Those are the numbers, and I will repeat they will mean ABSOLUTELY nothing even though these numbers will be historical. I predict zero chances of wallstreet dropping on this news tomorrow morning and actually a rally!!!! Yep a minimum 1% rally coming!! https://www.businessinsider.com/apr...-decline-unemployment-rate-coronavirus-2020-5
Futures already starting to lift off for tomorrows opening!!!!!! Upping it to a 2% skyrocketing open!!! Dow 30 23,965.5 DERIVED 20:07:14 | Futures +122.5 +0.51% S&P 500 2,896.12 DERIVED 20:07:14 | Futures +16.12 +0.56% Nasdaq 9,160.50 DERIVED 20:07:16 | Futures +52.75 +0.58% SmallCap 2000 1,293.10 DERIVED 20:07:19 | Futures +8.30 +0.65%
People probably think that companies are trimming the fat. They are mostly right. The unprecedented lay offs have been a convenient way for companies to gain sympathy while cutting the bottom performers. Obviously nearly 30-40% real unemployment (where we are now) is not all "low performers". Certainly though the market thinks so. Remember the 16% people keep quoting is comprised of the unemployed still looking for work. Since the work requirements have been stowed for now w.r.t unemployment it's likely this number is 2-2.5x greater in reality. Why would you return to work when unemployment and stimulus pay you more than your day job?
Wouldn't be surprised to see the Fed announce yet another stimulus package tomorrow. Stimulus every week.... soon you're talking real money.
This package will be a couple of trillion, more bailouts for states and local governments. Keep that printing press on full capacity. Almost up to 50% of our yearly gdp!!! Should be at 100% by end of summer. Maybe thats another reason futures are bright green tonight!!! Stimulus every week...only way to keep markets up and totally disconnected from reality.