Stock Market

[Ben Rhimene]

Thanks guys. I'll go back to reading my books.

It was a great question...got me to think it through. I have found it useful to always challenge the underlying premise...if the first step is fallacious then most of what follows is at risk.

Keep'em cumming...a welcome distraction from RW issues and the drama in other sub-forums.

[Dorthy Monroe]

I am not totally financially illiterate, but I am not extremely educated about the stock market either.

Can someone please explain to me like I am 5 years old what exactly is happening to the markets and possible long term ramifications?

I am curious about the where the economy is currently going and I know we have some folks here that are well educated that can explain and/or direct me to resources.

Download this app called fantasy finance it will teach you everything you need to know

[Ben Rhimene]

This post less about stocks and more a market data update for those of you who are more casual followers. Key data is released via schedules and stocks respond to this data.

This morning, non-farm payroll fell 20.5 million in April, and the sad thing is that number was slightly better than expected. This is the most since the Great Depression. Initial jobless claims is over 30 million the past 6 weeks. The unemployment rate is now 14.7% (also slightly better than expected), which is the highest since the 40's! Average hourly earnings are up. Normally that is good, but it is up because most of those newly unemployed were lower wage earners.

My personal sense is the markets will start trending up. Bad numbers were expected and these weren't as bad as most feared. The concern will be if the second wave is bad and we see a sawtooth recovery instead of a V shape.