Historical jobs report tomorrow: 21 million payroll cuts/16% unemployment. Wallstreet rally!

DisastrousImpartialHellbender-size_restricted.gif
 
Futures already starting to lift off for tomorrows opening!!!!!!

Upping it to a 2% skyrocketing open!!!

Dow 30
23,965.5
DERIVED
20:07:14 | Futures
+122.5 +0.51%

S&P 500
2,896.12
DERIVED
20:07:14 | Futures
+16.12 +0.56%

Nasdaq
9,160.50
DERIVED
20:07:16 | Futures
+52.75 +0.58%

SmallCap 2000
1,293.10
DERIVED
20:07:19 | Futures
+8.30 +0.65%
 
S2007S said:
Those are the numbers, and I will repeat they will mean ABSOLUTELY nothing even though these numbers will be historical. I predict zero chances of wallstreet dropping on this news tomorrow morning and actually a rally!!!! Yep a minimum 1% rally coming!!




https://www.businessinsider.com/apr...-decline-unemployment-rate-coronavirus-2020-5
More...

People probably think that companies are trimming the fat. They are mostly right. The unprecedented lay offs have been a convenient way for companies to gain sympathy while cutting the bottom performers.

Obviously nearly 30-40% real unemployment (where we are now) is not all "low performers". Certainly though the market thinks so. Remember the 16% people keep quoting is comprised of the unemployed still looking for work. Since the work requirements have been stowed for now w.r.t unemployment it's likely this number is 2-2.5x greater in reality. Why would you return to work when unemployment and stimulus pay you more than your day job?
 
S2007S said:
Those are the numbers, and I will repeat they will mean ABSOLUTELY nothing even though these numbers will be historical. I predict zero chances of wallstreet dropping on this news tomorrow morning and actually a rally!!!! Yep a minimum 1% rally coming!!




https://www.businessinsider.com/apr...-decline-unemployment-rate-coronavirus-2020-5
More...

Wouldn't be surprised to see the Fed announce yet another stimulus package tomorrow.

Stimulus every week.... soon you're talking real money.
 
Scataphagos said:
Wouldn't be surprised to see the Fed announce yet another stimulus package tomorrow.

Stimulus every week.... soon you're talking real money.
More...


This package will be a couple of trillion, more bailouts for states and local governments. Keep that printing press on full capacity. Almost up to 50% of our yearly gdp!!! Should be at 100% by end of summer. Maybe thats another reason futures are bright green tonight!!! Stimulus every week...only way to keep markets up and totally disconnected from reality.
 
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