The markets are attempting to claw back some of Wall Street's losses from late Tuesday, as investors weigh further re-openings in major economies around the world against reports that cast doubt on a near-term coronavirus vaccine.
With infection rates in Germany falling steadily, and countries around the world easing lockdown restrictions, slow but steady indications of what is likely to be a long economic recovery are starting to find traction. The the U.S., all 50 states have eased stay-at-home orders following Connecticut's re-opening, which begins today.
Connecticut is the first state in the New York tristate area to reopen.
However, Wall Street has been betting the U.S. economy would begin to recover from the coronavirus pandemic as the country gradually begins reopening. But with lockdowns being lifted and stores again welcoming customers, the fear is that, without a vaccine, the U.S. could see a resurgence in infections and would be forced to shut down again.
President Donald Trump, who has been pushing hard to get the economy restarted, said he expects “a really great third quarter” as state lockdowns are lifted. However, Federal Reserve Chairman Jerome Powell said this week that a recovery may have to wait until the end of next year.
Jim Cramer said that Facebook has caught his attention today. Cramer said Facebook is a metaphor for the markets now. Watch the video above to hear why Cramer says the stock is a "nuclear winner."
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