Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Hello and welcome to today's COVID in markets brought to you by the Dividing Cafe of the Bonson Group. This is David Bonson, Chief Investment Officer of the Bonson Group. It is Wednesday,

June the 3rd, with our daily COVID and markets missive. The Dow exploded 527 points higher today,

now well past 26,000 on the Dow and in the high range of our general short-term target, reets, financials,

energy names led the way today. And so the general question, which I assure you I get asked

somewhere in the range of 10 to 20 times a day, which is totally fine. It's understandable and rational question. But the question

of some version, how can the markets be going higher when blank? The answer remains no different,

regardless of how you fill in that blank. First, markets need no reason to do what they do in either direction ever.

Second, they're forward looking, have incredible knack for shaking off what they know will be out

of the news in days, if not hours. Third, the Fed. Fourth, economic reopening, and I'll add

that with that the health data is going very well.

And fifth, the Fed.

If I was going to add a six, it would be the economic reopening is going very well, and the

seventh would be the Fed.

I don't know if that joke is funny or not, but I'm just sitting here by myself so I can say

whatever I want.

The health data, when I refer to it going well, let me kind of give you some context on the numbers today.

Case growth of just above 1% is where our daily pattern is right now.

A new case number right now is averaging somewhere around 20,000.

It's been there.

Yet that number is staying in place even as the rolling averages for new testing numbers is beginning to go much higher.

And so new cases are declining when you adjust for the rolling average of testing numbers.

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