'Maybe the easiest reopenings are now behind us': What to make of the market's mixed action

TheMarket watchers are grappling with the question on everyone's mind: How quickly will the economy recover?Mark Vitner, senior economist at Wells Fargo Securities, said the speed of the comeback could be slowing:

"I really think that what we're seeing is a slowdown in the rate of improvement. And we saw an initial bounce back, and when you saw activity fall as hard as it did in April and you go from being 100% of restaurants closed to 85% of restaurants being closed, that gets you a big callback of workers. But the improvement from there seems to be slowing because I've been to a number of restaurants recently and some do it very well in terms of being able to socially distance.

"I think the market's been remarkably resilient, particularly the larger-cap quality names that have come back dramatically since the lows back a number of months ago, and that does reflect the sense that we bottomed out from an economic standpoint and the data is going to start to get better and markets typically focus on ... the rate of change going forward. But it's been a pretty remarkable bounce back. At the same time, if you look at the dispersion between large-cap U.S.

"As it relates to valuations, with the rebound in the stocks over the last couple of months, we've also seen, obviously, the multiples move up as well. And we're now looking, for the broader tech sector, [at] forward multiples that are at or near the high end of the recent historical range.

TradingNation Maybe CNBC going far left is as stupid as it looks.

FastMoney TradingNation The easiest openings are the ones that are financially viable. Eating outdoors is purely a result of it being June. If it was December, we’d still be stuck at home. How does that make it right?

TradingNation

TradingNation We should take a look at how the UK integrate cctv into regular policing. High crime areas and times offer an advantage evidence for court faster radio dispatch of sufficient numbers of officers for the task

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US stocks fall as investors weigh looming risks to economic reopening | Markets InsiderUS stocks slipped on Wednesday, ending a three-day S&P 500 winning streak. All three major indexes fluctuated between gains and losses for m...
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market live today: Dow futures down 100, reopening trades lower, jobless claims aheadThe latest on markets Thursday, including coronavirus developments and the latest jobless claims figures. UK experts say the low-dose Steroid treatment saves one third of most severe COVID19 cases... Steroid Uh Oh, send out the shills! Get bitcoin mined directly into your blockchain wallet via bitcoin mining for more details dm me now jeffbronx5
Source: CNBC - 🏆 12. / 72 Read more »