China's coronavirus recovery is 'a promising sign' the US could bounce back just as quickly, says market analyst. (via ETFEdgeCNBC) Sponsored by InvescoUS.
The government's "stay-at-home" orders appear to be working well enough that U.S. businesses could be back up and running sooner than anticipated, Nick Colas, co-founder of DataTrek Research, told CNBC's"The bottom line is we're seeing very good compliance in the U.S. with work-at-home, stay-at-home requests by the federal and local governments," he said.
"The weekend traffic was basically zero," he said. "So, in New York, really the epicenter, we're seeing excellent compliance. People aren't moving around. And that's broadly true across the U.S." "The interesting thing is that as they've started to bring the economy back up to life, the weekday traffic is getting back to normal. The weekend traffic, which is consumer traffic, discretionary traffic, is still at quite low levels," he said. "So, they're doing a good job of bringing the economy back up, but consumer confidence just isn't there yet."
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