Worse than expected GDP, stocks rally
Just to put a capper on yesterday’s discussion about how you can’t invest in GDP, today offers a textbook example of this. The Q1 number came out, which includes the March shutdown, and it was actually worse than expected. Stocks are rallying anyway. Here’s Peter Boockvar: GDP in Q1 contracted by 4.8% q/o/q annualized as while the US economy really only shut down in earnest in the last 2 weeks of March, ...
source https://thereformedbroker.com/2020/04/29/worse-than-expected-gdp-stocks-rally/
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source https://thereformedbroker.com/2020/04/29/worse-than-expected-gdp-stocks-rally/
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