Daily Covid and Markets - Wednesday August 12
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 12 August 2020
⏱️ 11 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
Market futures were up another 250 points at 3:45am this morning and I immediately thought, “Oh, does Iran have a working vaccine now?” (If you are missing my joke, see yesterday’s missive on Russia). But in all seriousness, markets continue to be trading with very positive sentiment, and with no regard for a stimulus deal (more on that below). The markets ended up today nearly 300 points, and the S&P and Nasdaq each did even better. I simply do not believe the market cares (right now) about a stimulus deal, and the markets digestion (all summer) of the COVID reality has been remarkable.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.3 | Hello and welcome to today's COVID in Markets podcast brought to you by Dividing Cafe of the Bonson Group. |
| 0:18.0 | It is Wednesday, August the 12th. Market was up another 300 points today. |
| 0:24.6 | The futures were up 250 in the morning and it kind of just held throughout the day. |
| 0:30.3 | And so the broadening of that market rally, I think, is becoming an even bigger story. |
| 0:35.7 | Let me do this. |
| 0:36.4 | I'm actually going to jump right into the health data and then come back to some market stuff. |
| 0:40.6 | But bottom line, S&P and NASDAQy up even more. |
| 0:44.0 | Dow up, very close to 300 points. |
| 0:47.0 | So what is it now? |
| 0:48.0 | Eight out of nine days. |
| 0:49.7 | Getting close to 2,000 points up in August. |
| 0:53.8 | And so we'll cover some of that here in a moment. Cases... getting close to 2,000 points up in August. |
| 0:55.8 | And so we'll cover some of that here in a moment. |
| 1:04.5 | Cases right now are around the same level today, yesterday, with a very high backlog reporting. |
| 1:13.7 | And the number of COVID-like illness visits to the emergency room nationally hit the 50% spot to 50% mark today of how far it is down across the country, 50% from its high level, |
| 1:20.9 | which was about two weeks ago. |
| 1:24.2 | And so hospitalizations and deaths are most, you know, assuredly about to show decline based on the precedent of COVID-like illnesses and emergency room leading the way all through the data points that we've been following all summer long. |
| 1:39.9 | You see a real, real encouraging, not just drop or decrease, but a collapse in COVID-like |
| 1:47.4 | illnesses going into the emergency centers of hospitals and so forth. |
| 1:52.6 | Culturally, let me just quickly address, the PAC 12 and Big 10 both have canceled their football |
| 1:58.6 | seasons for 2020. |
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