Lots of good news today

[Montecfo]

ADP reports 2.37M jobs added in June. May also revised upward very sharply.

Pfizer with positive vaccine news.

Purchasing managers index with huge jump to 52.6 vs 43.1, indicating manufacturing is expanding.

 

[eytonxav]

That is refreshing, thanks for the update!

 

[TheRunningMan]

Everyone should buy more stocks!

 

[ExFlyBoy5]

Everyone should buy more stocks!

But then what will the government buy?!?

 

[TheRunningMan]

But then what will the government buy?!?

LOL!

 

[LOL!]

Buy on the rumor; sell on the news.

 

[brewer12345]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine. The PMI numbers are inflated based on hope components while the hard data components are soggy. Who know what to make of the ADP numbers given dodgy data and revisions. But please, resume speculating.

 

[pb4uski]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine. The PMI numbers are inflated based on hope components while the hard data components are soggy. Who know what to make of the ADP numbers given dodgy data and revisions. But please, resume [-]speculating[/-]grasping at straws.

Fixed it for you.

 

[brewer12345]

Fixed it for you.

Hey, at least I didn't detail all the horrendous news items that came out today.

 

[Montecfo]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine. The PMI numbers are inflated based on hope components while the hard data components are soggy. Who know what to make of the ADP numbers given dodgy data and revisions. But please, resume speculating.

Well I can see someone got up on the wrong side of the bed. Hopefully tomorrow will be better.

 

[samm]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine. The PMI numbers are inflated based on hope components while the hard data components are soggy. Who know what to make of the ADP numbers given dodgy data and revisions. But please, resume speculating.

+1

 

[tdv2]

From a market perspective, by the time we hear the news it gets priced in far faster than us mere mortals can react. Reminds me of the old Wall Street adage and from Malkiel's "Random Walk Down Wall Street" ...."Something everyone knows is not worth knowing".

Good news nonetheless.

 

[street]

Thanks that is great news.

 

[Clover5]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine. The PMI numbers are inflated based on hope components while the hard data components are soggy. Who know what to make of the ADP numbers given dodgy data and revisions. But please, resume speculating.

In a micro sense yes it is good news but I agree with the above. Yes some of those laid off are returning but the service industry is nearly decimated, hotels, airlines, restaurants and many small business may not return to a pre February state for many years. I suspect commercial real estate is going to be a mess of bankruptcy very soon... Good to hear some positive news but this isn’t nearly over.

 

[kjpliny]

More financial propaganda. Be wary.

 

[samm]

All that stuff is suspect, unfortunately. The Pfizer headlines are way a long way (years) from an actual vaccine.

Pfizer has spent $219 million in lobbying over last 20 years. That is how to get FDA approval and financial success. Do the drugs work? Meh, who cares.

 

[brewer12345]

More financial propaganda. Be wary.

The US reminds me about the old joke about the Soviet Union having only two TV channels:

Channel 1: propaganda.
Channel 2: KGB agent telling you to turn back to channel 1.

It amazes me that the financial media just ignores consistent daily case counts approaching 50k and increasing lockdowns.

 

[Dtail]

Might have one last push for a new stock market high, then .......

 

[samm]

The US reminds me about the old joke about the Soviet Union having only two TV channels:

Channel 1: propaganda.
Channel 2: KGB agent telling you to turn back to channel 1.

Hilarious.

 

[MRG]

The US reminds me about the old joke about the Soviet Union having only two TV channels:

Channel 1: propaganda.
Channel 2: KGB agent telling you to turn back to channel 1.

It amazes me that the financial media just ignores consistent daily case counts approaching 50k and increasing lockdowns.

That would be bad news who wants to deal with reality?

 

[eytonxav]

Well I can see someone got up on the wrong side of the bed. Hopefully tomorrow will be better.

Doesn't brewer do that every day?


J/K

 

[brewer12345]

Doesn't brewer do that every day?


J/K

I am a realist, not a pessimist or an optimist. Happy to find things going well when I see them, but unafraid to acknowledge when we are in the soup, like now.

 

[tdv2]

We continue to climb the wall of worry.

 

[Montecfo]

Even more good news today

Economy added 4.8M jobs in June, which was 2.1M more than May. Unemployment declined to 11.1%.

 

[Helen]

I am a realist, not a pessimist or an optimist. Happy to find things going well when I see them, but unafraid to acknowledge when we are in the soup, like now.

I agree. The economy can not recover until we get the virus under control and I think we are a ways away from that.