Quote:
Originally Posted by PaceAdvantage
Actually it's been good news. New York continually reports that the numbers are expected to be nowhere near earlier projections. The hospitals aren't as pushed to the max as was feared...new case rates continue to fall in many countries around the world...I was under the impression that the virus news was more positive than negative...anyway, we all have our 2 cents, and those are mine.
The market will have the final say on who is right and who is wrong.
|
I totally agree news has been better than expected as to death counts. Economy not so much. Here just a couple quick examples I found if interested. Most if not all of these news clips were in the morning while the market was in session and one was over the weekend.
3/26-CNBC jobless claims soar to 3 million, record high.----BAD, right? Monster Up day
3/30-CNBC reports that Fed says job losses could hit 47 million, UE hit 32%-Terrible, Right? Another UP day in the market.
4/5- US news reports highest single day CV death toll-BAD? right.--Monster up day.
4/6- same day Janet Yellen says GDP could decline by 30%! -really bad--See above, Monster Up day.
4/9-Reuters The IMF chief says the pandemic will unleash the worst recession since the great Depression---Sounds Bad to me...right?--Market Gapped up-highest level yet since the fall......on bad news...
This took me about 30 minutes to find, and I can't disagree that they are wrong about our economy, but the stock market is not the economy , meaning it doesn't go hand in hand with the economy, it's usually leading it.
