April 27, 2020
Good Monday morning,
Last Friday saw some solid gains in the U.S. equity markets. The Dow, S&P 500 and NASDAQ gain 259.97 (+1.11%), 38.94 (+1.39%) and 139.77 (+1.65%) points, respectively, to end an otherwise down week for stocks. Dominating the news cycle are the cities seeking to reopen their economies, while others try to determine how and when to best open businesses and restore to normal – whatever that becomes.
Economics is taking center stage, asking the inevitable question of just what effect the coronavirus will have on small and large businesses alike, what unemployment will look like in six months and how fast will the U.S. economy get back on its feet.
Today’s market is focusing recovery – both from the virus and American business. As of 11:30am PDT, the Dow has spent most of the day up more than 300 points, with similar gains in the S&P 500 and NASDAQ. Markets are also watching other countries, namely in Europe, struggle to reopen various parts of their own economies.
We certainly seem to be beginning to enter the backside of this pandemic growth curve, although we are still in need of a reliable treatment and eventually a vaccine. We hope both come very soon, and our lives return to what will most certainly be a new normal.
Stay safe and healthy.