Weirdly enough, and much to the surprise of BizBites we predicted that stocks would fall come Monday, and the trend was set to do so, but after a long day of trading and after an even longer week, markets seem to be fairly optimistic and positive. Why? Well it could be from a number of things. Obviously, some earnings are coming out soon- most notably the new verb on the street which is “Zoom Call”. Zoom Communications have been blasting through stock predictions and sales forecasts. The Work From Home initiative brought on by the pandemic, might have solidified Zoom as a major tele video service forever.
Stocks have gone up because of certain industries like manufacturing that have produced positive guidance as we move forward. But you gotta ask, how long? Look the US is in the midst of a nation-wide protests that have captivated the country and the world. This could lead to cities and states shutting down for a bit and enforced curfew will only fuel a fire that is killing consumer spending. With all that is going on, we here at Biz Bites are in shock and awe that the markets preformed so well today. We see it going back down, not to the levels of the worst days in the pandemic, but when the earnings for companies come out, once again there will be blood in the streets.
Look the future has got a bit dark recently. There is civil unrest, a pandemic we don’t understand, and a fear we have not recognized. There is plenty of room to grow, and more that we can do. Both in business world and in society. Recent protests have turned violent and that leads to the mob and the mob mentality. Destruction is bound to happen and people are bound to lose more jobs, more business, and more life. THAT is a tragedy. We have come to a head with problems, it is now time to rebuild, restore, and reignite the beauty we so despereatly crave. This isn’t about race, or politics, or even business really. It’s about healing and moving forward. Y’all, we got this. Let’s heal. Let’s do better.
Anyway, that’s my take on it. Until next time. -GS
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