Wall Street is social distancing from Main Street. April was the best month for stocks since 1987, but the 36.5 million new unemployment claims filed harken back to the Great Depression. What gives?In an informative webinar on May 22, Chief Investment Officer Tony Roth, Chief Economist Luke Tilley and Head of Investment Strategy Meghan Shue, broke it all down in terms of our house view of what you can expect for markets and the economy. Listen now.
May 26— The unprecedented economic circumstances stemming from the COVID-19 pandemic are only beginning to be understood and will likely be felt for some time.
May 22, 2020—Just one month has passed since West Texas Intermediate (WTI) crude oil, the U.S. benchmark, moved into uncharted territory and closed the day at a shocking -$37.63/barrel, indicating that owners of a “front month” contract (for delivery of oil in the following month) would have to pay a premium to offload it (as opposed to receiving proceeds from the sale, as is customary).