This is one of the fastest media turnarounds I've seen in a recession.
That's probably because the stock market has gained around 40% in the past 5 months. I'm not sure about the other recessions, but I'd wager that this bounce in the equities market is pretty unprecedented.
Mind you, I'm not defending the media response. I'm conjecturing as to it's cause.
The bounce in early 1930 was from a low of 195 to a high of 267, then stabilizing at 240 before falling off a cliff and hitting 42 in 1932. That was a bounce of around 35%.
The bounce from Sept 11, 2001 to early 2002 was from 8000 to 10500, about 25%, before dropping back down to 7500 6 months later.
The Dow recovered from 800 to 1000 in 1980, a gain of 25%, before dropping back to 800 in 1982.
The Dow recovered from 600 in January 1975 to 1000 in January 1976, a gain of 66%, before falling back down to 750 by 1978 (and still being there in 1982).
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This is one of the fastest media turnarounds I've seen in a recession.
That's probably because the stock market has gained around 40% in the past 5 months. I'm not sure about the other recessions, but I'd wager that this bounce in the equities market is pretty unprecedented.
Mind you, I'm not defending the media response. I'm conjecturing as to it's cause.
The bounce in early 1930 was from a low of 195 to a high of 267, then stabilizing at 240 before falling off a cliff and hitting 42 in 1932. That was a bounce of around 35%.
The bounce from Sept 11, 2001 to early 2002 was from 8000 to 10500, about 25%, before dropping back down to 7500 6 months later.
The Dow recovered from 800 to 1000 in 1980, a gain of 25%, before dropping back to 800 in 1982.
The Dow recovered from 600 in January 1975 to 1000 in January 1976, a gain of 66%, before falling back down to 750 by 1978 (and still being there in 1982).