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Teflon rally. Stocks rallied on Friday capping off a positive week on optimism, yes optimism, that things will eventually get better or perhaps, things can’t get much worse for the economy. The rally in stocks came despite a record number of job losses in April.

What recession? Stocks traded up yesterday on encouraging news on virus vaccine front and the possibility that tensions may be easing between the US and China. Traders shrugged off weekly employment figures which showed that 3.2 million Americans filed first time unemployment claims last week alone.

Trade war 2.0? Stocks could not hold onto gains yesterday, selling off late in the session as traders could not ignore grim employment numbers. The war of words between the US and China are heating up again, and now it’s going beyond its handling of the Coronavirus outbreak.

Plugging leaks. Stocks rallied yesterday on continued optimism about portions of the country coming back on line. An early-session rally was muted by a series of weak economic data and a Fed official warning of a slow but sure recovery, both contributing to stocks closing off their session highs.

Viva! Stocks staged a late day rally after weak economic data and mounting virus deaths gave way to an energy-driven rally as US crude producers are finally getting it. A new war of words is brewing between the US and China and traders are watching closely… nervously.

Use the force. Stocks dropped on Friday as weak earnings soured investor enthusiasm. Manufacturing continues to struggle and the war of words between the US and China is heating up again.