The big news right now is the mass hospitalizations of new Coronavirus cases. Thursday it was reported that U.S. hospitalizations surpassed 100,000 for the first time. This pressure on healthcare threatens the entire system.
Meanwhile, U.S. stocks have continued their uptrend this week. The Nasdaq 100 and S&P 500 hit highs. Although cases are climbing fast, the main stock market catalyst is that the first vaccine shots could be administered in less than two weeks.
The economy, unlike the markets, has been greatly impacted by this awful virus. Jobless claims reportedly dropped today, but there are still 712,000 people in the country out of employment. However, it is estimated that the U.S. added 440,000 jobs last month.
The weakness and confusion in the healthcare sector could be what lawmakers need to compromise on a coronavirus relief stimulus package before the holidays.
Watch the full interview as the Midas Letter’s James West and I take a look under the hood of the major U.S. indexes on the back of all this news.
We also give five ETFs in the work-from-home space taking advantage of all the catalysts we’ve just mentioned.
Written by James West.
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