For the first time in three days, the Dow and S&P 500 closed lower as investors weighed the prospects of reopening the economy as job losses grew across the country.
A grim U.S. payrolls report showed private payrolls dropped by 20.2 million in April - the worst job loss in the history of the ADP report.
At the same time, 30 U.S. states have already partially reopened their economies or are planning on doing a partial reopening soon.
Here's how our experts - D.R. Barton, Jr., and Shah Gilani - see things playing out in the economy moving forward.
They even provided some of the top stocks to buy and sell today...
If you have to be long stocks today, D.R. thinks investors would be wise to keep their money in tech stocks.
Activision Blizzard Inc. (NASDAQ: ATVI) is still one of his favorite bets to make since more people are staying home and playing video games.
D.R. will be closely watching the earnings reports from PayPal Holdings Inc. (NASDAQ: PYPL) and Square Inc. (NASDAQ: SQ) tomorrow.
D.R. is bearish on the following stocks:
Shake Shack Inc. (NYSE: SHAK) - the company suffered reputation damage after news came out that it was trying to collect stimulus money meant for small businesses from the government.
Hyatt Hotels Corp. (NYSE: H) - occupancy is down considerably, and D.R. doesn't see people traveling and staying in hotels anytime soon.
Wynn Resorts Ltd. (NASDAQ: WYNN) - as a nonessential business, this stock is not likely to see revenue return to pre-COVID levels for a long time.
To identify the best stocks to buy and sell during the pandemic, D.R. is using a brand-new proprietary tool he just developed.
It's called the Dark Edge system, and you can learn more about it here.
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