The pandemic economy itself has been both gray and yellow, and that will certainly be the case until the spring of 2021.
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Job creation continued to slow in November, as COVID-19 surged throughout the nation. Evidently, stock investors didn’t hear the alarm, as equities went up.
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Investors cheered the likely outcome of a Biden presidency, a Republican-controlled Senate and a Democratic controller House, believing that gridlock would amount to a win for corporate America.
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This week, the government will release its first estimate of economic growth (GDP) for the third quarter and it’s going to be a welcome relief from the first half of the year.
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As news emerged early Friday morning that the President and the First Lady tested positive for coronavirus, some investors may have wondered if this was the “October Surprise” they feared.
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Political campaigns used to be laser-focused on the national debt. But in the current pandemic era, both parties have been willing to spend a lot of money to support the sagging economy.
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“How can the stock market go up, while the economy is still struggling to recover amid the pandemic?” The answer is that the stock market is not the economy and vice versa.
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Despite two strong months of job gains in May and June, the uptick in cases in the South and West prompted municipalities to tighten rules; caused consumers and businesses to slow down their efforts to return to pre-pandemic behavior; and slowed down job growth in July.
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Government emergency efforts worked and the economy saw significant progress in May and June. But with the virus spiking in wide swaths of the country in July, hopes have dimmed hopes for a more significant third quarter bounce.
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