Economic recovery
The global economy is starting to recover. Housing Starts in the U.S. has rebounded a little, but the 3 month average for this data series is still falling (3 month average always lags).
*With lower future housing supply, the interesting thing is that the coronavirus-driven recession is probably be a boon for U.S. real estate prices.
Housing Starts' 3 month average has plunged over the past quarter:
This is the largest 3 month plunge in the past 60+ years. Similar (but less extreme) historical cases could mark the end of a bear market/recession, but there was no guarantee of that:
For example, this happened at the end of the 1973-1974 bear market, at the end of the 1980 bear market/recession, and near the end of the 2007-2009 bear market. HOWEVER, this also occurred halfway during the 1981-1982 recession and bear market.
Overseas, expectations for an economic rebound are high. The ZEW Germany Expectation of Economic Growth, which asks 350 financial market experts about their expectations for the future, is at at the highest level in years:
Such high readings aren't necessarily a bullish sign for stocks. For example, this did happen just before the final leg of the 2000-2002 bear market when German equities crashed: