RECOVERY TRACKER TIMELINE – APRIL, 2020

After a disastrous March, filled with nothing but bad news – medically and economically – April saw the first “green shoots” of promising possibilities as to reopening the U.S. economy.

 

  • 04/03/20 – Paycheck protection program (PPP), $349b of the $2t Coronavirus rescue package, “CARES” Act, begins
  • 04/05/20 (Weekend) – NY deaths levels off for 3 days; Sunday marked the first drop.  New hospitalizations drop in NY as well
  • 04/06/20 (Monday) – Japan pledges stimulus  package equal to 20% of output, just under $1T, 2X their total ’09 stimulus
  • 04/06/20 – Morgan Stanley:  “The worst is behind us with the most attractive risk-reward in years, it’s time to buy stocks”
  • 04/06/20 – Wall Street stages explosive rally, powering Dow up nearly 1,600 points
  • 04/08/20 (Wednesday) – PPP is running out of money so Treasury asked for another $250b
  • 04/08/20 – President Trump is preparing plans to re-open economy which depends on testing far more people for Coronavirus
  • 04/08/20 – Fauci suggested that children should be able to return to schools in the fall
  • 04/08/20 – China is reopening city of Wuhan after 76-day lockdown
  • 04/08/20 – Fauci “If tests show you recovered and you feel well, it’s back to normal and “hug the heck out of your grandmother”
  • 04/09/20 (Thursday) – FED will purchase up to $500B of short-term notes directly from states, counties and cities
  • 04/09/20 – FED announces $2.3T to support the economy. $600B in “main street lending fund” in support of businesses
  • 04/09/20 – Bill Gates on Squawk Box:  “I do think school will be able to resume in the fall”
  • 04/10-12/20 – (Holiday Weekend) – NIH’s Anthony Fauci said that portions of the country could go back to work starting in May
  • 04/10-12/20 – Surgeon General says most of the country would not be ready to open by May 1st but portions potentially could
  • 04/10-12/20 – Trump: assembling a new panel, Opening Our Country Council, to make recommendations to restart economy
  • 04/14/20 – Jurisdictions easing lockdowns: Argentina, Austria, Czech Republic, Italy, parts of Russia, Spain, and Zimbabwe
  • 04/15/20 (Wednesday) – Trump: potentially 20 states able to open before CDC’s voluntary social distancing  expire on May 1st
  • 04/15/20 – Former FDA Commissioner Dr. Scott Gottlieb: Places with “natural social destining” likely first to open in early May
  • 04/15/20 – German Chancellor Angela Merkel says will start reopening economy on Monday, April 20
  • 04/15/20 – 10 of 12 major U.S. airlines reached agreement with Treasury on federal grants keep airline workers on the job
  • 04/16/20 – Governors in 7 U.S. Midwest states to work in close coordination to reopen the economy in their regions
  • 04/16/20 – Remdesivir preliminary results from Chicago study are positive with rapid recoveries, patients discharged in days
  • 04/17/20 (Friday) – Trump gives guidelines to governors to relax mitigation measures to open up portions of the economy
  • 04/17/20 – Political pressure is building on governors to relax measures with protests rising in states across the country
  • 04/18-19/20 (Weekend) – More than 97% of the US population is currently under a stay-at-home or shelter-in-place order
  • 04/18-19/20 – President Trump has indicated many states can reopen by May 1
  • 04/18-19/20 – Governors forming pacts and plans with a focus on expanding testing & tracking contacts of the infected
  • 04/21/20 (Tuesday) – Georgia, Tennessee, and South Carolina begin easing restrictions and opening some businesses
  • 04/24/20 – President Donald Trump signed a $484 billion spending package that includes more money for small businesses
  • 04/27/20 (Monday) – MONTAG posts blog A GLOBAL CRISIS ‘UNLIKE ANY OTHER’ by Tom Frisbie, CFA
  • 04/27/20 – AK, GA, OK and SC have begun to reopen businesses
  • 04/27/20 – AL, AZ, CO, FL, HI, ID, LA and MA will lift stay-at-home orders by Thursday, April 30
  • 04/28/20 (Tuesday) – Texas, Ohio, and other states took steps to ease lockdown orders and reopen their battered economies
  • 04/28/20 – WSJ headline, page A1:  “U.S. Car Makers Pencil In May 18 As Manufacturing Restart Date”
  • 04/28/20 – President Trump announces plan to test 2% of population for coronavirus every month
  • 04/28/20 – Central bank expands its $500 billion loan program that providing short-term credit to state and local governments
  • 04/29/20 (Wednesday) – Simon Property is planning to reopen 49 malls in states that are loosening restrictions
  • 04/29/20 – WSJ: The race for a vaccine  is moving faster than scientists and drugmakers expected
  • 04/30/20 (Thursday) – Macy’s announced plans to reopen 68 stores on Monday in states starting to open up
  • 04/30/20 – NASCAR took the lead among major American sports in quest to reopen from shutdowns, to resume racing May 17
  • 04/30/20 – FL is the latest state to detail plans to reopen its economy

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