Trump Battles Governors: When to Re-Open America

President Trump says that he’ll decide when America’s lockdown ends.

The assertion from President Trump came after governors began making plans for a coordinated re-opening. Groups of states on the west coast and in the northeast agreed to work together in the coming weeks.

The Trump White House allowed each state to decide when to implement “stay-at-home orders.” While governors believe that they have the authority to determine when to remove those directives, Trump says the authority to lift them is his.

There’s an urgent push to re-open the U.S. economy quickly.

In Europe, restrictions are already being lifted in small ways. In Austria, hardware and home improvement stores opened on Tuesday. Spain is allowing construction and factory workers to return to work. And in Italy, some stores have been allowed to reopen.

This week we’ll get a glimpse into the economic impact of the outbreak.

That’s because U.S. corporations will begin reporting quarterly earnings for the period of January – March. While the U.S. economy was healthy in January and February, things began deteriorating by early March. It’s expected that the current quarter will see far worse results.

Investors will be closely watching earnings in order to fully understand the fallout. And we can expect stocks to be making big moves this week.

This increased volatility is creating a huge and profitable trade setup.

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The Big News…

New $1 Trillion Stimulus

Republicans on Capitol Hill are starting work on another stimulus bill. This one is expected to top $1 trillion and include huge spending on infrastructure projects including 5G. Go here for the top All American 5G stocks to BUY NOW.

India Extends Lockdown for 3 Weeks

Prime Minister Modi announced that the nationwide lockdown would continue for an additional three weeks. The country’s 1.3 billion citizens will be required to stay home through May 3.

IMF: Worst Recession Since 1930s

The International Monetary Fund expects the global economy will drop by 3% in 2020. That would make this the worst economic downturn since the Great Depression.

The Coronavirus Numbers

Here are the numbers from Tuesday at 10 a.m. ET.

  • 1,946-781 Infected worldwide
  • 121,710 Deaths
  • 587,815 Infected in the U.S.
  • 23,654 Deaths in the U.S.

The outbreak will crush U.S. corporations and their earnings. Reports start next week.

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What’s Next

Stocks are rallying today on hopes that the U.S. economy will open soon. Major U.S. indices are posting gains of 2.5% – 3% in Tuesday morning trading.

The gains come despite terrible corporate earnings reports.

  • JP Morgan (NYSE: JPM) reports that profits plunged 70%. And the bank is preparing for loan defaults by setting aside $6.8 billion.
  • Wells Fargo (NYSE: WFC) says that its profits fell 89%. Meanwhile, revenues dropped 18%. The bank set aside over $3.8 billion to cover potential loan losses.
  • Johnson & Johnson (NYSE: JNJ) saw sales increase 3.3%. The company increased its dividend by 6.3%. And it also signed a $1 billion agreement with the government to produce a vaccine.

It’s almost impossible to predict earnings. And it’s even harder to know where stock prices will go after the results are released.

Smart traders won’t try to predict earnings season results.

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Yours in Health & Wealth,

Ian Wyatt

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