Yardeni, who spent decades on the street running investment strategy for firms including Prudential and Deutsche Bank, credits the government's unprecedented steps to soften the virus' economic blow as the main catalyst for the surprise jump.that was basically implemented in April, encouraging small businesses to keep people on their payrolls," he said.
Yardeni speculates that's exactly what happened: Main Street started bringing back laid off workers once they got the funds. Barring a second wave of virus cases, he believes the jobs boost helps set the stage for a sharp economic rebound this year before leveling off by winter. "It is going to be a V-[shape] initially," said Yardeni. "Real GDP could be down 40% to 50% in the second quarter. But the worse it is in the second quarter, the greater the likelihood we'll see something like a 20% increase in the third quarter."to record highs over the next couple months — even exceeding his 2021 year-end target of 3,500. On Friday, the index closed at 3,193, 3% below the all-time high hit on Feb.19.
TradingNation Why not post the real numbers?
TradingNation Why are you running stories like this when the underlying premise is not correct?
TradingNation It’s a huge “head fake”. Gov’t programs and pandemic closures will obfuscate every set of data to, at least, the 4th qtr. That’s when the numbers will start to become anything meaningful. We’ll then start seeing who’s actually getting their job back!
TradingNation I like the markets but the jobs report was a fraud and will lead to the greatest revision in history. The current p/e is nearly 23 that’s not priced for perfection it’s priced for lunacy.
TradingNation why aren't you posting the fact the job numbers were a fraud? admitted by the BLS. you are supposed to be the news, not a stock promoter
TradingNation Did you share the revision downward with Ed?
TradingNation Media was wrong cuz its a bunch of old white people trying to extend their lives and avoid risk rather than take risks to live their lives. And btw, all of them got their jobs cuz their mom or dad knew someone.
TradingNation Stfu permabull charlatans
TradingNation If Market get back to ATH, I’ll Short that with everything I have
TradingNation Blowing sunshine up our ass is more like it.
TradingNation I dont see the fuss. This is base effect from Apr 2020 numbers. Ofcourse when you open up economy again from nothing previous month, there is bound to look good. Real question is, how many business dont have working capital to pay rent, restock inventory & restart business
TradingNation The numbers don’t make sense. Now I see they have been cooked. Report it.
TradingNation The May jobs report had 'misclassification error' that made the unemployment rate look lower than it is. Furloughed workers counted as employed. I used to expect good reporting from CNBC. All in for Trump now?
TradingNation Bold call
TradingNation Calc Error aka Trump incompetent got caught altering the calc's and it's actually worse than reported.
TradingNation More Dnc approved riots coming.....
TradingNation Didn’t the jobs report have a note saying the 13% number was incorrect and closer to 16%? Why is this still the CNBC line since it’s been debunked as a lie?
TradingNation
TradingNation the only thing shocking about the may job report was the big error you bozos.
TradingNation Weren’t the books cooked and the numbers all wrong? Are you going into tomorrow with the original numbers?