Expect market hope to fade with tough reality China’s GDP numbers released overnight were dismal to say the least with a 6% contraction. And who knows how bad the real numbers were as the commies make up everything to make their economy look better.
The global stock markets are a bit euphoric on hope but tougher realities may squash that soon enough. GDP numbers for Q1 for countries that don’t straight out lie will be much worse. And GDP for Q2 in the West will likely fall around 30%. The NASDAQ 100 has no business being positive YTD. Other indexes shouldn’t be sporting just small losses YTD.
All of this continues to be very negative for energy. VET is extremely vulnerable in this environment. JMHO. GLTA.
https://www.zerohedge.com/economics/chinese-gdp