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Main Street thinks Wall Street is crazy. Wall Street thinks Main Street is going to be relatively OK.
That’s the apparent message after the Dow Jones Industrial Average DJIA, +1.90% jumped more than 400 points Friday and stocks continued a torrid rebound despite data that showed the U.S. economy shed more than 20 million jobs in April. Lockdowns aimed at containing the deadly COVID-19 pandemic pushed the unemployment rate up to 14.7% — a postwar high that economists said likely understates the devastation.
Advisors and analysts say they have been inundated with calls from clients asking why stocks keep soaring as the economic data grows uglier by the day.
They have a well-worn list of reasons: the market is forward looking and has already anticipated a sharp but short recession; there are tentative signs the outbreak has peaked; progress toward treatments and even, potentially, a vaccine; the Federal Reserve’s unleashing of unprecedented monetary stimulus and lending backstops, with the promise to do more; and a raft of federal spending aimed at shoring up workers and companies, albeit while drawing mixed reviews.
In spite of Democratic governors (and some GOP ones) doing their best to lengthen the shutdown and destroy the economy, Wall Street sees them as failing. Once more their attempts to harm America seems to be coming to naught. It's sad the short-term pain they are causing the citizens in their states, but the long term damage may not stick.
And some economists and investors have argued that efforts to contain the virus, while economically painful in the short term, will avert the much deeper economic hit that would come if the spread was to reaccelerate
Indeed, Bryce Doty, senior portfolio manager at SIT Fixed Income Advisors, argued that the stock market was boosted by Friday’s dismal jobs number precisely because investors see the near-term hit to employment as a sign of the country’s resolve to contain the pandemic https://www.marketwatch.com/story/wh...ing-2020-05-09
In spite of Democratic governors (and some GOP ones) doing their best to lengthen the shutdown and destroy the economy, Wall Street sees them as failing. Once more their attempts to harm America seems to be coming to naught. It's sad the short-term pain they are causing the citizens in their states, but the long term damage may not stick.
Dowj is trading on hope that we will reopen. Not market fundamentals. Expect another crash, a deeper crash, soon. Very soon.
In spite of Democratic governors (and some GOP ones) doing their best to lengthen the shutdown and destroy the economy, Wall Street sees them as failing. Once more their attempts to harm America seems to be coming to naught. It's sad the short-term pain they are causing the citizens in their states, but the long term damage may not stick.
Gee, how inconsiderate of those "Democratic Governors" to be concerned about their constituents enough to want to keep them alive !! What inconsiderate idiots they are ! It is much better to have someone like Trump, who could care less if it is 15 people dying or 120,000. So what if thousands of people die each day, WE WANT OUR JOBS !!
Gee, how inconsiderate of those "Democratic Governors" to be concerned about their constituents enough to want to keep them alive !!
Tell that to all the nursing home residents in New York City that were killed because of a democrat governor's decision to directly expose them to COVID-19...
Tell that to all the nursing home residents in New York City that were killed because of a democrat governor's decision to directly expose them to COVID-19...
That "story" has about the same validity as the Sandy Hook killings being faked. I know you guys love them conspiracy tales, but the rest of us prefer reality.
The reality is, if Donald Trump had exhibited a fraction of the compassion and leadership that Cuomo has shown, this country would be in much better shape right now. Cuomo has been a true leader, doing his job with intelligence and hard work.
In spite of Democratic governors (and some GOP ones) doing their best to lengthen the shutdown and destroy the economy, Wall Street sees them as failing. Once more their attempts to harm America seems to be coming to naught. It's sad the short-term pain they are causing the citizens in their states, but the long term damage may not stick.
Our economy is going to be screwed for many, many years. There will be no quick fix, no matter what Trump says. Until a vaccine is found many people won't go out and patronize these places that want to open up. What a mess we are in.
The extended shutdown is not primarily about destroying the economy.
It's about using the shutdown as an excuse to get mail-in voting up and running so they can cheat their way to the presidency in 2020.
Never forget that Trump is the primary enemy of these people and they absolutely will not quit until the election is over.
How is Mail in voting 'cheating"? Republicans don't vote by mail?
Trump supporters need to loosen their Tin Foil hats.
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