We turned off the economy, a booming economy, because of the pandemic. It has taken a lot of damage because of that. Is the worst of that damage over?
There are many people saying that the worst is indeed, over. Jake Novak of CNBC says in many sectors, business is picking back up, especially when it comes to air travel and real estate.
"We are seeing people buying homes again. They are desperate to buy homes. There are not enough homes to buy. We see businesses opening up," Novak stated.
Novak says that's why the stock market has been moving up. Novak says that's because investors think the shutdown is already in the rear view mirror.
"They focus more on what's coming up next. This is why we are seeing rallies right now. As bad as it's been they can't deal with the past as much as they look towards the future. That's what investing is all about," Novak explained.
But if companies are slow to re-hire the millions that got laid off, the Wall Street recovery will be quicker than the Main Street recovery.