The U-3 is currently 11.1% but 32.9 million received some sort of unemployment benefit last week. That's 24% of the workforce. If we are not in a recession than I'm not sure what a recession really is.
%% WELL here is the way I read it; Nasdaq/QQQ making good highs/ uptrend/extended+ may get more extended.CNBC was the ''predictor of bird flu epidemic/that never happened also.'' DAL sector is in trouble again ; but DAL went bankrupt with no virus. As far as rioters/screamers/looters catching the virus more?? That could be a good thing also
Florida reported record new cases. This means another 2-3% market rally this week. https://www.cnbc.com/2020/07/12/flo...-new-coronavirus-cases-shattering-record.html
I guess the question if "all you keep hearing" is who are you listening to? Given this is ET, probably the markets? If you were talking to small business owners every day, or people in the bottom third of the income bracket, or people working at hospitals (which paradoxically are losing tone of money) then all you kept hearing would be substantially different.
Funny, they had 45 deaths in a day, and that is a big deal? During NY's peak they were 400+ per day. So what is the problem?
Virus cases up.futures up Going to be a huge up week. 2-3% Dow Jones 30 26,134.0 DERIVED 18:31:38 | Futures +97.0 +0.37% S&P 500 3,194.75 DERIVED 18:31:38 | Futures +15.50 +0.49% Nasdaq 10,894.00 DERIVED 18:31:40 | Futures +49.88 +0.46% SmallCap 2000 1,433.60 DERIVED 18:31:41 | Futures +12.15 +0.85
You are wasting your breath. Take note the US had the best economy in the entire world before Corona Virus hit. All the countries got shutdown and their businesses as well. Who is in great shape to recover faster? Another clue for the clueless. China has an export economy dependent entirely, on the US and Europe. Tens of millions of Chinese workers earning $3 a day are being laid off with no unemployment benefits, no stimulus as Chinese exports drop like a rock. Hell, even the Chinese are complaining on social media that the US is taking care of its workers while, the Chinese government gave them squat. Doom and gloomers and chicken littles are a dime a dozen. Most of the same ET trolls. They will get another financial beating and wonder what hit them? What is new?
No matter how you try to establish relationship between stock market performance and covid crisis, market will always go where it wants to go. And no matter how you try to reason and rationalise it, market is always correct. Always focus on chart. Rationalising, reasoning things out ... have no place in trading. Leave the rationalising to the professional talkers and writers. Professional traders, just focus on the chart.