VWW-II

(1) WW-I was followed by VWW-I. (2) Far fewer casualties so far during VWW-II than VWW-I, but the economic toll from lockdowns is mounting rapidly now. (3) If the stock market is the scorekeeper, then there will be peace in our time from the virus. (4) 2900 or so might be a good place for the S&P 500 to consolidate for a while. (5) Opening season could be full of hits and misses. (6) Brief update on COVID-19 tests, cures, and vaccines. (7) Q2 real GDP tracking down 34%. (8) Head count: 46 million distressed workers during April. (9) Government unemployment benefits are generous while they last, beating many workers’ usual pay.