COVID-19 Continues To Spread & Vroom Goes Public | Stock Market And The Economy Correlation Confusion – Daily Financial News & Insights For June 19, 2020

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COVID-19 Spreads amp Vroom Goes Public Daily Financial News Summary for Tuesday June 9 2020 Major indexes were mixed on Tuesday as the multi-day rally was paused The Dow Jones fell by 1 09 and the S amp P 500 by 0 78 The NASDAQ rose by 0 29 Major technology companies such as Amazon Facebook Apple and Netflix helped contribute to the NASDAQ s increase today Yesterday the National Bureau of Economic Research NERB announced that the U S economy has been in a recession since February This announcement so far has had a relatively small negative impact on the stock market Said Brent Schutte of Northwestern Mutual We ve been telling people to ignore the economic data The market is a forward-looking mechanism it s looking forward to a better future it s reflecting the fact that we re opening large swaths of the U S economy without significant spikes in cases We do suspect that in the future while the returns certainly aren t going to be what they are today or what they have been over the past few months there still is value left in different parts of the market for investors READ MORE https callputstrike com 2020 06 09 covid-19-spreads-vroom-goes-public-daily-financial-news-summary-for-tuesday-june-9-2020 What is the Correlation Between the Stock Market and the Economy By now everyone has heard about the global pandemic known as COVID-19 and the havoc it has wrecked upon the world People have lost their jobs their businesses and many have lost their lives The U S economy is currently in a recession but major stock market indexes are performing record highs Since the economy is so bleak right now some people are wondering how the stock market is rallying so high What Happened Just before the pandemic came to the United States the economy and the stock market were both doing well The economy s GDP had grown by 2 3 in 2019 Domestic economic activity was just peaking in February which is when the major indexes the Dow Jones the S amp P 500 and the NASDAQ reached record highs as well When Covid19 started running rampant throughout the country both the economy and the stock market suffered Millions of jobs were lost and many businesses were forced to shut down The low point for the stock market was March 23 when the Dow Jones fell 37 12 from its high on February 12 This was also the day when the S amp P 500 had fallen 34 06 from its high on February 19 The NASDAQ fell 30 26 from its highest point to its lowest point Currently the economy is in a recession but stocks are soaring high On June 8 the three major indexes finished above or close to their record highs The NASDAQ closed at 9 924 74 which is a new record The Dow Jones closed at 27 572 44 which is only 6 7 off its high point in mid-February The S amp P 500 ended the day at 3 232 39 a mere 4 5 off its highest point Why READ MORE https callputstrike com 2020 06 09 what-is-the-correlation-between-the-stock-market-and-the-economy — This episode is sponsored by Anchor The easiest way to make a podcast https anchor fm app — Send in a voice message https anchor fm callputstrike message Support this podcast https anchor fm callputstrike supportClick here to visit this podcast episode

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