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

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.

Key Insights

• 👋 COVID-19 cases in the US are surging, with hospitalizations reaching levels similar to previous waves.
• ☠️ Increased testing rates are leading to higher positivity rates, suggesting the true extent of COVID-19 spread may be underreported.
• 💦 Jobless claims have declined, indicating a slow recovery in the labor market. However, concerns remain about the long-term impact of unemployed individuals dropping out of the market.

Transcript

hi i'm jack farley with real vision welcome to the daily briefing it's november 12th 2020. i'm going to be joined shortly by our managing editor ed harrison but first peter cooper with the day's stories thanks jack since november 4th the us has been breaking above the 100 000 daily covet cases threshold with yesterday reporting 144 270 new cases ac... Read More

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.