Coronavirus Update: Germany warns of 20,000 daily cases, Russia start producing second vaccine

Peter Altmaier, Germany's Economy Minister, has warned that his country could see 20,000 new daily COVID-19 cases per day by the end of the week. The senior official warned that infections in Germany are growing exponentially. Reports suggest that Chancellor Angela Merkel is considering a "light lockdown."

In neighboring France, authorities are reportedly contemplating expanding the curfew hours in several cities including the capital Paris. The nation announced a daily caseload of 50,000 over the weekend. 

Russian news agency Tass said that the country has begun producing a second coronavirus vaccine. President Vladimir Putin previously stated that his country registered the world's first vaccine. 

S&P 500 futures are marginally higher on Tuesday after a fall on Monday, fueled by growing covid concerns.