At 8:30 a.m. we get the latest jobless claims figure and it’s expected to dip again, though not very much, to 3 million from 3.8 million, putting the total since mid-March at a staggering 33 million
— Our Zachary Warmbrodt: “A top Senate Democrat responsible for oversight of small business rescue efforts during the Covid-19 pandemic said … that Congress will need to approve more money for emergency loans that have proven to be hugely popular. … In an interview with POLITICO … Sen.WHY IS WALL STREET SO BULLISH?but have generally risen since hitting their Covid-19 bottom on March 23.
Right now, markets are driven by “a sense of hope infused by the fact that we have parallel monetary and fiscal stimulus which we haven’t had for a long time. That’s a hard bazooka to ignore.”— More from Markham on Covid-19’s impact: “If you believe over time there is going to be a transition of valuations to the new economy and technology sectors, you could make the point that this whole Covid period has compressed several years of behavioral shifts into a very short period of weeks.
“Over the last 24 hours, the White House rolled out a variety of shifting messages and confusing justifications about what would become of its coronavirus task force, some members of which have become the admired face of the Trump administration’s response to the pandemic.
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