Normally, when a company lays off workers, the market cheers, and the stock price goes up. Investors get to keep more of their money, and no longer have to pay out in expensive labor.
But this situation is quite different, in that the economy just came to a stop, for practically everyone. At some point, this has got to trickle up, and affect the larger corporations. People won’t fly, so airlines go bankrupt. Hotels go bankrupt. Travel Agencies go bankrupt. And on and on.
But of course, maybe Wall Street is expecting a bailout of the airlines, and other big businesses, so maybe that explains the optimism.
