S&P 500 closes barely higher as investors balance pandemic with recovery

FILE PHOTO: The New York Stock Exchange is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon

The S&P 500 and Dow Jones Industrial Average remain within 20% of all-time highs reached in February, and the tech-heavy Nasdaq is within 10% of its closing record. “Investors have been buying equities given the realistic expectation that massive fiscal and monetary stimulus will reignite economic and profit growth,” said David Carter, chief investment officer at Lenox Wealth Advisors in New York. “There is still a fair amount of optimism in the markets, but this could be quelled if coronavirus cases re-emerge.”

What recovery?

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