Is The Value Rotation in Markets "Over"? (w/ Ed Harrison and Jack Farley) | Summary and Q&A

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November 12, 2020
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Is The Value Rotation in Markets "Over"? (w/ Ed Harrison and Jack Farley)

TL;DR

COVID-19 cases in the US are surpassing 100,000 daily, while jobless claims have seen a slight decline, indicating a slow recovery.

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Questions & Answers

Q: How are COVID-19 cases and hospitalizations in the US compared to previous waves?

COVID-19 cases in the US have been exceeding 100,000 daily since November 4th, with hospitalizations reaching levels similar to previous waves. ICU patients are at their highest since May.

Q: Are testing rates increasing along with the rise in COVID-19 cases?

Yes, testing rates have increased by 6.6% in the past seven days. However, despite increased testing, positivity rates are also increasing nationally, suggesting that the true extent of COVID-19 spread may be greater than reported.

Q: What is the current state of jobless claims in the US?

Jobless claims have declined to 709,000, the lowest number since the initial spike in March. However, concerns remain about the long-term impact of unemployed individuals exhausting their benefits and dropping out of the labor market.

Q: How is the stock market responding to these developments?

The stock market is experiencing volatility, with a recent shift towards value stocks. However, the long-term impact will depend on factors such as the speed of vaccine administration and the extent of economic damage caused by the virus.

Summary & Key Takeaways

  • US COVID-19 cases have been exceeding 100,000 daily since November 4th, with hospitalizations reaching levels similar to previous waves. ICU patients are at their highest since May.

  • Testing and positivity rates are increasing, suggesting that the true extent of COVID-19 spread may be greater than reported.

  • Jobless claims have declined to 709,000, the lowest number since the initial spike in March. However, concerns remain about the long-term impact of unemployed individuals exhausting their benefits and dropping out of the labor market.

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