Soothed

Published on 02-06-2020 13:11:00

Better economics – both signs and stimuli – are papering over market cracks to sooth nerves today.

Sunak and Johnson are advertising a relaunch of policy across the UK economy. Germany is brokering a deal for a second stimulus and, with more of the same expected in the US, S&P 500 futures recovered to early-March levels. All this despite the ongoing chaos on US streets.

UK manufacturing shows signs of recovery and in China signs are even stronger. Travel and leisure stocks jumped 1.2% as quarantine seems set to end before it begins. Digital sales push Card Factory shares up 9.8%, and Boku expands to reach 51 countries.

But spare a thought for Congo as it sees a fresh Ebola outbreak.

And software isn’t a happy sector either. Facebook employees are incensed with Zuckerberg, while TikTok apologies after censoring black users as the platform gets political.

Fortunately, there’s soothing news in hardware – graphene is injecting new life into Moore’s Law. Great news for AI, but not so much for news curators (ahem).

Yet this isn’t the thought that will stay with us the longest. At Edison, we spend hundreds of thousands of hours helping improve the liquidity of our clients’ stock. We’d never considered that our success might be being hampered by City traders working too hard.

Until tomorrow,
The Stream Team

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