In addition to all the amazing stories of individual Americans making sacrifices and going the extra mile, and the heroic efforts of healthcare workers, and even the notion that a cashier at a pet store is an essential worker, I have been happy with the efforts of the private sector.  Business are stepping up, but will it be enough? 

I’m interviewing Vice President Pence on my show Making Money on Fox Business at 2PM and will put to him that the Trump administration and big business must prove free market capitalism can meet the needs of everyone during this crisis.

Please Tune In:

Making Money

Fox Business 2 PM ET

The market stumbled out the gate.  Investors reacted to sobering news on potential coronavirus deaths not so much by selling, but by staying on the sidelines.  While the coronavirus task force models for a potential peak in two weeks, Wall Street is modeling the lasting impact of a shut-down economy and a society that is sure to change in many ways.

And for the most part, its largely a guessing game, which begins with tomorrow’s initial jobless claims.

To be sure, there is a school of thought that the market is already oversold. It is perhaps underestimating the resolve of the America public and an economy that was a juggernaut before this terrible pandemic reared its ugly head.

The biggest losers in this session are the sectors that investors normally seek shelter in during difficult times, but instead of finding safety in Utilities and Real Estate names, the new safe havens include big box retailers, supermarkets, soup makers and companies whose products keep our homes clean from germs.

As last week’s resolve becomes a distant memory, there will be more calls for major indices to retest recent low points.