| Stocks Up Again As The Reopening Continues  Image: Shutterstock Stocks closed up again yesterday. While they finished off their highs, it was the second day in a row of gains.
The reopening of the country remains the biggest focus right now. Granted, it's only 23 states opening their economies in some shape or form this week (making up roughly 35% of the economy), but it's a start. And traders will be looking at how this goes to gauge how the reopening of other states could go.
Traders are also looking at earnings. And they haven't been that bad, all things considered.
But the main event this week will probably be the Employment Situation report on Friday. Although, I don't think it's that important. We all know it's going to be ugly with an expected -21,250,000 unemployed, and a 16.3% unemployment rate. But that's all rearview mirror stuff.
The market is forward looking. When the market was down -35% in early March, it was likely pricing in that kind of carnage. And probably a lot more.
But the outbreak, as tragic as it's been, has been far less severe than the early dire predictions. And getting on the road to recovery has been much faster.
If any of those frightening predictions were to have come true, we likely would have been on lockdown for several more months. And then the unemployment report would matter, because it would only be the tip of the iceberg.
But we have already turned the corner. The worst is behind us. And the U.S. is on the path to recovery.
Those numbers will be recorded for posterity. But they provide very little meaning for the present or the future.
Keep your eyes on the reopening, and what the economic reports look like once those stats are finally included.
In the meantime, it's great to see people and businesses getting back to work and getting their lives back.
And that's why the market has been rallying. And why there's likely a lot more upside to go.
See you tomorrow, 
Kevin Matras Executive Vice President, Zacks Investment Research | | Sponsor Breaking: Tesla is dead. Elon Musk is ruined.
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