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Two of the key macro data trends we want to be paying close attention to in order to know how, when, and if there is a recovery, are jobs and consumer sentiment.
Tomorrow we get several releases from the height of the pandemic on job openings and consumer sales. This will give us some clear insight into how the COVID-19 situation is evolving.
We can expect the April data to be key because it’s from what we hope will turn out to be the worst month for the economy. Barring a second wave, hopefully from here, it’s a climb back to normal.
Part of getting a handle on what to expect from a recovery is knowing how far down things have gone. If all goes well, that’s the data we’ll be able to analyze tomorrow.
What We Are Looking For
We can expect retail sales figures to be the driving force behind the market for the rest of the week. Many retailers had better than expected sales in March because of panic buying, but that’s not the case in April.
In fact, we expect...
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