Stock market fears of coronavirus outbreak GettyWhile stock markets can always rebound and move higher, it appears that spiking coronavirus cases, very high valuations and maybe some profit taking at the end of the quarter have ended the bear market rally. The NASDAQ NDAQ has been the best performer and kept the S&P 500 from falling even further. Coronavirus cases spiking in Arizona, Florida and TexasSince early to mid-June coronavirus cases on a seven-day moving average have increased 300% to 400% in Arizona, Florida and Texas. Arizona's daily and 7-day average coronavirus cases Worldmeters.infoFlorida's daily and 7-day average coronavirus cases Worldmeters.infoThroughout the United States only four states per CovidActNow.org show that they are on track to contain the coronavirus. S&P 500 forward PE ratio FactSetAt the beginning of the year the S&P 500 companies were projected to earn almost $200 ($196.57 to be exact) by FactSet.

Source: Forbes June 26, 2020 21:33 UTC