April 28, 2020
Yesterday, the U.S. equity markets extended their gains from Friday. At day’s end, the Dow, S&P 500 and the NASDAQ gained 358.51 (+1.51%), 41.74 (+1.47%) and 95.64 (1.11%) points, respectively. The focus of the market remains the same – when and how will the U.S. economy get back up and running – and when will an effective and readily available treatment and vaccine be developed.
Corporate earnings are beginning to be released, with undoubtedly lowered targets. While 1st quarter earnings are of interest, it will be 2nd quarter results of greater interest – and these will not be out until sometime in July. These will certainly be an indication of the GDP figures as well.
As states begin to open their economies, all eyes are on any resurgence of coronavirus cases. By all indications, the U.S. as a whole is on the downside of the virus’s growth chart. Keeping it that way while getting the economy back up and running is the challenge facing the Trump administration, states’ Governors and even city’s mayors.
Be safe and healthy.