The stock market and the economy are up, up and away

While all things Wuhan coronavirus-19 pandemic and the nationwide protests and riots following the tragic death of George Floyd dominated all media, other events occurred in spite of these forces that you might have missed.  As business network summed up: Nasdaq hits intraday record | Dow jumps 800 points | 2.5 million jobs added A V-shaped recovery appeared all but off the table just a couple of weeks ago, but the great economic reopening is swinging the lines on the charts upward. Friday's unemployment report showed the economy actually added 2.5 million jobs - which was better than the 8.3 million payrolls economists had expected it to lose. I was also a lot better than the 20.7 million jobs lost in April. "Barring a second surge of Covid-19, the overall U.S. economy may have turned a corner," said Tony Bedikian, head of global markets at Citizens Bank, "even though it still remains to be seen exactly what the new...(Read Full Post)
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