Guess who’s back, back again?

[The beef 675] [I'm an image] “Did somebody say Dow 25k?” - Jeff Hey there carnivores, Markets were up big on Wednesday. And today we’re talking about two other big reasons why. Keep raging, Jeff & Jason [Image] [I'm an image] Back from the dead US indices all [climbed]( over 2% for the first time since *checks calendar, throws calendar out the window because time means nothing anymore* earlier this month. The Dow rallied 2.2%, after Alphabet reported higher than expected earnings, despite COVID’s impact on ad revenue. Because apparently the stock market plays by the Thunderdome's rules. The S&P rose 2.7%, while the Nasdaq climbed 3.6%. But why? A couple of reasons. The first of which rhymes with Pay Howell. During the Fed’s Zoom call on Wednesday, Chairman Jay Powell [called]( for Congress and the White House to spend more money to protect workers, businesses, and households. So, everybody? What’s more? He said the Fed will keep interest rates at or near zero for as long as it takes to get us through the looming recession. Powell also said the Fed would use “its full range of tools to support the U.S. economy in this challenging time.” Have some respect for yourself Jay, don’t give it up so easy... All the major US indices benefited from the benevolence of Saint Jerome, but the S&P, in particular, is on a heater that has it on pace for the index’s best month since 1974. Why? A little company called Gilead... The Gilead effect Editor's note: the big pharma company, not the totalitarian theocracy from ‘Handmaid’s Tale’. If the name sounds familiar, that’s because the pharma bros have sent investors through a rollercoaster of emotions over the past month. First, it announced it was testing a drug to potentially treat COVID-19, which unsurprisingly sent shares soaring. That is until WHO [accidentally revealed]( trial results proving the opposite, leading to its stock cratering. But what does WHO know really? Gilead [said]( on Wednesday that 50% of patients treated with Gilead’s remdesivir improved, and more than 50% were out of the hospital in under two weeks. On top of those results, Gilead also [got put on notice]( that the big swingin’ d*cks at the FDA, plan to approve remdesivir to treat patients that have come down with the ‘vid. It would mark the first anti-coronavirus drug that the FDA has passed on to human trial. *Chimps and rats at Gilead breathe a sigh of relief* Plus, the company said that a trial by the National Institute of Allergy and Infectious Diseases, led by none other than American heartthrob, Dr. Fauci, met the goals it set forth. So you can see why people might be getting excited. Cooler Commentary Despite all the good news, the economy is still less stable than Patrick Bateman listening to Huey Lewis and The News. Case in point: the US economy shrank at an alarming 4.8% annualized rate over the first quarter of the year... the biggest dip since 2008. Bad year. And according to analysts, it’s only going to get worse. In fact, they fear the good ol’ US of A is on pace for one of the worst recessions in more than 80 years. Still, investors seem to give literally zero f*cks (see: J-Poww’s money printer going brrr and a coron-antidote) That’s showbiz baby… [Image] The Best Money-Making Opportunities Aren’t In The Stock Market They’re In The Private Sector [Alternate text]( The Only Problem Is Most Investors Don’t Know Where To Find Them Join The Boardroom Live—TONIGHT at 8 PM ET As They Uncover Their Secrets To Successful Startup Investing [Claim Them Now]( [I'm an image] ☑️ That should be a penalty. The NFL is the latest organization to announce it [is furloughing corporate employees](. Hey, it could be worse, you could work for the XFL. Fair point, but the timing of this move is awfully ruthless. The League announcement comes less than a week after it completed the first ever virtual NFL Draft. Great job everybody, [now if you will kindly step into my office…]( Commissioner Roger Goodell noted, “the downturn has affected all of us, as well as our fans, our business partners, and our clubs.” In fact, he too is sacrificing his annual salary (prorated of course) while the league is shut down. Fun fact: he made $40M last year. ☑️ Grounded. Apparently, Boeing didn’t think the unemployment numbers were high enough. During its Q1 earnings call, the airplane maker announced it is cutting 10% of its workforce, which is approximately 16k people. The airplane maker has had a rough go at it. First the 737 Max debacle, now the 'rona. So it was no surprise when Boeing announced that it [burned through roughly $4.3B of cash]( and revenue fell 26% in Q1. Inexplicably, investors thought "hey, it could be worse" as its stock rose nearly 6% on the day. ☑️ Try again next year. After a rough end to 2019, GE is not off to a hot start after it reported poor earnings for Q1 of 2020. GE reported revenue of $20.524B, an [8% decrease year-over-year]( thanks to the hit it took from coronavirus. Revenue from its aviation business fell by 13%, as orders for plane parts declined 14%. On the plus side, its healthcare business grew by 7% thanks to products it supplies which help with the diagnosis and treatment of COVID-19. Things aren’t expected to get better any time soon, either. Q2 will be the first full with COVID-19 headwinds baked in and management is already bracing investors. You'll get 'em next year, sport! Shares of GE closed 3.2% lower on the day. ☑️ Silicon sadness. Juul and Lyft are making some "tough decisions." The e-cancer stick maker and inferior ride-hailing service will make a sh*t ton of employees redundant. Juul will [lay off]( roughly a third of its workforce, or 950 workers. The company indicated that this has nothing to do with COVID and a whole lot to do with poor business choices and questionable marketing tactics. Lyft will [bid adieu]( to roughly the same amount of employees which accounts for 17% of its headcount. This move is directly related to the current pandemic as the pink-mustache riders can't seem to conjure up enough business to keep underpaid drivers on the road. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 Neither Raging Bull nor RagingBull.com, LLC (publisher of Raging Bull) is registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. 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