What in the world are investors thinking right now? The coronavirus is crippling the global economy. And you can't stay healthy by simply betting on five big-cap tech stocks....
(Bloomberg Opinion) -- Unemployment is rising at a record rate. Businesses are vanishing in huge numbers. Much of the economy is on life support as fear of a pandemic keeps Americans at home. Global trade and investment are collapsing. The economy is looking at the possibility of a long-lasting depression.So why is the stock market doing so well? The S&P 500 Index is down for the year, but has recovered by half from its March low point:Meanwhile the Shiller cyclically adjusted price-earnings, or CAPE, ratio, a common measure of stock-market valuation, is still at levels that prevailed in the mid-2000s before the financial crisis, suggesting that stocks are still expensive:It’s possible that stock market investors simply expect the economic recovery after the end of lockdowns to be swift and robust. But that’s looking increasingly unlikely. The U.S. has failed to suppress the epidemic, and lifting lockdowns is unlikely to bring people...
Ford (F) is asking key workers to return to work this week, according to a report from the Detroit Free Press.“We are asking a small number of hourly and salaried workers to return to work this week in preparation for a restart at a future date, which has not yet been determined” said Kelli Felker, Ford global manufacturing and communications manager.“These workers will begin putting safety protocols in place that we will use when we do reopen our facilities,” she added.Since late May, Ford has closed its factories including all Detroit Three assembly lines due to the coronavirus pandemic. According to the Detroit Free Press, those employees who do return to work this week will be given special ‘volunteer’ status. This means that workers will be paid for work they do, but workers who decide to stay at home will not be penalized.Ford stock has plunged 47% year-to-date, and analysts are concerned that further pullbacks...
Georgia Gov. Brian Kemp’s decision to open some nonessential businesses this week was embraced by some while drawing protests from others. WSJ’s Cameron McWhirter reports from on the ground near Atlanta as business owners weigh saving their businesses and safety concerns. Photo: Ron Harris/AP...
