Posted on 05/09/2020 11:23:50 AM PDT by SeekAndFind
The latest jobs report revealing record U.S. unemployment highlights a growing rift investors are struggling to reconcile: a rallying stock market and stumbling economy.
Gains in U.S. stocks accelerated Friday after Aprils nonfarm payrolls report showed unemployment rose to 14.7%, the highest level on record. It was the latest head-scratching development for many market observers, who have been parsing a steady stream of abysmal economic data while watching the U.S. stock market stage a recovery.
[SNIP]
Many analysts are looking past the grim economic data, forecasting a speedy recovery as state economies open back up across the country.
New York, which has been the hardest hit by the pandemic, has begun developing a plan to restart its economy. Other states are farther ahead, with more than 20 allowing some businesses to reopen. Nevadas Gov. Steve Sisolak said some businesses including dine-in areas of restaurants would be allowed to reopen Saturday with social distancing and occupancy limits. Those moves have encouraged investors that the economy is poised for a rapid rebound by early 2021.
Additionally, the number of new Covid-19 cases has moderated in the U.S. And stocks have surged on any signs of progress toward a potential vaccine.
People are making the bets
.that this is the bottom, said R.J. Grant, director of equity trading at KBW. Still, he said, The market is really divorced from economic reality right now.
(Excerpt) Read more at wsj.com ...
We are going to pay. All of the rules of economics demand that someone will pay, somehow, no matter what. It's not going to be pretty when it happens.
November 7 Dow +1.9%
November 8 (election day) Dow slightly higher
November 9 Dow +1.4%
As I recall, gloomy MSM commentators were talking about a huge drop in the Dow futures on election night, as it was becoming obvious that Trump was going to win. Trump was going to be a financial disaster they said.
I don’t know if that drop was even true, but it sure didn’t have a lasting effect.
The market is looking out beyond the immediate future and sees pent-up demand and lots of growth coming.
Black Plague killed
Half the Worlds
Population
in the 1300s’
Between 2010 and 2015
It killed almost 600 People
The plandemic is not over yet.
Because the fed is giving away money and they are starting to buy EFTs directly. Plus other central banks are buying out stocks. Finally, MOST of the gains are based on a few stocks. Everything else is dead in the water
The market is not based on any rational stats. There are no earnings. There are no forecasts. Its just folks gambling.
but it sure didnt anticipate the havoc raised by COVID!
“The day before Trump won in November of 2016, the market
made a huge move up.”
This pre-election rise was widely reported at the time by the MSM to reflect the market’s expectation that Hillary would win. Just before midnight as election results were coming in the Dow futures were down almost 900 points. Then, as a Trump victory became a real possibility, the futures began a huge turnaround. By the end of the next day, the Dow was up about 260 points and finished near all-time highs. I was watching the election coverage on CNBC, which simultaneously showed the Electoral College count and the Dow futures. It was a beautiful thing to watch.
Because investors realize that Trump will be reelected, and that biden wont be, and that this insanity will soon stop.
My thoughts exactly ... the market is clearly reading in a Trump reelection
Be careful, bankers.
You can't hide it much longer.
I just did an experiment. I went to the grocery store, in Maryland which is still under heavy tyrannical lockdown. I DID NOT wear a mask.
I had one (a Trump 2020 mask) but kind of wanted to see if anyone cared. I even engaged with 2 or 3 employees.
No one said a word. It makes me think that most people are conditioned to go along with the charade but deep in their hearts, they know it’s a charade. They are done.
The company I work for is publicly traded on NYSE. Their stock took a hit when this whole thing started as did everyone else’s.
I missed the great window but not by much. It’s up about 15% in just a few weeks
... because there is light at the end of the tunnel.
And, Trump is in charge, not a brain dead clown like Biden.
........................................................
Well and truly said and every word of it!
This evil lock down is nothing but a war on small businesses, the middle class, and the working poor.
....................................
Nonsense!
Less than 3% of counties produce half of U.S. GDP.
There is a graphic that shows where those counties are.
Small businesses were the sacrificial lamb in this stupid move.
..................................................
Small business will come back stronger than ever. Take it to the bank!
They discovered a big deposit of Face Masks and Ventilators in South Dakota so they started Fracking.
My point is
We’ve “Flattened the Curve”
We have treatments and
Bed Space
and
CHICOMS virus will
Be here,
That is ironic!! I just came back from a grocery a few minutes ago. Where I live people are stripping the masks and are easing the social distancing. Spoke to several and said the CDC and state government over did it!!
+100! That is a really good point and I felt that way too.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.