Stocks which stand to benefit the most from a successful reopening led the losses in premarket trading. Carnival and Royal Caribbean cruise lines each lost more than 5%. United Airlines lost 6%. Retailers Kohl's and Gap declined. These types of stocks surged in May as investors bet that the worst of the virus was over.resurgence in the virusThe Dow and S&P 500 lost 5.5% and 4.7% last week, respectively, while the Nasdaq shed 2.3%.
"The Covid deterioration in certain states will stay an overhang for the market, although it would take a sustained increase in US numbers overall to spark a dramatic shift in the narrative," Vital Knowledge founder Adam Crisafulli said in a note on Sunday.
Due to Fed actions the dangerous gap between the Financial markets and real economy is widening. the Overdose situation is being happened for the Financials of USA and also for entire world. EMs are gonna feel worse these awful actions' results
Until humans realize that government and economics must be separated, just like church and state, and for the same fundamental reason, nothing will get better. The poverty. The conflict. The chaos. The economic ruin. It will all get worse. Wake up.
I wonder how long the economic puppeteers will cling to their philosopher-king illusions. How bad will it need to get, before they become intellectually honest with themselves? Say “statism doesn’t work.”
The Fed was always a destructor, the public just never knew. 98% of the country doesn’t remotely understand how the financial system works, nor any rational economics, so they actually thought this Ponzi Scheme was helping them.
Who will the Trump administration trot out today to talk up the market? Or more vaccine news? Or a new multi-trillion dollar stimulus plan?
The mirage is struggling to hold its form. Print more.....issue more debt.....that will help......