E Market Briefing For Monday, April 19

Expiration is behind us and earnings loom - but is that really probing the heart of market concerns? Especially since everyone expects good profits and what might throw them for a loop would be something to the contrary of that.

I'm focused beyond good corporate results in the wake of a stellar S&P clearly anticipating good reports. Rather I'm thinking not just currency (and not crypto either) is at the heart of the next focus; but geopolitics, trade tensions, and for that matter the 'truth' about prospects of opening society fully during Covid.

Most states are open while the majority see an increase in cases and while it is reported by media, they tend to soft-pedal the implications. This time WHO actually has it right, especially on the worldwide scene; and that's where trade and other economic issues might contribute concerns as well. Notice how few countries Americans can fly to this Summer so far; and a clue as to how tough it really is becomes more evident (Mexico is the number 1 destination now as Delta, American and even SouthWest have added flights to beach resorts).

As to 'why' fewer will listen to Dr. Fauci (he's right and wrong at times), we're an impatient society; and Government can only dam up the economy for so long before people first rebel or are exasperated, and then start getting creative (of course a more productive approach). With Covid variants and hospitalizations rising among younger people, along with lackluster performance of vaccines (a huge issue) ....what else is the government going to do? We need testing in a more accurate (tracking) way; and we need therapeutics. Merck, Lilly and of course Sorrento, are all working in various aspects toward this need. While frustrating to see round-robin SRNE moves; it likely basing for another rise, at the same time it needs an approved EUA (or another approval) to really jump.

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