Tuesday, stocks had another good day yesterday. As one analysts I read says when the market has buyers, news doesn't matter.
Two stocks that soared Friday are either in bankruptcy or preparing to file for bankruptcy. You wonder what people are thinking. Speaking of bankruptcies they were up in May, a lot.
The attached article shows how the markets can humble even the smartest money managers. Quote from the article, "Stanley Druckenmiller says the past few weeks have been a humbling experience." Markets are masters at making smart people look dumb and vise versa.

Monday, after a great weekend, but Friday set the stage. The employment report came out Friday and everyone was surprised. A quote from the attached article: "After two months of carnage, employers added 2.5 million jobs last month, the most jobs added in a single month on records dating from 1948."
That news lit a fire under stocks and the DOW soared.
Oil production companies and opening well as crude approaches $40 per barrel.
The yield curve is steepening, is it a sign of a stronger economy or inflation? Or both?

Friday, amusement parks are closed but the DOW created its own roll-a-coaster yesterday ending on the plus side but not by much.
Jobless claims were reported yesterday new claims are declining as well as continuing claims appear to have peaked. But we are not out of the woods there is still over 21 million unemployed.
U.S. bankruptcies are up 48% year over year.

Thursday, another good day for stocks. It seems as nothing can stop stocks from going higher. NASDAQ in near an all time high, what happened to the depression??
No big business stories but a lot a interesting little stories.
Reports show the economy is improving but is a long way from recovery.
The strong sectors:cars, houses and guns. What a combination!
It's starting to look like the Biblical plagues: Virus, riots, next up a hurricane.
The attached article further verifies the story we have been following on the vehicle shortage. Order now and get delivery in October.

Good news Wednesday and stocks finish with a flourish adding 150 points in the last 30 minutes.
More news on motor vehicle sale and it's good.
Two articles for your reading pleasure today. The first is an interview with Mohamed El-Erian, if you don't know who he is you should expand you investment reading. Here is a quote from the article "This notion that it doesn't matter what happens to fundamentals. It doesn't matter what happens to corporate earnings. It doesn't matter what happens to economic growth... because The Fed will buy what I want to buy... that's the mindset of the market right now."
The second article is about inflation. Inflation has not been a major issue since the 1980's. Does that mean it will never be a problem?

Tuesday, stocks opened down yesterday but quickly reversed and closed with a gain. Reports out yesterday show that the economy is improving but there are still plenty of problems.
The attached article is one more reason why you need to understand what you are investing in and why as well as the downside. Remember that while your advisor may have your best interest at heart the person who designed the investment vehicle may not. Does your advisor understand the investment he is recommending or has he just read the sales literature?
The second linked article is from the Detroit Free Press and documents the coming shortage of auto inventory we talked about yesterday. And Ford and G.M.'s strategy to make up for lost production.

Monday, stop reading the headlines and read the stories. That was true of stocks Friday as the DOW closed down only 17 points but the rest of the day was far more volatile.
If you read the headline of the attached article you would think the news is bad but keep reading. If you make it to the third paragraph you will discover personal income was up over 10% and if you make it all the way down to the sixth paragraph you will discover the personal savings rate was up over 30% month over month the highest savings rate on record. The previous record was 1975 at 17%.
At 6:35 I will share some local anecdotal information about how those numbers are impacting the local economy.

Friday, the stock market again had all the action that counted in the last hour of trading.
News is offering insight into what opening the economy may look like. Don't read just the headlines the real information is often buried in the details.
Changes coming to the PPP rules and that extra $600 a week of unemployment supplement ends at the end of July.
Here is a question to ponder over the weekend, should politicians be help accountable for bad decisions made based on faulty models??

Thursday, stocks were having a good day yesterday then at 3:30 the market caught fire and tagged on another 200 points.
Mortgage applications indicate new purchases are strong. Refi's have slowed.
The attached article gives an idea of just how much damage the economic shut down has done to corporate earnings. Pull quote from the article, "A retesting of the March lows in the equity market is a probable outcome."
American Airlines announces more cuts an

Good news Wednesday and stocks provided the good news. Stocks roared.
First the government paid you to stay home, now Larry Kudlow, Trumps economic adviser, says they may pay you to go back to work! You can't make this stuff up.
In the attached article Jamie Dimon, Chairman of JP Morgan, says the Fed liquidity is propping up stocks.
The second article in the comments an analysts at Bank of America says the Fed are creating 'fake markets'.
My comment "when markets are irrational it is unprofitable to remain rational".
Reports out yesterday show housing is doing well but the rest of the economy, not so much.