Posted on 06/07/2020 6:45:43 PM PDT by John W
“The market has been a ray of sunshine — basically investors being convinced that we’ll get out of this, and the economy will recover along with earnings... The economy may very well be catching up with the stock market rather than the stock market going off on its own.“
That’s Edward Yardeni, president of Yardeni Research, explaining to CNBC why he believes the historic May jobs report will ultimately be a game-changer for Wall Street.
In other words, he believes such a massive rebound in the employment number flies in the face of the popular notion that the rally is disconnected from what’s really happening in the economy.
“With the benefit of hindsight, [the jobs number] kind of makes sense because we had the Paycheck Protection Program that was basically implemented in April, encouraging small businesses to keep people on their payrolls,” said Yardeni, a longtime Wall Street investment strategist.
(Excerpt) Read more at marketwatch.com ...
Not to my pocketbook.
It’s only the machine that allocates capital toward its best use. So far, the most efficient machine ever devised in the history of mankind to improve the Human Condition.
Well, congratulations are in order, then.
I feel so much better.
I rest my case. By your own admission, your condition has improved.
So, whats going to happen?
Donald J. Trump
@realDonaldTrump
Big day for Stock Market. Smart money, and the World, know that we are heading in the right direction. Jobs coming back FAST. Next year will be our greatest ever!
10:31 AM · Jun 8, 2020
We have a new word - SURPRISINGLY to replace UNEXPECTEDLY
https://www.wsj.com/articles/global-stock-markets-dow-update-06-08-2020-11591592116?mod=hp_lead_pos1
U.S. Stocks Rally, Nasdaq Hits Record
Michael Wursthorn and Anna Isaac
U.S. stocks rose Monday, putting the Nasdaq Composite at a record close, as investors continued to assess the pace of the economic recovery.
Friday’s surprisingly upbeat jobs report continued to stoke investor demand for stocks, analysts said. Shares of airlines, retailers, cruise liners and other companies tied to the reopening of the economy led the market higher.
We have a new word - SURPRISINGLY to replace UNEXPECTEDLY!
What a great surprise for our unexpected good results.
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