Tuesday, Let the world begin. The markets are excited that the economy is opening and the pent up demand seems substantial. Socks didn't do much Friday as they appeared to be ready for the long weekend. Futures are soaring this morning.
Lots of news out today the will give us more information of how fast the economy may recover.
Some statistics on who has been most impacted by the virus.
I'll share some insights I learned from my trip.

Good news Wednesday, well not from stocks but there was good news in other places. Walmart reported some great news and some surprises in public buying patterns.
The old saying that 'you can't see the forest for the trees' can be very relevant in the investment world. It is worth an investors time to step back and look at long term charts. What is your investment time frame?
The attached article is an eye opener for stock investors. I have expressed this opinion before but this is the first time I've seen it in a major publication.

Tuesday, stocks soared yesterday. In a time of instant everything an instant stock market crash and an instant recovery could be expected.
Investors are encouraged by the improvement on opening the economy and improvement in find a solution for the pandemic.
The investor enthusiasm is overlooking the extreme overvaluation of stocks. But that's a story for another time.
Auto plants and Kohl's are re-opening with apparently no issues but a number of small businesses will never re-open.
The catch phrase in the financial world has become 'conflict-free advise'.
In my opinion there is no such thing, The key is for conflicts to be disclosed and the client to decide if you can accept the conflicts. If the advisor is getting paid there is a conflict, if they are not getting paid their business model is terminal.

Monday, Friday stocks turned what started as a losing day into a winner by the close.
Interestingly most of my news this morning is positive. Starting with the 'job openings report' Friday there are over 6 million jobs available nationwide. According to glassdoor.com there are almost 7 thousand job available in the Toledo area.
Kroger is, like Walmart, paying bonuses to employees.
The attached articles shows that there is always opportunity. This Blade article by Jon Chavez documents local entrepreneurs are turning lemons to lemonade and helping the community.
The article I posted Sunday about the government printing money will be of interest to investors worried about the future of the dollar. The charade of government borrowing has been broken and now it's just printing. I can't find an example in history where this has turned out well.

Friday, stocks went for a wild ride yesterday closing up for the day.
Jobless claims rose again bringing total unemployment to more than 30 million unemployed.
Remember that airline pilot shortage we talked about? Things can change quickly.
Some encouraging news about auto sales. See the attached article.
A computer chip manufacturing company is building a new $12 billion plant in Arizona.
Some interesting statistics about the corona virus that have not been available.

Thursday, stocks were down again yesterday losing approximately 1000 points in 3 days. The decline yesterday coincided with Federal Reserve Chairman's speech. Stocks were not impressed.
There are bright spots in the economy, one is the housing part of the real estate market. The attached article outlines some of the opportunities and challenges. I'll add a few local stories.
Lock down orders are not holding up in some courts. More challenges are coming.
One or more airline companies may file for bankruptcy. What happens to your voucher?

Good news Wednesday, the only good news is the CPI dropped on of the largest numbers on record. Unfortunately the things you don't need, thanks to the economic shutdown, were the things that dropped. The things you need, like food, saw the largest rise since 1974.
Investing legend Stan Druckenmiller unleashed a fire hose of cold water on market bulls today during an interview with the Economic Club of New York when he said the “The risk-reward for equity is maybe as bad as I’ve seen it in my career,”
The attached article is not good news but it is an eye opener. There are historical precedents for this level of government debt and spending but none turn out well.
The House has released a new 1800+ page bail out bill that spends over $3 trillion, very little that will help businesses or the unemployed.
Buckle up kiddies it's going to be a thrilling ride.

Tuesday, stocks slipped yesterday. There was no big news and stocks wondered aimless most of the day.
Our attention is being drawn to history, why were the predictions so wrong, and the future why are outlook opinions as diverse?
One thing is almost certain the predictions of the future will, most likely, be as incorrect as the past predictions on the pandemic.
Boeing CEO is not predicting a quick recovery for the airline industry.
Carnival Cruise lines are flooded with bookings for the fall.
Pension funds were hit hard in the first quarter,

Monday, stocks had an impressive day Friday especially considering the unemployment numbers were a disaster. Stocks go one way while the economy goes the other. Is FOMO driving stock prices again?
The attached article raises the question, how much long term damage has been inflicted on the economy? How many plants will not reopen?
1/3 of Ky workers have filed for unemployment benefits.
Elon Musk threatens to move the Tesla plant out of California. The only remaining auto assembly plant still in California.
Is work from home here to stay?

Friday, stocks were up again yesterday but following the pattern of giving back part of the morning gains late in the day. The NASDAQ index is now up since January 1st.
Stocks and the economy are going in different directions. Which is correct?
If you are making more money staying at home will you go back to work? See the attached article.
The latest business aid government program is not going over well.
Why treat the entire country the same when the impact is disproportionate? Half of the counties in the US have had no COVID-19 deaths.