Friday, stocks were down yesterday. Considering the GDP report we were lucky stocks were not down more. The GDP dropped the most since the 1940s. The economy had started to improve in June then the second round of restrictions caused the economy to slow again. Maybe it won't be a 'V' recovery. A quote from the attached article "More recently, economic activity has picked up. Consumer spending, particularly on big-ticket items such as homes, autos and other long-lasting purchases, increased in June."
To add to the bad news first time jobless claims rose for the second week in a row.
The dollar has declined about 10% since March and gold price has gained approximately 30% over the same time. The charts of the dollar and gold look like mirror images.
Yesterday a client asked me to describe what is happening in the economy today.