be screened after already being screened twice, en route.

Treasuries fell and inverted shortly as the news broke. As the Fed Chairman spoke Wednesday, he stated they are staying the course and holding rates steady. They did downgrade consumer spending from “strong” to “moderate.” Exports and inflation are running below target and they remain committed to an inflation-rate at target.

In 2003 the SARS outbreak contributed to a global slump of about 10%. Yes, the economy was at a different point than it is now, but there are still relevant points: when the SARS outbreak was contained, the market finished up by more than 26% for the year. History shows that the “SARS economy” had a few small drops (two) and then a deeper drop before rebounding. It seems it was prevalent when the WHO released a statement due to its being a global threat. The key time to buy it seems is when the WHO makes the announcement. This is setting up a possible volatility in the market and I believe that if the market extends downward, this would be a buying opportunity.

(Corona-virus)

On a positive note, consumer confidence jumped to 131.6 from 126.5 in December. Negative news shows that in December, pending home sales fell by 4.9%. however, December is notoriously a slow month for the housing market. The positive news here is that year-over-year December was up. President Trump has re-engaged a dialogue with the Feds, saying it should cut rates so the US can pay down its debt. With January wrapping up, it seems the economy has started off on the right foot.

If you have questions on a particular company or investment and would like our feedback, contact us at my email below. Our team will research and respond to you with our recommendation and opinion.

Andrew F. Kotyuk, CIMA* is CEO and Principal of Alpha Wealth Management LLC. For questions or investment topics please email me afkotyuk@alpha-wealth.com.

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