Dignified Rube wrote:
The stupid market is acting irrationally with these vaccine announcements. They don't mean diddly squat until people are actually taking the vaccine and in large numbers. We are a long way away from that. The indices are at the same levels they were back before COVID hit, and COVID is significantly worse now with the U.S. reporting record high cases of 175K day after day. When I drove to work this morning, a COVID testing site near my house was already overflowing with cars. And now the school districts are closing again. Geneva announced yesterday its going full remote learning after Thanksgiving.
You can count on the restrictions being tougher under Biden than under Trump and that will further impact negatively the economy. Trump's sole motivation was to keep the stock market up by being against restrictions. That soon will change.
It's crazy that anyone would be buying stock now at all-time highs with the pandemic raging. The only thing that isn't fake news are the exponentially rising COVID cases. It's completely out of control and the stock market continues to be in denial as long as rates are kept artificially low by the Fed.
i understand your view, but i believe the market doesn't fear the virus as it did in the spring. in the short term - with vaccines and the number of infected going up; sooner (a few years) than later we will reach herd immunity levels. you'll still see pockets in the usa as travel (especially intl) will keep the virus alive.
credit to first responders and the medical profession as they have somewhat gotten their arms around this virus in terms of immediate treatments and better therapies. same to drug companies and the govt. for warp-speed and the manufacture of vital equipment. i also believe the market is predicting it's desired gridlock in american politics and is betting on the repubs winning at least 1 run-off in georgia.
sounds like a victory lap for a victory not secured as of yet, but, i believe this is how the markets view the virus today.
when cuomo told us that he had no ventilators and that nyc didn't have enough hospital beds - there was a fear; results unknown.
virus numbers are bad right now, but nov '20's picture is surely better than april '20's picture.