Angry clashes between civilians and law enforcement, including fires near the White House, aren’t expected to have long-term economic implications, but the protests come as many retailers and businesses are still swooning from the pandemic and were caught up in looting and vandalism that ensued during the weekend demonstrations.

“The direct economic impact of the protests is small, at least so far,” Mark Zandi, chief economist of Moody’s Analytics, told MarketWatch.

“Just when people were starting to come out of the proverbial bunkers, the protests may be too much for them, and they will go back in,” he said.

“The protests are also symptomatic of just how deep the economic problems and racial tensions go in our country,” the economist said.

“It’s a triple whammy of protests, plus raging pandemic, plus economic instability.

Meanwhile, President Donald Trump’s actions against China were viewed as less confrontational than had been expected

Upbeat economic data from China may also bolster the market’s mood

The Caixin China manufacturing index was at 50.7 for May, compared with an April reading of 49.4

The data suggests that China, where the novel strain of coronavirus originated in Wuhan, may be showing signs of improving

Looking ahead, investors will be watching for domestic economic data, including Markit manufacturing PMIs for May due at 9:45 a.m

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