COVID-19 UPDATE. NY state cases keep dropping (-56% from the peak 16 days ago). 7 states on track to open in 2 weeks (20% of US GDP). Array ( [cookie] => 596a25-805399-724db3-06fc84-1cfaa6 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 208285 [user_id] => [reason] => [method] => ) 1 and can accesss
COVID-19 remains a global crisis and we realize that many people need to keep up with COVID-19 developments, particularly since we are moving into the more critical stage ("restart economy"), so feel free to share our commentary to anyone who has interest.
If we ever needed a reminder for the extent of the abrupt decline in global economic activity, it is the fact that WTI oil futures saw a negative price today. Think about that. Holders of WTI contracts were pricing in a negative value, because nobody wants to take physical delivery. Of course, oil is not negatively priced in totality as Brent crude is still ~$25/barrel and WTI June oil is $20-ish.
But oil is a residual issue of the broader global "stay at home" and this situation will not change until Western nations and US states begin opening up. And they cannot open up until each jurisdiction feels they have a handle on the healthcare crisis (wave 1) and outlined plans to safely re-start.
In this note, we highlight the 7 US states announcing plans to open the economy in the next 2 weeks, representing 20% of US GDP. And we look at the 3 nations in Europe announcing plans to re-open, including the largest nation, Germany.
POINT #1: NY state case count plunging, latest is 4,726 down -56% from 4/4/2020 peak of 10,841
NY state remains the front end of the COVID-19 crisis in the US, and because ~33% of all cases originate from NY state, seeing improvements in this state is really the leading indicator for the rest of the country. The trend of falling net new cases continues. The daily reported new cases was 4,726, down 56% from the 4/4/2020 peak of 10,841.
- NY state is clearly on the other side of the apex. Governor Cuomo reiterated the "stay at home" orders remain in effect until mid-May.
- But at this rate, NY state could easily meet the gating criteria before the end of the month for a Phase I opening (per White House).
As discussed in the next section, 6 states have already announced plans to phased openings of their economy.


Become a Member To Access FS Insight Research
FS Insight gives individual investors access to Tom Lee's research, previously only available to banks and hedge funds.
|
|||
Join Now |
|
|||
Join Now |
What's included in your FSI Membership?

Thomas J. Lee
Head of Research
Type | Publication | Mon | Tue | Wed | Thu | Fri | Monthly | |
---|---|---|---|---|---|---|---|---|
Reports |
First Word The best market research out there -- on a near-daily basis. |
![]() |
![]() |
![]() |
||||
Intraday Alerts These are released periodically after crucial market developments. |
Real-Time | |||||||
Weekly Roadmap Weekly summary of market events and updates on our key theses. |
![]() |
|||||||
Webinars & Videos |
Macro Minute Video Daily video commentary on market conditions & key events. |
![]() |
![]() |
![]() |
![]() |
|||
Outlook Webinars We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights! |
Yearly | |||||||
Granny Shots Webinars |
![]() |
|||||||
CEO Interview Webinars | Quarterly | |||||||
Appearances Archive | Real-Time | |||||||
Allocation Tools |
"Super Granny" Shots Stock List Granny Shots we expect to tactically outperform and underperform. |
![]() |
||||||
Granny Shots Stock List Thematic investment stock picks that aim to outperform the S&P 500. |
![]() |
|||||||
Sector Allocation A sector allocation strategy that is designed to outperform the S&P 500 while taking minimal risk. |
![]() |
|||||||
Market Alerts |
⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads. |
![]() |
![]() |
![]() |
![]() |
![]() |
Real-Time |

Mark L. Newton
Head of Technical Strategy
Type | Publication | Mon | Tue | Wed | Thu | Fri | Monthly | |
---|---|---|---|---|---|---|---|---|
Reports |
Daily Technical Strategy Daily commentary on market trends and short term opportunities. |
![]() |
![]() |
![]() |
![]() |
![]() |
||
Weekly Roadmap Weekly summary of market events and updates on our key theses. |
![]() |
|||||||
Webinars & Videos |
Daily Technical Strategy Daily commentary on market trends and short term opportunities. |
![]() |
![]() |
![]() |
![]() |
![]() |
||
Live Technical Analysis |
![]() |
|||||||
Outlook Webinars We host over 12 LIVE webinars per year with our research team and high-profile special guests. Incredible value and market insights! |
Yearly | |||||||
Appearances Archive | Real-Time | |||||||
Allocation Tools |
Newton's Upticks Stock List Technically derived, intermediate-term picks of attractive risk/reward opportunities from the S&P 500. |
![]() |
||||||
Market Alerts |
⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads. |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |

L. Thomas Block
Washington Policy Strategy
Type | Publication | Mon | Tue | Wed | Thu | Fri | Monthly | |
---|---|---|---|---|---|---|---|---|
Reports |
US Policy Weekly update on developments in Washington DC and how they may impact Wall Street. |
![]() |
![]() |
|||||
Weekly Roadmap Weekly summary of market events and updates on our key theses. |
![]() |
|||||||
Market Alerts |
⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads. |
![]() |
![]() |
![]() |
![]() |
![]() |
Real-Time |


Sean Farrell & Crypto Team
Type | Publication | Mon | Tue | Wed | Thu | Fri | Monthly | |
---|---|---|---|---|---|---|---|---|
Reports |
Market Update Stay on top of the crypto markets with macro commentary, technical analysis, and the most relevant news. |
![]() |
![]() |
![]() |
![]() |
![]() |
||
Weekly Strategy Weekly summary of market events and updates on our key theses. |
![]() |
|||||||
Funding Fridays Are you looking for investment opportunities in the crypto space? We explore early-stage crypto opportunities in this note about where the smart money is being invested! |
![]() |
|||||||
Crypto Concepts We periodically provide in-depth research on the leading protocols, companies, and funds shaping the crypto ecosystem. |
![]() |
|||||||
Liquid Ventures A recurring research note focused on delivering unique insights into high-risk investment opportunities within the crypto ecosystem, primarily centered on early-stage or small-cap tokens. |
![]() |
|||||||
Deep Research We periodically provide in-depth research on the leading protocols, companies, and funds shaping the crypto ecosystem. |
Quarterly | |||||||
Weekly Roadmap Weekly summary of market events and updates on our key theses. |
![]() |
|||||||
Webinars & Videos |
Outlook Webinars Ongoing webinars exploring crypto opportunities, in depth research, and exclusive research offerings from our team of analysts and leading cryptocurrency firms. |
Yearly | ||||||
Crypto Comments |
Daily Technical Strategy From Bitcoin, Ethereum and Solana to other coins, our Head of Technical Strategy highlights important price movement to help give you an edge. |
![]() |
||||||
Allocation Tools |
Crypto Core Strategy A powerful tool designed to help crypto investors build a crypto portfolio that outperforms the industry’s king – bitcoin – regardless of market conditions. |
![]() |
||||||
Market Alerts |
⚡️FlashInsights Real-time market commentary about macro and crypto events from our research heads. |
![]() |
![]() |
![]() |
![]() |
![]() |
Real-Time |

FS Insight Research Team
Type | Publication | Mon | Tue | Wed | Thu | Fri | Monthly | |
---|---|---|---|---|---|---|---|---|
Reports | First to Market |
![]() |
![]() |
![]() |
![]() |
![]() |
||
*Earnings Daily This note provides investors with a myriad of useful metrics to measure the progress of earnings season |
![]() |
![]() |
![]() |
![]() |
![]() |
|||
Signal From Noise Highlights timely market themes and sectors with corresponding stocks, cutting through the day-to-day market “noise” for a distinct perspective. |
![]() |
|||||||
Community Questions We gather your inquiries and answer them in the most scalable way. Hear directly from our research principals! |
![]() |
|||||||
FS Insight Academy Our main goal is to make you a better investor! This series will guide you through key financial concepts and topics in an understandable way. |
![]() |
|||||||
Webinars & Videos |
Free Macro Webinars Live webinars and Q&A with our research team and high-profile industry leaders. |
Quarterly | ||||||
Free Crypto Webinars Live webinars and Q&A with our research team and high-profile industry leaders. |
Quarterly |
*Daily reporting during each quarterly earnings season.