Posted on 07/06/2020 8:50:25 AM PDT by SeekAndFind
Stocks rose sharply Monday morning, after new economic data showed a much stronger than expected rebound in US service sector activity in June. The upbeat data helped investors shake off fears over rising coronavirus cases, with infections continuing to march higher globally and domestically.
The three major indices also followed global equities higher, with stocks in Europe and Asia gaining after an editorial in China’s state-run media outlet the Securities Times suggested the country prioritize fostering a “healthy” bull market after the pandemic. The Shanghai Composite index closed nearly 6% higher for its biggest gain in five years.
Developments in the crisis continued to march from bad to worse over the long holiday weekend. New COVID-19 cases in some of the new hot spots in the South and West rose by records — including in current epicenters Florida and Texas on Saturday. The World Health Organization said a record 212,326 coronavirus diagnoses were confirmed globally in 24 hours as of Saturday, with the United States, Brazil and India showing the largest increases.
The Lone Star State reported 3,449 new cases of COVID-19 as of Sunday for a 1.8% rise over the prior day — bringing the total number of infections so far in the state to 195,239. Arizona’s one-day case increase of 3,536, or 3.7% over the prior day, was slightly below the state’s two-week average growth of 4.1%. Florida on Monday reported a one-day increase of 3.2%, coming in below the seven-day average of 5.1%.
Elsewhere, New York City entered Phase 3 of its reopening process on Monday, bringing with it the reopening of spa, tanning and nail salons, massage parlors, tattoo parlors and some youth sports. The city, however, pulled plans last week to reopen indoor dining as part of Phase 3.
(Excerpt) Read more at finance.yahoo.com ...
Liberals and deep staters hurt most.
The powerful current strong economy cannot be derailed once we open the economy up. Which is why the media and the Dems are so upset about the kids catching the Kung Flu.
It bears remembering that the DOW average for 2016 was 17,927.
Bump
Probably another unexpected reality!
Investors are looking at the deaths curve and not the over-hyped cases curve.
They also see people chomping at the bit to get things back to normal.
The expectation is five years from now, it will be as if this never happened. Basically the same thing with the 2009 H1N1 Pandemic, everybody pretty much forgot about it within a few years.
Partner, I will say it once and that is "The Business of America is Business."
You know, it’s interesting. I bought a small pile of masks that I broke out for this event. Packing slip date says I bought them post-SARS, pre-H1N1. Never touched them during H1N1.
Which is why ocassionally I post the link to this thread from 2009-2010, over 8,000 posts, a lot of doom and gloom there as well.
http://www.freerepublic.com/focus/news/2278371/posts
“Investors are looking at the deaths curve and not the over-hyped cases curve.”
You win the Kewpie Doll!
Wonder if they want Trump elected in November....and a higher market would help...or will it crash the first of October
The question is who is buying all this stock, the CCP?
During the Vietnam era, every night the big three tv stations were gushing about the daily death count of our guys. They, along with Lurch and Fonda, fueled and emboldened the North’s resolve.
Our plan is to get out of the market before October and wait it out.
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