Stocks are opening sharply lower on Wall Street as investors turn jittery once again in the face of rising numbers of coronavirus infections in many U.S. states and countries. Stocks have been rallying over the past two months at a rate that many skeptics said was unsustainable and that didn’t reflect the dire condition of the economy. The Federal Reserve warned a day earlier that the road to recovery would be long. European and Asian markets also fell

An additional 1.542 million Americans filed for unemployment benefits in the week ending June 6. The prior week’s figure was revised higher to 1.897 million from the previously reported 1.88 million. Over the past 3 months, more than 44 million Americans have filed for unemployment insurance.

In the U.S., Texas and Florida were among the states reporting jumps in the number of coronavirus cases after precautions were relaxed last month. The total number of U.S. cases has surpassed 2 million. “After all, a secondary outbreak is nothing to sneeze at as traders remain in a state of risk limbo watching risk assets for signs of continuation or stall,” Innes said in a commentary. Nick Note: The fed is radially running out of bullets. MAYBE they can do another 5 trillion. If the economy does not pick up and soon it will take 100 trillion to keep this ship afloat… A impossible number! Cuidado Amigo!