Skip to comments.The economy is collapsing like never before. Yet US stocks posted best month since 1987
Posted on 05/01/2020 5:04:20 AM PDT by MeneMeneTekelUpharsin
New York (CNN Business)The coronavirus pandemic has exposed a gaping disconnect between unprecedented economic pain on Main Street and extreme optimism on Wall Street. The US economy is collapsing as never before. More than 30 million Americans have filed for unemployment. Millions of small businesses have requested forgivable loans to stay alive. And US GDP could decline at a breathtaking annualized rate of 40% during the second quarter.
And yet the stock market is racking up massive gains. Even after retreating on Thursday, the S&P 500 spiked 13% in April. It was the best month for US stocks since January 1987. It's common for Wall Street to price in a recovery long before Main Street feels it. The stock market is not the economy, after all. Investors look three to six months out into the future.
(Excerpt) Read more at cnn.com ...
The last picture show before the election. Somehow they are tied to china and this pandemic Im sure of it and it will come out just like the AZ man who ingested fish tank chemicals was trump fault and now his wife was arrested for murder
CNN sounds disappointed in the stock market.
Doom and gloom sells. “If it bleeds, it leads.” CNN is in the business of sensationalism, not news, and they are struggling even at that.
Everything is support of command-and-control. This may be known as “socialism” or “Communism”, but actual socialism or Communism, as described by Karl Marx, is a chimera that can never be achieved. But hey, the PROMISE looks great.
Somehow they are tied to china and this pandemic Im sure of it and it will come out just like the AZ man who ingested fish tank chemicals was trump fault and now his wife was arrested for murder
I think so, too. All the networks. All the Democrats. Some Republicans.
THEY “are all in this together”.
I saw it that way too.
The stock market is not about current conditions.
The stock market responds to what people think the future is going to be like.
This is an indication of confidence in President Trump and his re-election.
The stock market is reflection of the confidence we have in Trumps ability to fix this. This will not be the dem/media last shot at Trump. You cant have a presidential election without a BS media October Surprise. Rest assured, theyll create something new and more ridiculous than all the other surprises weve seen over the last four years.
The markers is propped up by the fed.
Wonder what they are thinking of next, photo editing Trump’s head over Biden’s for all of the groping videos?
Markets look at it this way: It can't get any worse / it can only get better from here = time to buy, buy, buy.
Yes, I know, but what you said (not coming from me).
CNN people getting margin calls on their short positions? Ha
The Democrats and the media have jumped on this as one last attempt to get Trump out of office.
The only thing that matters to them right now is Trump not being re-elected. From that standpoint you can predict what will happen between now and November. IOW, nothing good that will help Trump.
We’ve got a battle on out hands between now and November. I’ve been vocal about this not being the flu but nonetheless it is time to begin opening the economy using common sense and not fear. There is no other choice. But it looks like those that oppose Trump are going to do everything possible to see that that does not happen. Hopefully the stock market growing shows who the smart money is betting on prevailing in this battle.
ROFL. Probably so.
News of reopening then. That and they know people have pent up energy and are slightly depressed so they will be doing $omething $pecial for themselves.
As soon as any given State opens, they need to get rid of that extra $600 for unemployment so that people will be less apt to stay at home.
If people are offered their job back, can they refuse it and continue to stay on unemployment?
Never been on it myself so I don’t know much about it.
The markets are confident Jerome Powell will step in and buy up all bad debt. Whether this insane Fed promise can keep the markets up for six years, or six months, or maybe only six weeks - we cant know yet.
The fundamentals for most industries remain very sound. Yes, aviation, recreation, and oil are gonna be hit. Oil has already rebounded by some $17 at the lowest end, or a $54 gain in two weeks.
Entertainment, casinos, sports, hotels are all going to depend on how fast THEY return to normal, not how fast their states open up. In states that are open, no one will go to a sporting event if you are wanded, have your temperature taken, and have to wear a mask. Ditto casinos, restaurants. Won’t happen.
So businesses can either get on the train now and say, “We’re open-—really open”-—or stay shut. No middle hear with fear.
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