June 19, 2020, 12:44 pm EDT
Turning Point
Opening DJIA +300 points faded away and turned to -130 points after three hours. Potential resurgences of COVD-19 could be the threat for the US economy after mass protest and street activities in the past few weeks.
This is a turning point for stock markets and the US economy. Stock markets came back to all time high for Nasdaq and near record level for DJIA and S&P. It bets on full economic recovery and strong consumer confidence in the post-virus era. Whether it will happen or not will reflect this assumption.
In fact, global COVD-19 numbers made a new high. The US also has quick increases in California, Texas, Arizona and Florida. Today, the health sector (XLV) +0.37% performs well as of now.
Gold is another area that needs attention for both gold price (GLD) +0.9% and gold miners (GDX) +3.5%.
