The markets had been in an intense slump for weeks now, and investors were starting to lose their nerve. It seemed as if no news was good news, until fortunately, things finally started to turn the corner and the markets have entered an upswing.
This change in tide was welcomed with great enthusiasm as investors had begun to feel fatigued from continually hearing so much miserable news. Traders, analysts and news outlets all clamored to find some glimmer of hope and share it with the world. The phrase ‘tell us something good’ had started to make its way into the market vernacular, as the markets begged for some long-awaited good news.
The past few weeks have brought a number of welcome stories of resilience and improvement. Retailers, who had been battering under stay-at-home orders, started to see sales pick up as people re-engaged with the idea of online shopping. Oil prices, which had been severely depressed since the fall, rose as production cuts helped balance the markets. Even some of the nations worst affected by the virus began to see a decrease in cases and a return to some semblance of normalcy.
It is not yet time to celebrate, as the markets continue to be volatile and unpredictable. But, it is certainly worth noting the stark contrast between today’s news and several weeks ago. Those desperate for good news can now confidently point to a few positive stories, and can be hoping for more in the future. The market’s long awaited plea for good news appears to have been answered, at least to a certain extent.
For now, we can move forward with a bit more optimism. After all, as the age-old saying goes, hope springs eternal.
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