JUNE 09, 2020

Updated: Jun 10

-Trump campaign rallies to start up again in next two weeks

US President Donald Trump plans to start holding campaign rallies again in the next two weeks, a Trump campaign official said on Monday, ending a three-month hiatus brought on by the coronavirus pandemic.

-The Jobs Numbers Weren’t Fraudulent

Commentators and economists alike were shocked last Friday when the government reported the U.S. added 2.5 million jobs in May, and that the unemployment rate dropped to 13.3 percent from 14.7 percent a month earlier. Forecasters had expected the economy to shed 7.5 million jobs in May, not to add millions to payrolls. Instead of trying to figure out what the numbers meant, some of the president’s critics were quick to challenge the numbers themselves. Paul Krugman, for example,wrote on Twitter about 20 minutes after the numbers were released that “you can’t completely discount the possibility that” the president’s political team had “gotten to” the Bureau of Labor Statistics, the government agency that produces the monthly jobs report. To his credit, Krugman quickly apologized.

-Florida lawyer who dressed as coronavirus 'Grim Reaper' seen at crowded George Floyd protests

The Florida attorney who dressed as the Grim Reaper in an attempt to shame beach goers into going home amid the corona virus pandemic is championing a new cause -- and seemingly defying his own advice. In recent days, Daniel Uhlfelder has posted several photographs and videos to his Twitter account of himself attending crowded protests held in response to the death of George Floyd. "Defuniak springs, Florida. Huge crowd. Stay hopeful and stay strong," he posted Sunday from a rally in the Florida panhandle.

-Michigan Supreme Court tosses Owosso barber's order to close

The Michigan Supreme Court on Friday ruled overturned a lower court’s order that directed 77-year-old Owosso barber Karl Manke to close his shop. The top court said the Court of Appeals erred in its 2-1 decision.

-Trump: Economic Recovery Better Than V-shaped, ‘This Is a Rocket Ship’

“We’re opening and we’re opening with a bang, and we’ve been talking about the V,” Trump said, referring to a V-shaped economic recovery, meaning that after the economy suffers a sharp period of economic decline, it rebounds just as sharply. The president said urged “lockdown governors” to reopen their economies. “As good as these numbers are, the best numbers are yet to come because so many areas are still closed or very partially closed,” he said.

Data released by the Labor Department raised hopes that the U.S. economy has started to recover from the pandemic.

-S&P 500 erases its loss for the year as stocks rally on reopening optimism

The stock market rallied once again on Monday, pushing the S&P 500 into the green for the year as the benchmark completed its wild round trip amid the coronavirus pandemic. Investors are growing more and more optimistic about a speedy economic recovery as states continue to reopen.  Stocks finished the day at their session highs with the S&P 500 jumping 1.2%, or 38.46 points, to 3,232.39. The equity benchmark turned positive for the year in the final moments of Monday and has now bounced more than 47% off its March low. At one point this year, the S&P 500 was down more than 30%. It’s now positive for 2020 by 0.05%. “What is clearly happening is the excitement of reopening is allowing a lot of these companies that have been casualties of Covid to come back and come back in force, ” said Stanley Druckenmiller, chairman and CEO of the Duquesne Family Office, on CNBC’s “Squawk Box.”

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