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Weekly Macros - May 10th, 2020

  • Markets continue their pandemic-defying rally as brokerages confirm hundreds of thousands of new accounts have been opened amidst the shutdown. TD Ameritrade reported over 300,000 new brokerage accounts since early March, many with opening balances equal to the $1,200 stimulus check. With time on their hands and free commissions to boot, newbie investors are taking Wall St. to school on how to move markets.​​​​​​​

  • NMHC's Rent Payment tracker currently indicates that 80% of Apartment households paid rent as of May 6th, only a 1.5% decrease over May - 2019 numbers. A sign that despite the high levels of unemployment, renters who can pay are stepping up and doing so.​​​​​​​

  • On the economic calendar & reporting this week: Core Consumer Price Index (Tue. 8:30AM ET), Weekly Jobless Claims (Thurs. 8:30 AM ET) and April Retail Sales (Fri. 8:30 AM ET).

#Stocks #Unemployment #NMHC #Covid19 #Retail

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