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Americans locked at homes for 9 wks are anxious to participate in a C-19 coronavirus experiment that begins this Memorial Day weekend, with all 50 States open at least in part.
People are filling resorts, casting aside masks at the mall and eating out. That freedom will boost an economy that has seen almost 39-M people file for unemployment over the past 9 wks, more than during the whole of the Great Recession.
The People are fleeing wks of home isolation for beaches, parks and other leisure destinations over the Memorial Day weekend, and that has some so called experts concerned about a spike in C-19 coronavirus cases.
Weekend Road Trips in the US rebounded to 80% of pre-March levels after reaching a low of 47% in early April, according to figures from traffic data provider Inrix. Weekend travel levels are also roughly on par with weekday volumes, suggesting more people are taking leisure trips during their days off. And gasoline is the cheapest in many years!
Airlines say bookings have recently begun to exceed cancellations for the 1st time since the C-19 coronavirus chaos caused demand to dive in March. .
And many workers are anxious about returning during the medical malpractice chaos in which cases have leveled off in many areas, but have not dropped as dramatically as many health experts would have liked. Likely as they are on the Big Dole.
Friday, the major US stock market indexes finished flat to unchanged on light volume: DJIA -8.96 to 24465.16, NAS Comp +39.71 at 9324.61, S&P 500 +6.94 at 2955.32
Volume: Trade on the NYSE came in at 720-M/shares exchanged
- NAS Comp +3.9% YTD
- S&P 500 -8.5% YTD
- DJIA -14.3% YTD
- Russell 2000 -18.8% YTD
HeffX-LTN’s overall technical outlook for the major US stock market indexes is Bullish with a Very Bullish bias for the week ended 22 May 2020
Looking Ahead: The US financial markets are closed Monday in observance of Memorial Day.
Have a healthy Memorial Day weekend