June jobs report beats expectations—Five experts on what it means for the economic recovery (via TradingNation)
Here are five experts on what the jobs report says about the road to recovery.
"Normally in the months before a presidential election, both parties are trying to create a series of show votes where they say, "We were for this, and the other guys are against it." And they don't really want to reach compromises. And so the philosophy of the CARES Act was we don't have to decide who should get relief and rescue money, everybody gets money.
"The market is pricing in more of a V-shape recovery. It's certainly pricing in a V-shape recovery in terms of earnings. The consensus is at about $163 [for S&P 500 earnings] for 2021, and we're trading at 19 times that at current levels.
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