There is a trend worth keeping our eye on in the US post- the 25rd May holiday, where in many states the # of new cases vs the amount tested as risen. R<0 has not gotten below 1 and therefore the reopening and the mass protests may well see this accelerate. Time will tell...
Alabama (very high infection rate) 
Alaska (still low however):
Arizona (very high infection rate)
Arkansas:
Florida:
Kentucky:
New Hampshire (pretty low still)
New Mexico (pretty low still)
North Carolina:
Oregon (still very low)
South Carolina
Tennessee
Texas
Utah
Washington
The Memorial Day effect is rather pronounced. The reopening will likely push these higher. It remains to be seen how the protests effect the states. In some states masks were prevalent (NYC) and in others they were not.
The bigger issue is that the numbers of the cases remain very high in the US, ex-NYC and New Jersey, and the R<0 remains well above 1 in all of these states (having come down considerably due to lock down).
I don't want this to be to do with political opinions of reopening vs lockdown, just facts. You may decide it's worth the risk due to relatively low death rates, you may decide it isn't worth the risk due to second wave effects.
We don't know the impact of weather but we do know if that is the R<0 is greater than 1 and large numbers remain affected then the growth rates can be dramatic. The current number of daily cases, outside of NYC and NJ, highlights that risk.
The other data set we have is the rise in Muslim countries, particularly in the Middle East after Ramadan and the Iftar effects. They too failed to get the R<0 below 1 before allowing gatherings and movement. Again, you may decide the risk was worth it or not. That is your choice
But with the uptick in many US states and the huge rise in cases in emerging market countries, this is not going away for a long time and many things assumed to return to normal such as international travel, will not.
I don't see YoY GDP growth globally rising above zero for the rest of the year and even well into 2021. Stocks don't care for now, or at all (I have no position and haven't since late March), but the risks of solvencies will very likely rise over time.
