This was the best week for the Dow since April as it rallied 3.29%, making it the best week since April 9. Optimism continues to drive this market as there is increasing talk of a vaccine, while the US is slowly, state-by-state, opening its economy. Dr Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, suggested that vaccine data from Moderna was promising.
He also said he was “enthusiastic” about the economy reopening. Here in Japan we are now seeing positive comments from the government led by Prime Minister Abe who is also slowly opening the Japanese economy. The key now is to assess the damage done by the closing of Japan, the US and other economies and we wonder just how fast the recovery will advance. Some are saying that a recession or even depression is on the way.
Getting people back to work will require safe working platforms, as well as a biological solution to this global shut down. How fast will the consumer bounce back and just how fast will economies follow?