TLDR:
Economic data is deteriorating fast with Q2 GDP likely down 35% and unemployment reaching 20%+.Opening up the economy is going to be tough if not combined with testing, tracking and capacity at hospitals.Corporate debt defaults are expected to surge to 10-15%.2020 S&P earnings are set to decline but analysts opinions are differing drastically. I favor a cautious approach for portfolios for the near term as markets have almost fully recovered their lows reached in March.
There are a lot of questions about what direction the market will be headed next. As it stands now, the S&P is down around 10% YTD, and the NASDAQ is flat driven by companies such as Amazon, Google, Netflix, Apple, Microsoft and several others. My conversations ...
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