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Coronavirus (COVID-19): Global business, economics, and stock markets updates
- Thread starter Xulonn
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S&P support level is 3,000 which may be tested today. Next support level is 2,820. Recent market weakness has been attributed to an increase in infections by some, US Presidential race polls by others. I believe we are seeing a consolidation after a big rally and that overall the market is not overpriced.
Stuff I like: Big banks, Visa, MasterCard
Stuff I don't like: cruise lines, airlines, hotels, QQQ, REIT's.
Generally, if it hasn't come back to January levels yet and it isn't too speculative, it's worth looking at.
I don't day trade or short anything.
@Thomas savage sorry about the off topic post. It was actually an accident and way before the other thread was closed.
Stuff I like: Big banks, Visa, MasterCard
Stuff I don't like: cruise lines, airlines, hotels, QQQ, REIT's.
Generally, if it hasn't come back to January levels yet and it isn't too speculative, it's worth looking at.
I don't day trade or short anything.
@Thomas savage sorry about the off topic post. It was actually an accident and way before the other thread was closed.
Dave Zan
Active Member
I have just read the International Monetary Fund's latest World Economic Outlook statement.
They have improved their forecast for Australia, presumably because we have done well with Covid (so far at least).
The forecast for the USA went the other way- predicted heavier economic hit, more debt etc.
Can I ask the US members how they see this will play out?
In Australia there is a plan for recovery and I have a feel for the sentiment here.
But the US case numbers have hit new records and I have no idea what the plan is or how people will react there.
If cases continue to increase is there any level that would cause a return to restrictions?
Or what is the alternative plan?
I understand your frustration with strife in these threads but it seems a little harsh to keep the other thread closed because of bad behaviour in this one.
The fact that people continued here when the other thread was closed is not insubordination but a demonstration of how important people feel the topic is.
I like a nice Spinorama thread as much as anyone but Covid is literally life and death (or unemployment versus a job, if you are lucky) and I think most people learned a lot, certainly I did.
You have the final say as moderator, of course, but may I respectfully ask you to reconsider?
Best wishes
David
They have improved their forecast for Australia, presumably because we have done well with Covid (so far at least).
The forecast for the USA went the other way- predicted heavier economic hit, more debt etc.
Can I ask the US members how they see this will play out?
In Australia there is a plan for recovery and I have a feel for the sentiment here.
But the US case numbers have hit new records and I have no idea what the plan is or how people will react there.
If cases continue to increase is there any level that would cause a return to restrictions?
Or what is the alternative plan?
I understand your frustration with strife in these threads but it seems a little harsh to keep the other thread closed because of bad behaviour in this one.
The fact that people continued here when the other thread was closed is not insubordination but a demonstration of how important people feel the topic is.
I like a nice Spinorama thread as much as anyone but Covid is literally life and death (or unemployment versus a job, if you are lucky) and I think most people learned a lot, certainly I did.
You have the final say as moderator, of course, but may I respectfully ask you to reconsider?
Best wishes
David
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The economic impact for me is that my pension has lost ⅓ of its value and the personal one is missing seeing and sharing time with my grandchildren who I adore.
I am a believer in liberty but it seems to me there are enough people who are selfish, stupid or ignorant enough for the idea of relying on peoples sense of community, citizenship and good sense to prevent the accelerating threat of spreading the virus is an optimism too far - looking at what is happening here in England.
I am a believer in liberty but it seems to me there are enough people who are selfish, stupid or ignorant enough for the idea of relying on peoples sense of community, citizenship and good sense to prevent the accelerating threat of spreading the virus is an optimism too far - looking at what is happening here in England.
The economic impact is clearly dire, and I am sure it will last for a while. It started on the supply side, but now that people are beginning to lose incomes, demand will take a hit as well, setting in motion a downward spiral. Therefore income support and massive public expenditure are obviously required. The route of relaxing controls before the infection rate is really down may seem to have made economic sense, but if you are too early you not only risk many new infections, but also a further economic downturn. It was and is a precarious balancing act, and nobody can hope to get it quite right, although in retrospect some seem to have been or are better at it than others.
In the Netherlands we never had a complete lockdown, and although business was hurt it did not come to a complete standstill, and by now the infection rate is down to increasingly small numbers. The government asked citizens to behave responsibly, and by and large this has worked out very well. Right now there is a lot of political pressure to relax even further, but interestingly that loud populist noise is not reflected in opinion polls where the vast majority of the population supports current restrictions. So unlike Frank, I remain largely optimistic, though not about the economic prospects.
In the Netherlands we never had a complete lockdown, and although business was hurt it did not come to a complete standstill, and by now the infection rate is down to increasingly small numbers. The government asked citizens to behave responsibly, and by and large this has worked out very well. Right now there is a lot of political pressure to relax even further, but interestingly that loud populist noise is not reflected in opinion polls where the vast majority of the population supports current restrictions. So unlike Frank, I remain largely optimistic, though not about the economic prospects.
maty
Major Contributor
Talking about "Global business, economics" I inform you that I have received genuine POWECOM KN95 masks that I ordered three weeks ago. Since the other Covid-19 thread is closed, I comment it here.
I have a Spanish thread in twitter about the masks:
I do not comment on it anymore... I suppose
I have a Spanish thread in twitter about the masks:
I do not comment on it anymore... I suppose
Attachments
In Canada, in some parts, a fair bunch of restaurants are bankrupted.
I don't think we'll get back to where we were till an effective vaccine(s).
I talked to one of my brothers recently (he lives between Montreal and Quebec City, in the countryside with his wife...the kids are closer to Montreal), and a fair bunch of restaurants are caput, gone. What surprised me is that the ones remaining, most are open inside. I live in BC @ the other end of Canada and restaurants aren't open inside, many. Fast food pickup by a window yes, and few restaurants with tables outside, but not inside.
In the US I have zero clue, I don't live there to see how each state operate their businesses. But many here do, so they can share their economic impact on that sector.
The NASDAQ (technologies) is doing good, breaking records.
You can call me impressed to see the stock markets where they are now in North America. It doesn't seem to fit with the overall economic climate across the continent.
Some countries benefit more than others on the business front. ...The ones relatively unscathed by the number of cases and deaths. But even then for some hardest hit it's business as usual.
I do understand the fragile balance between global economy and global starvation.
I've read an article recently where a group of 83 rich people are asking to pay substantially more taxes to help the COVID-19 cause...its devastating effects on the poor. That's nice, a human touch of compassion.
Do you want me to provide a link or did you already read it?
Now I need to read a good book, a recent one.
I don't think we'll get back to where we were till an effective vaccine(s).
I talked to one of my brothers recently (he lives between Montreal and Quebec City, in the countryside with his wife...the kids are closer to Montreal), and a fair bunch of restaurants are caput, gone. What surprised me is that the ones remaining, most are open inside. I live in BC @ the other end of Canada and restaurants aren't open inside, many. Fast food pickup by a window yes, and few restaurants with tables outside, but not inside.
In the US I have zero clue, I don't live there to see how each state operate their businesses. But many here do, so they can share their economic impact on that sector.
The NASDAQ (technologies) is doing good, breaking records.
You can call me impressed to see the stock markets where they are now in North America. It doesn't seem to fit with the overall economic climate across the continent.
Some countries benefit more than others on the business front. ...The ones relatively unscathed by the number of cases and deaths. But even then for some hardest hit it's business as usual.
I do understand the fragile balance between global economy and global starvation.
I've read an article recently where a group of 83 rich people are asking to pay substantially more taxes to help the COVID-19 cause...its devastating effects on the poor. That's nice, a human touch of compassion.
Do you want me to provide a link or did you already read it?
Now I need to read a good book, a recent one.
Gonna get me some of those, i'm running out of my 3-ply disposables.
"Please. Tax us. Tax us. Tax us. It is the right choice. It is the only choice."
▪ https://www.forbes.com/sites/isabel...h-to-pay-for-coronavirus-impact/#7c61b9c06cc8
▪ https://www.forbes.com/sites/isabel...h-to-pay-for-coronavirus-impact/#7c61b9c06cc8
That's exactly where the imbalance reigns...the distribution and redistribution inequalities.
_____
On the telecom strictly business vantage point of view ...
• https://asia.nikkei.com/Editor-s-Pi...tal-minister-warns-of-China-s-5G-Trojan-horse
That's quite an informative article ^ I'd say. You have to read it...info you can use.
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This is good, very good ... Corona versus the economy ... a clear an ultra vision of the two forces working in tandem for the benefit of human kind.
Some countries have the right stamina to handle the situation masterfully.
Other countries struggle within their own internal parameters, in need of more radical adjustments and longer term implementations.
It is permissible and advisable to follow others' great implementations and directions.
It's also free advice for everyone to see.
Some countries have the right stamina to handle the situation masterfully.
Other countries struggle within their own internal parameters, in need of more radical adjustments and longer term implementations.
It is permissible and advisable to follow others' great implementations and directions.
It's also free advice for everyone to see.
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The evil that lurks in the hearts of men. In terms of economic impact, the kicker here is that for two decades or so (perhaps not going forward) Hartsfield-Jackson (aka ATL) has been the busiest airport in the world. Now it could become the world’s most potent Covid vector.
https://www.wabe.org/kemp-sues-bottoms-atlanta-city-council-over-mask-mandate/
https://www.wabe.org/kemp-sues-bottoms-atlanta-city-council-over-mask-mandate/
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By plane ... (Canada, home) ✈
• https://globalnews.ca/news/7178604/coronavirus-exposure-canadian-flights/
One of my nieces is a flight attendant...she doesn't expect to return to work for two years, approximately. But she is well covered with generous plans for their employees.
She doesn't work for Air Canada or West Jet.
By car ... ⛟
Elon is going big in China, hedging his investments beyond the borderlines of COVID-19 ... best move for hedge fund managers wanting to bet again Tesla shares' price.
They'll lose their shirts if they don't play wise. They'd better recommend Tesla shares if they want to see the light coming up ...
• https://globalnews.ca/news/7178604/coronavirus-exposure-canadian-flights/
One of my nieces is a flight attendant...she doesn't expect to return to work for two years, approximately. But she is well covered with generous plans for their employees.
She doesn't work for Air Canada or West Jet.
By car ... ⛟
Elon is going big in China, hedging his investments beyond the borderlines of COVID-19 ... best move for hedge fund managers wanting to bet again Tesla shares' price.
They'll lose their shirts if they don't play wise. They'd better recommend Tesla shares if they want to see the light coming up ...
That face requires a caption, like Why did eat that 3 day old meatloaf? Whenever you see an unflattering photo of someone in a news article, I take it as an editorial comment.
maty
Major Contributor
Talking about "Global business, economics" I inform you that I have received genuine POWECOM KN95 masks that I ordered three weeks ago. Since the other Covid-19 thread is closed, I comment it here.
I have a Spanish thread in twitter about the masks:
I do not comment on it anymore... I suppose
Angela Merkel, with POWECOM KN95 mask
Attachments
Speaking of the economy in the world ... in face of COVID-19
Which Country Will Triumph in the Post-Pandemic World? Hint: It’s not the United States or China.
• https://www.nytimes.com/2020/07/19/opinion/coronavirus-germany-economy.html
Workers at the Berlin Brandenburg Airport, which is under construction in Germany. Credit Hayoung Jeon/EPA
Which Country Will Triumph in the Post-Pandemic World? Hint: It’s not the United States or China.
• https://www.nytimes.com/2020/07/19/opinion/coronavirus-germany-economy.html
Workers at the Berlin Brandenburg Airport, which is under construction in Germany. Credit Hayoung Jeon/EPA
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Business: Sweden (Coronavirus economy relaxed lockdown...stronger than the rest) ...
• https://markets.businessinsider.com...own-stronger-rest-of-europe-2020-7-1029415101
• https://markets.businessinsider.com...own-stronger-rest-of-europe-2020-7-1029415101
More stimulus checks in the USA? ...They're gong to need them ...
• https://www.forbes.com/sites/simonmoore/2020/07/21/lawmakers-share-goals-for-july-stimulus-bill/
The stock markets are dong just fine (thanks to Apple and Amazon and Tesla and IBM) even with the unemployment "slightly" on the rise (bad overall for the US economy) ...
• https://www.cnbc.com/2020/07/21/som...ing-great-depression-unemployment-levels.html
• https://www.forbes.com/sites/simonmoore/2020/07/21/lawmakers-share-goals-for-july-stimulus-bill/
The stock markets are dong just fine (thanks to Apple and Amazon and Tesla and IBM) even with the unemployment "slightly" on the rise (bad overall for the US economy) ...
• https://www.cnbc.com/2020/07/21/som...ing-great-depression-unemployment-levels.html
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