Stocks have been up for three straight days, but it appears this streak might be coming to an end as the market has been jumping back and forth all morning. One of the items that has investors worried is the continuation in the number of virus cases … as the daily count is not much different than it was a month ago … regardless of the increase in outdoor temperature. Sure, it actually might be due to more testing as some claim … but we might be over 120,000 reported deaths by the end of the day … and there is now indication, according to the model once used by the White House, that we could be over 200,000 come October.
A big question now, of course, is if we have entered the “second phase” … or if the first one has yet to complete. Some schools, however, are taking early precautions … doing away with a fall “break” … doing a degree of learning via computer when able … and shutting down from Thanksgiving until after the New Year.
In addition … as if we didn’t have enough to worry about … there are now reports that flushing toilets help spread the virus … as the “cloud” lingers in the bathroom stall … ready to pounce on the next visitor. Of course, every cloud has a silver lining I guess … and once word gets out we should certainly see an increase in the sale of adult diapers.
On a final note, it’s kind of strange … and could be proof that money, indeed, does not buy happiness
Even in light of all that is going on, markets have almost tripled from where they were 10 years ago … tripled. Are many of those who were invested, better off? Probably. And when you think about it such things as education have improved as has life expectancy. Cancer is still a problem but not necessarily a death sentence as it was back then. And entertainment … well … watching almost any movie … and playing all sorts of games … is at our fingertips. On top of that, we’ve been pretty safe. What the heck do we have to complain about?
Yet, today there is a report that Americans are the unhappiest they have been in the last 50 years!
Maybe we just expect and demand too much.
Maybe we are turning into a society of “Karens.”
And maybe … if we want to focus on the negatives and steadfastly refuse to count our many wonderful blessings … we should don masks all the time, virus or no virus …
… for they will hide the frowns we voluntarily choose to wear.
Have a great day,
Joseph G. Witthohn, CFA
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
Direct: (610) 285-9905
cell: (856) 625-7915
… as of 11:51 AM today …
Quick Look at the News
With all going on right now, it might be little wonder that people in the U.S. ... according to one survey ... are the unhappiest they've been in the last 50 years (APNews)https://apnews.com/0f6b9be04fa0d3194401821a72665a50
... even as the death toll of the coronavirus continues to mount. In a few short months we've lost more to the virus than we did during the entire World War I skirmish (Fortune)https://fortune.com/2020/06/16/coronavirus-deaths-us-covid-19-death-toll-higher-wwi-total-how-many-dead/
... though one thing might put a smile on a few faces ... mortgage rates. These continue to drop and there really seems to be no near-term end in sight (TheStreet)https://www.thestreet.com/investing/us-mortgage-rates-tumble-to-fresh-record-low-of-3-3
Don't get close to me ... at least if we work together at Amazon. The company might soon install a device that beeps if another employee is too near. Hmm ... will it be on the site soon? (CNBC)https://www.cnbc.com/2020/06/16/amazon-tests-wearable-social-distancing-device-for-warehouse-workers.html
So much for that college education. The virus certainly has some rethinking the value of their degree ... and even if the degree matters at all. Interesting fall coming up (CNBC)https://www.cnbc.com/2020/06/17/threat-unleashed-by-covid-that-could-sink-high-priced-college-degrees.html
Meanwhile, warnings about almost everything are out there ... and now flushing toilets are seen as possible spreaders. So ... if next in line for the toilet ... you might want to wait a while (Boston)https://www.boston.com/news/coronavirus/2020/06/16/flushing-toilet-covid
... and if you want to buy a dog ... and don't want to worry about droppings or fleas ... a mechanical one might do. This looks great ... but carries quite an expense (CNN)https://www.cnn.com/2020/06/16/tech/boston-dynamics-robot-dog-spot-sale/index.html