Everybody see that this morning? And in spite of retail sales falling -16%. How can that be rational considering all the lockdown, unemployment, etc...? Trump must be giddy!
No, Trump has bigger problems in his upper room. In the left side of his brain nothing is right, and in the right side nothing is left.
Market believes it is transitory - or at least transitory enough where the Fed can patch up the difference in the meantime. Here in Belgium, schools, clothing stores and hairdressers are reopening on Monday...the European experience over the next couple of weeks should give the US a good indication of what to expect as you reopen.
Not many nail salons and barber shops in the S&P Retail Index. One could argue that this crisis is actually improving the long-term prospects of big listed retail (with a few exceptions like department stores) as their smaller unlisted competitors have been wiped out almost overnight.
Yes. Market is betting Fed pumping will hold everything together until the economy and earnings catch up to prior level (bad bet in my book... worse than "bad"... more like foolish/crazy/stupid... but maybe I'm wrong).
It will take at least 3 weeks before there will be any reliable results. Trump will not wait that long. He is afraid for the negative influence on his reelection. But this might come back as a boomerang in his face... In Wisconsin all bars are already open and crowded. The governor did not agree but Trump is encouraging the people not to listen to the governor. https://www.latimes.com/world-natio...opening-wisconsin-brings-concern-trump-praise