Global Markets Recap
Out of nowhere, small businesses are “back”. My dentist Dr. Richard DiVerde – the funniest & greatest dentist there is – opens June 1st on Michigan Avenue. Financial services firms in New York City are being told they’re virtually “essential” businesses & the widespread expectation is many will be returning….at some point. Date unknown still; it’s not looking like never. Do you mean this entire shutdown may have a real end date? What a relief.
One of the big questions is how many businesses will reopen & what percentage of former staff will be brought back. How many new companies will be formed & what number of temporarily-shuddered firms will remain closed for good. All of these are questions without firm answers at this time; but with not-so-insignificant trepidation, workers are expected to trickle back into downtown office buildings – & throughout parts of the country – sooner rather than later. We’ll see how it goes.
The NYSE opened for floor traders, and stocks – er, computer programs – went ballistic on their return. It’s happening, folks. Maybe it took Joe Biden coming out of his basement to send a message to us all we can’t remain shut-ins forever. It just won’t work that way. There’s risk in getting out of bed every morning; there’s risk staying in bed every morning.