Although stocks weakened during yesterday, they closed the trading session higher than the lows.
It seems that the worst of the outbreak could be behind the United States, so the attention of markets is increasingly focused on the planned restart of the economy.
Yesterday was marked by the publication of the results of American banks. As expected, they weren’t nice, but they weren’t shocking either.
Retail sales in the US showed a decrease of 8.7%. Sales of basic goods increased, but were dragged down by the weak results of the food services, petrol and car sales sectors. Analysts expected retail sales statistics to decline by 7.3%.
The Empire State manufacturing survey showed that the General Terms and Conditions Index fell to -78.2 points from -21.5 points last month. However, none of this came as a surprise, given why it happens.
This is also probably why no one has turned a blind eye to the Goldman Sachs report, which said the global economic downturn will be 4 times worse than the financial crisis in 2008. Part of the Goldman Sachs report says the second half recovery will be “unprecedented” and that they expect a full recovery of the stock sector by the end of the year.
And it seems that more and more people think the same thing.
But don’t wait for the other half before you return to the markets. The market is looking ahead and if, like many others, you expect a full recovery in the second half, now is the time to enter. The bear market has officially ended for all major indices and a new bull market has begun.