Investor Mario Gabelli struck a positive note on Tuesday on the U.S. economy even as coronavirus cases in the country are on the rise.
More than 8 million coronavirus cases have been confirmed in the U.S. alone, according to data from Johns Hopkins University. A CNBC analysis also found that cases are growing by 5% or more in 35 states.
This recent infection increase comes as the latest economic data shows signs the U.S. recovery may be stalling. However, Gabelli thinks the U.S. economy will continue to recover into the new year.