So, we just found out that 30M Americans lost their jobs in a month, and the DOW is up 300 points

[maxrandb]

Can we please stop using the Stock Market to measure the strength of the economy?

[panader0]

1. The stock market is Wall Street, not Main Street.

It's a poker game for the rich. That the DOW can go up and down on whims
show it's irrelevancy in measuring what real people do.

[SamKnause]

2. Wall Street is corrupt.

A ponzi scheme run by unethical people who control the world.

[ck4829]

3. K&R

[Baclava]

4. Pork belly futures, there's a tip

[sfstaxprep]

6. I Have A Hot Tip On Frozen Concentrated Orange Juice nt

[captain queeg]

5. That's a trend I've noticed for a long time.

Maybe getting rid of employees is considered good business.

[maxrandb]

12. The 1% are salivating about all the cheap labor that will be available

When people will work for peanuts so they don't completely starve.

Please sir, may I have some more

[duforsure]

7. All trump supporters should now invest heavily in it,

If they trust trump, lol, then when it crashes maybe then they'll wake up and realize he is the one causing this nightmare.

[DrToast]

8. "So, we just found out that 30M Americans "

No we didn't. We learned that over the last few weeks and it's been known that would happen for even longer.

Why are you trying to correlate the two things?

[Doodley]

9. Stock market is up because states are reopening and they expect things to

return to normal. Ain't gonna happen.

[uponit7771]

11. That's the excuse but its big money poring into FAANG vs the feds because they don't want to pay

... the US to keep their money.

If those five stocks sneeze the rest of the indexes will get pneumonia and people are going to get face smashed.

Right now the NASDAQ is positive for the year, on CNBC they're shaking their heads at the stupidity of preasurizing those five stocks cause if anything goes sideways people are going to get screwed.

[uponit7771]

10. K&R,Be careful A lot of funds are moving big money into NASDAQ stay home stocks like Facebook,

... Amazon, apple, netflix and Google (FAANG) and if these stocks sneeze the rest of the worlds markets will get a cold.

Big funds aren't making money in treasuries or even paying the US to keep money so this is all they got

[SoonerPride]

13. It won't last

[Midnight Writer]

14. Wall Street has realized they no longer need American workers or American consumers.

They can buy cheaper labor elsewhere and sell more products elsewhere.

[ecstatic]

15. My brother says the fed is propping it up

by pumping trillions of dollars into it.

[SouthernCal_Dem]

16. This is true

The Fed is buying US treasuries, investment grade corporate debt, and even junk bonds (high yield).

I think they've pumped at least $4 trillion into this buying program.

Financial institutions sell these securities to the Fed and that money then goes into the stock market. That's why we're almost at record valuations based on forward p/e.

In other words, stocks are more overvalued now than ever as corporate earning are projected to collapse over the next year.

[MoonlitKnight]

19. Fed has pumped from 43-48% of 2020 GDP into the bond markets

This is from April 24

“ As a proportion of nominal GDP, the Fed’s balance sheet was 19% in 4Q19, the ECB’s at 39%, the BoE at 26% and the BoJ at 105%. At the time of writing, the Fed’s balance sheet has already increased to the equivalent of 32% of estimated 2020 GDP with a commitment to open–ended QE purchases and a recent announcement of an additional USD2.3 trillion (11% of GDP) credit facility for business lending. We see the Fed balance sheet – on a broad basis including QE and other components – reaching about USD10 trillion by year-end.”

https://www.fitchratings.com/research/sovereigns/economics-dashboard-central-bank-balance-sheets-central-banks-balance-sheets-surge-on-coronavirus-crisis-24-04-2020

[pansypoo53219]

17. years ago, on a NPR show, it said wall street thrives on bad.

[maxrandb]

18. 14.7% Unemployment and the Stock Market is up 340 points

https://m.

[MoonlitKnight]

20. By the way

June WTI options expire on Thursday next week. It will be interesting to see if we have a repeat of last month’s negative price.