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Just hang in there gentlemen, don't leave and let them take it over. It should quite down after the election...
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NASDAQ is not the only stock market to be doing well. Here in Canada, the Toronto Stock Market hit a 5 year high on 20 February. It then collapsed by 37% by 23 March. It has now climbed back up to only 10% of that 5 year high and is pretty close to the average of the last year. As Roadkingtrax points out, the stock market is not exactly the same thing as the general economy which of course includes all of the goods and services produced and sold - really the Gross Domestic Product or GDP. Having said that, the rise of the stock market does suggest that there is optimism that the economy will recover fairly quickly and that the companies listed on the various stock exchanges will be making money. Implicit in that assumption is that the companies will be re-hiring their laid off staff.
Personally, I think that the source of the optimism is the fact that at least 10 companies in different countries have started to do advanced testing of a COVID vaccine and the odds are that at least one of these and probably more will be effective. I have read that there are about 100 organizations working on a vaccine now. Years ago when I was helping to set up a Canadian government agency to monitor drug prices, I was told that of every 10 drugs that go into some form of testing, seven are total failures, two work but don't make much money for the company and one is a winner. With 100 organizations working on vaccines, I think that the optimism is probably valid.Comment
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