Dan Celia: Market Decline Is ‘Touch of Reality’ as Businesses Await Coronavirus Vaccine
July 8, 2020
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia said today that the sharp downward turn in the markets reflects growing uncertainty caused by the coronavirus, and that a shot of stimulus would boost confidence until a vaccine is ready.
“Stocks gave back some sharp gains from Monday and the tech rally fizzled out,” Celia said. “We saw some of the big names like Netflix, Microsoft, Alphabet, Apple, Facebook, and so on having a touch of reality. One Federal Reserve leader speculated that the economy is losing some of its steam and optimism we have seen over the last couple of weeks. This is partly due to the coronavirus, but it is also indicative of the economy needing a big shot of, believe it or not, more stimulus, both from the Federal Reserve and the government working together.
But you can only stimulate businesses so much. At some point, they must desire to get back to work. The only thing that is going to change that dynamic is the lowering of some of the uncertainty about where all of this is going. We might not see that until we have a solid, readily available treatment or a vaccine. Whether it cures anything or not is another story, but it would begin to bring some light and confidence back to both corporate America and its consumers.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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