U.S. Adds 184,000 Coronavirus Cases In 1 Day, With No End In Sight

You appear misinformed on why the stock market is where it's at, which is understandable if it is not a field you work in. The economy is a complete shitshow right now and the stock market actually proves the opposite of what you believe. When just looking at the S&P500, you are justified in thinking that, but here is the situation.

-The stock market is where it's at because people took money out of riskier markets/financial assets and parked them in US equities. Not to mention all the money moved from US bonds as they no longer give a rate of return. Foreign money is also in US stocks as the rest of the world is stopping the spread and their markets are down, while the US doesn't seem to care.

-The stock market is NOT at all time highs, a couple of indexes that track the biggest companies are. Even those are literally being dragged up by a dozen companies, while the majority are still doing VERY badly for the year. For instance, apple is worth double what it was a year ago, and it is not rising through any kind of fundamentals. But hey, what else are people meant to buy after selling all of their AMC stock?

-Those companies mentioned before are at all time highs from derivative manipulation by softbank, and accidentally so, by retail traders. We have absolutely no idea how much of the growth this year was from this. The American stock market may have a ways to fall to find out.

-We are down since the vaccine news, as is Pfizer. The fact that the CEO sold most of his shares from this pump is worrying in regards to the timeline of the vaccine. Hopefully Moderna and Oxford can speed it up.

-Volatility plays a roll and even during the most fucked markets, stocks go up and down. Watch it next week ;)

Also a side note in regards to the economy as a whole. Jerome Powell, the head of the fed, claims unempoyment is at 7.9%, which is bad. It's worse though. This number does not include PUA, people ineligible for unemployment, and people who fall into a category that isn't included in the US unemployment percentage. Real workforce is down 11% since February. At 3.5% unemployment in February, that means we have 14% unemployment.

One in seven people are out of work from this pandemic. The economy is not good, and even Jerome Powell doesn't claim it's good. He says it's improving, but that the exponential rise of covid will change that.

We are going to be at 250k-300k cases a day by Thanksgiving. This is going to be a rough couple of months. If Thanksgiving get togethers push this number to a million a day, you are going to see effects from it.

/r/Coronavirus Thread Parent Link - npr.org