More Americans emerge from lockdown; markets buoyed by virus vaccine potential

[webfact]

More Americans emerge from lockdown; markets buoyed by virus vaccine potential

By Maria Caspani and Rajesh Kumar Singh

 

A "We're Hiring" sign advertising jobs is seen at the entrance of a restaurant, as Miami-Dade County eases some of the lockdown measures put in place during the coronavirus disease (COVID-19) outbreak, in Miami, Florida, U.S., May 18, 2020. REUTERS/Marco Bello

 

NEW YORK (Reuters) - The phased reopening of U.S. business and social life gained traction on Monday with more Americans emerging from coronavirus lockdowns and financial markets rising on promising early results from the first U.S. vaccine trial in humans.

 

A COVID-19 vaccine under development by biotech firm Moderna Inc, based in Cambridge, Massachusetts, produced protective antibodies in a small group of healthy volunteers for a safety trial launched in March, the company said.

 

The findings, offering a glimmer of hope that the vaccine may ultimately prove effective, sent company shares 22% higher on Monday and helped lift the overall stock market about 3% to a 10-week high.

 

Until a vaccine or cure can be found, lockdowns on commerce and social gatherings have been the chief weapon for fighting the pandemic while nevertheless ravaging the U.S. economy.

 

At the same time, public health experts caution that easing stay-at-home orders and mandatory business closures is still risky while diagnostic testing remains scant in many places, leaving in doubt how much virus lurks undetected.

 

Although nearly all 50 states have begun reopening, only 13 had met federal guidelines for safely lifting restrictions as of Sunday, according to a Reuters analysis, raising concerns that infections and deaths could surge anew.

 

Although some consumers have voiced hesitancy about returning to shopping malls and restaurants just yet, others were clearly ready to do so.

Martin Bermudez, 48, and Jorge Miranda, 61, enjoyed ham and cheese omelets on Monday morning as Miami's Luis Galindo's Latin America cafe welcomed diners back for table service after more than two months of only takeout.

 

"We need to get the economy going again, people are either out of money, or will be very soon," Bermudez said. "It's going to be a process, though, and people need to be responsible."

 

The pandemic has afflicted the United States more than any other country, with more than 1.5 million known infections and nearly 90,000 deaths.

 

New York state, epicenter of the U.S. pandemic with 27,400 COVID-19 deaths to date, registered further evidence of improvement as its three-day rolling average of hospitalizations and tally of newly reported fatalities both declined.

 

GRAPHIC: Tracking the novel coronavirus in the United States - https://graphics.reuters.com/HEALTH-CORONAVIRUS-USA/0100B5K8423/index.html

 

In a sign of growing confidence in curbing the contagion, New York Governor Andrew Cuomo said he was looking forward to professional sports teams to begin competing again, though without fans in attendance.

 

Cuomo said six of the state's least-densely populated regions would be ready to start reopening on Tuesday, while restrictions are to remain in effect in four others, including the hard-hit New York City metropolitan area.

 

Across the country in the San Francisco Bay area, health directors in five counties said manufacturing and retail with curbside pickup and warehouse distribution could reopen. Factories were permitted to resume production across the rest of California earlier this month.

 

ASSEMBLY LINES

In the Midwest, the U.S. auto industry slowly returned to life from a two-month lockdown as the Detroit Three carmakers and their suppliers began restarting assembly lines in a sector that employs nearly 1 million people.

 

Hundreds of workers at Fiat Chrysler Automobile's (FCA) truck plant in Warren, Michigan, began lining up before dawn for the early shift. Signs overhead read: "Let's restart."

 

"I'm a little nervous," said Larry Smith, 53, who works on wheel alignment away from the assembly line. "They made all the precautions (and) they've done everything they can to prepare us ... I'm trusting in God."

 

The auto industry is widely watched as a test case for whether workers across a range of U.S. industries can safely return to factory floors.

 

Offices and fitness centers in Texas were allowed to reopen on Monday at 25% capacity, and Governor Greg Abbott, a Republican, was expected to announce more openings later on Monday.

 

Dallas Mayor Eric Johnson said on Monday that a spike in cases reported in Texas over the weekend likely stemmed from the reopening of parts of the state's economy early this month.

 

Protesters chafing at restrictions have made their voices heard in various parts of the country, sometimes encouraged by President Donald Trump, eager to jumpstart the economy as he seeks re-election in November.

 

"REOPEN OUR COUNTRY!" Trump wrote in a Twitter post on Monday and "TRANSITION TO GREATNESS."

 

One gym in New Jersey and one in Pennsylvania were drawing attention for defying state shutdown orders. But the owners of both said in Facebook posts that they would impose safety measures such as disinfection and limited capacity.

 

Ian Smith, owner of Atilis Gym in Bellmawr, New Jersey, described the state's shutdown order as a "gross violation of constitutional rights" before welcoming back patrons on Monday.

 

As the club reopened its doors, a crowd of supporters chanted, "USA! USA!" and waved American flags and Trump 2020 banners.

 

GRAPHIC: Where U.S. coronavirus cases are on the rise - https://graphics.reuters.com/HEALTH-CORONAVIRUS/USA-TRENDS/dgkvlgkrkpb/index.html

 

(Reporting by Maria Caspani in New York and and Rajesh Kumar Singh in Chicago; Additional reporting by Brad Brooks in Austin, Texas, Zachary Fagenson in Miami and Nathan Layne in Wilton, Connecticut; Writing by Grant McCool and Steve Gorman; Editing by Frank McGurty and Howard Goller)

 

-- © Copyright Reuters 2020-05-19

 

- Whatever you're going through, the Samaritans are here for you

- Follow Thaivisa on LINE for breaking COVID-19 updates

[Cryingdick]

Reuters is really becoming pathetic. I saw on Fox of all places about the NJ. gym. Nobody was chanting and holding flags. The police came and said "You are in violation of state orders, have a nice day and stay safe." Then they left. There were a bunch of people working out as they do at gyms. Say what you want about Fox but they were on the ground at the location.

 

On the bright side the narrative of evil corporations bullying people to come out is debunked as these are customers willingly coming out. A lot of people are quite tired of what's going on in the USA. The others are germaphobes stuck in their flats presumably with some underlying condition that has them scared to death. 

 

The media is doing everything they can to make the situation way overblown.  They over report the dangers and never follow up when there is success. 

[DoctorG]

Yep, and all the NYers drinking in the streets outside of bars, and the thousands flocking to Virginia beach were undoubtedly Trump supporters too.

[how241]

Funny how the news reporters always come up with some 'one-liner'  for why the markets went up or down each day.  As if they asked the ONE stock owner, who controls all markets, why he bought/sold on that day.  More funny,  is that people actually believe this b/s. The news is used as part of the total market manipulation. 

[Isaan sailor]

It begs the question: why were thousands of Chinese from Wuhan allowed to fly to New York, London, Milan in January and February—while the CCP cancelled flights to Beijing from Wuhan?

[puipuitom]

5 minutes ago, Isaan sailor said:

It begs the question: why were thousands of Chinese from Wuhan allowed to fly to New York, London, Milan in January and February—while the CCP cancelled flights to Beijing from Wuhan?

Because there was MONEY to make... and in the USA health = M O N E Y .

Edited May 19, 2020 by puipuitom

[Cryingdick]

3 hours ago, how241 said:

Funny how the news reporters always come up with some 'one-liner'  for why the markets went up or down each day.  As if they asked the ONE stock owner, who controls all markets, why he bought/sold on that day.  More funny,  is that people actually believe this b/s. The news is used as part of the total market manipulation. 

 

I trade on the news all the time. I do not invest based upon passing news but it can be good for a quick trade. More than the news Trump's tweets can make for monster trades.

[SiSePuede419]

Conclusion: The stock market does not always behave rationally.  Sometimes it behaves based on pure emotion, like greed or fear.

 

Sidenote: This is why rational people often don't do well investing in the market, because they base their trading decisions on facts and data.

 

Quite often, I've noticed dumb, stubborn people do better in the market because they invest based on emotions and ignore the data. ????????????????????

[Crazy Alex]

Reminder to all: if you think you're at risk, you can always stay home. The rest of us have had enough and demand life, liberty and the pursuit of happiness.

[Cryingdick]

54 minutes ago, SiSePuede419 said:

Conclusion: The stock market does not always behave rationally.  Sometimes it behaves based on pure emotion, like greed or fear.

 

Sidenote: This is why rational people often don't do well investing in the market, because they base their trading decisions on facts and data.

 

Quite often, I've noticed dumb, stubborn people do better in the market because they invest based on emotions and ignore the data. ????????????????????

 

To make money on the markets you have to actually know what you are doing. The covid 19 era stock market has been the easiest pickings I have ever seen. Some stocks aren't trading based upon reality because there is no forward guidance. However the biggest winners are all hiding in plain site. 

 

Your average "rational" person buys index funds because they are told that's the only way to go. They are brainwashed into thinking that 7% a year is a great return. I can't think of anything in life where you are told to not look at the price, invest the same amount every month on the same day without checking, and hold it forever. This is how people treat their life savings.

 

But if you think smart people are poor and dumb people get rich that's on you I guess. In the mean time I will keep staying with big tech, online retail, the cloud. The virus has basically taken 80% of the market off the table as losers so those that win, drive the entire market. 

 

Also don't trade or invest your politics. I would buy a company that makes glib, green, solar powered, feminazis, that spray a self righteous disinfectant, If I felt the numbers are right. 

Edited May 19, 2020 by Cryingdick

[riclag]

15 hours ago, Cryingdick said:

Reuters is really becoming pathetic. I saw on Fox of all places about the NJ. gym. Nobody was chanting and holding flags. The police came and said "You are in violation of state orders, have a nice day and stay safe." Then they left. There were a bunch of people working out as they do at gyms. Say what you want about Fox but they were on the ground at the location.

 

On the bright side the narrative of evil corporations bullying people to come out is debunked as these are customers willingly coming out. A lot of people are quite tired of what's going on in the USA. The others are germaphobes stuck in their flats presumably with some underlying condition that has them scared to death. 

 

The media is doing everything they can to make the situation way overblown.  They over report the dangers and never follow up when there is success. 

 

1 hour ago, Crazy Alex said:

Reminder to all: if you think you're at risk, you can always stay home. The rest of us have had enough and demand life, liberty and the pursuit of happiness.

 Brilliant !

[timendres]

10 hours ago, how241 said:

Funny how the news reporters always come up with some 'one-liner'  for why the markets went up or down each day.  As if they asked the ONE stock owner, who controls all markets, why he bought/sold on that day.  More funny,  is that people actually believe this b/s. The news is used as part of the total market manipulation. 

At the moment, the smart money is slowly unwinding into the hands of the less knowledgeable and retail crowd. This will continue on the "positive" news that comes out over the next few weeks. As the real cost of the global shutdown begins to unfold, the dumb money will get crushed.

[Crazy Alex]

5 hours ago, Cryingdick said:

 

To make money on the markets you have to actually know what you are doing. The covid 19 era stock market has been the easiest pickings I have ever seen. Some stocks aren't trading based upon reality because there is no forward guidance. However the biggest winners are all hiding in plain site. 

 

Your average "rational" person buys index funds because they are told that's the only way to go. They are brainwashed into thinking that 7% a year is a great return. I can't think of anything in life where you are told to not look at the price, invest the same amount every month on the same day without checking, and hold it forever. This is how people treat their life savings.

 

But if you think smart people are poor and dumb people get rich that's on you I guess. In the mean time I will keep staying with big tech, online retail, the cloud. The virus has basically taken 80% of the market off the table as losers so those that win, drive the entire market. 

 

Also don't trade or invest your politics. I would buy a company that makes glib, green, solar powered, feminazis, that spray a self righteous disinfectant, If I felt the numbers are right. 

I've only bought one stock during this crisis. Halliburton (HAL) at $7.71. I'm up 44%. No complaints. I figure they were punished not only for the virus, but low oil prices as well. They've managed to survive over 100 years.

[UbonThani]

6 hours ago, Crazy Alex said:

Reminder to all: if you think you're at risk, you can always stay home. The rest of us have had enough and demand life, liberty and the pursuit of happiness.

socialists r never happy

thats why they r socialists

[how241]

12 hours ago, timendres said:

At the moment, the smart money is slowly unwinding into the hands of the less knowledgeable and retail crowd. This will continue on the "positive" news that comes out over the next few weeks. As the real cost of the global shutdown begins to unfold, the dumb money will get crushed.

I think you are 100%  correct.  The smart money(Institutions)  is selling as the markets are rising. I heard this yesterday on Boom-Bust(TV show on RT).

[Thailand]

 

"President Donald Trump has argued it is "a badge of honor" that the US has the world's highest number of confirmed Covid-19 infections.

"I look at that as, in a certain respect, as being a good thing because it means our testing is much better," he said at the White House.

The US has 1.5 million coronavirus cases and nearly 92,000 deaths, according to Johns Hopkins University."