Early Tuesday morning, Trump tweeted: "The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!"
I guess if you are very rich and have a ton of available cash burning a hole in your pocket, the stock market might look very appealing right now. Buy low, right?
For the rest of us ... not so much.
I think way too much has been made about the stock market (as of now), it's a mistake to focus on it with a daily lens.
The market is still higher at today's close than all but 21 days of 2019 (based on S&P 500 adj close), it's at its lowest point since, gasp, November 18th. I wish the market could continue to set record highs every single day, but there's always going to be ebbs and flows.
If at any time, pre-November 2019, I said the market would be where it is right now as of 2/25/20, most would gladly sign up for that and say it would be a strong stock market. Go back a few months further, many probably would doubt the market would be as high as it is now.
Now I don't at all think this is what Trump was alluding to when he made that statement, but overall the market is still doing great under him.
For all of us poor people though, if you didn't think November was a buying opportunity, now is not really much different (unless you've luckily come into a ton of cash the last couple of months).
All that to say, not making a prediction of where we're going. Today could be the new bottom, or we might dream of getting back to the high levels of 2/25/20 in a couple of days/weeks/months. Time will tell, will be interesting to see how this all plays out.