Investors have weighed evidence of an economic recovery against a rise in reported coronavirus contagions in some countries and states. Traders are worried about Texas and other states having to roll back their reopening plans as infections surge.
“While the initial stages of lockdown easing have delivered a substantial bounce in activity, the next phase of the transition to normal will be far harder and the speed will be contingent on the number of new COVID-19 cases,” Ben May, director of global macro research at Oxford Economics, said in a note. “The renewed rises in COVID-19 cases in parts of the U.S. is a clear worry.”
“The world is increasingly becoming bifurcated, with the U.S. and China at opposite poles,” BlackRock analysts said in the firm’s 2020 Midyear Outlook report. “Domestic polarization is on the rise, too, with the U.S. presidential election set to take place against the most tumultuous domestic backdrop since 1968. The two parties are as far apart on policy as they have ever been, making the result consequential for markets.
The outlook for the U.S. economy is"extraordinarily uncertain" and the success of the recovery effort will depend in large part on the country's ability to contain the spread of the pandemic, according to testimony from Powell released Monday by the Fed. Markets overseas were buoyed somewhat by stronger than expected manufacturing data from China, the world’s second-largest economy. But other new economic indicators were mixed.
Highlights the disparity between the have and have nots. 130,000 dead, soon to be half million, tRUmp not trying to stop it. 40 million out of work. tRUmp/Putin using American soldiers for target practice. And the Stock Market rises. The Market means nothing to 99% of the country
The big drop is coming....
Stocks are down from the beginning of the year. But hey!
Meanwhile millions of Americans face evictions.
Blame it on the President?
Good for the wealthy; But, What about the 47m unemployed?
America is so screwed.
No they are anticipating all the evictions that will start tomorrow and all the venture capital funds that will buy those up, jack up renting rates and take away what's left of affordable housing.
Wall Street happy, congress is going to through billions more to keep things going. Can't believe nobody is asking why we keep doing this. Each time we have had a crisis Wall Street needs to be fed. What really happens if we don't feed it?
So the stock market is not the economy?
well you can say 'best quarter since 1987' or you can say 'clawed their way back to a smaller loss on the year so far'.
Amazing..
It is only the best quarter because it started so low. We are now where we were about a year ago.
This news doesn't help anyone but the 1 percent.
The rich get richer and the poor get poorer. The stock market isn’t the economy but realDonaldTrump will somehow claim a “win”. Lol
It's all a mirage.
Rrrrrrrrrrrright... HAHAHAHAHAHAHA
A positive tweet? Someone must have hacked
Flash boys making lots of $$$
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