The S&P 500 rose 0.2% to above 3,389, breaking past its previous Feb. 19 high to finish at the highest closing level on record. The Dow Jones industrial average fell roughly 67 points to about 27,777, off 6% from its Feb. 12 peak. The technology-laden Nasdaq Composite rose 0.7% to above 11,210, which had rebounded to records in June and touched another high Tuesday.
The resurgence comes despite a backdrop of historic job losses, bankruptcies and shrinking corporate profits after the economic fallout from the worst global pandemic in a century and one of the sharpest downturns since the Great Depression. The U.S. leads the world in coronavirus cases, recently surpassing 5.4 million, or roughly a quarter of global infections.
Still, investors have shrugged off a string of dismal economic data in recent months and a spike in outbreaks, opting to instead scoop up stocks at bargain prices as optimism grows for an economic recovery with further stimulus and a vaccine. Investors have also gained confidence from a strong housing market, improved consumer spending and better-than-expected second-quarter corporate profits.
Imagine voting for an 88 year old man, suffering from dementia, that’s been in government for 40+ years and believing that he is the solution? Trump is inarguably the best candidate oversee an economic recovery because he’s already proven it once. Trump2020LandslideVictory
Bad news for liberals
CNN MSNBC HuffPost AP onthemove politico ProjectLincoln Forbes The 'amazing' stock market rates have 0 to do with the market and EVERYTHING to do w/ the lower interest rates-there is NO economy....damn you people-There are NO JOBS-not until Joe comes in & handles COVID19-
Infinite bull market
This happens when the FED floods the market with cash...it’s inflated, and not an indicator of the real economy
Thank you President Trump for allowing me to stay retired. Biden would screw us all financially if elected. If you work hard, save and plan all “working Americans can retire with dignity”.
it's a huge bubble caused by d. trump , Republicans and the Fereral Reserve ! You will see when it pops !
Because Wall Street has nothing to do with our national economy- when will you learn that?
Pumped up by Trump and Mnuchin so they can ride it and take every dollar they can before they’re fired and then it dumps and they’ll blame it on Biden Harris...
How many Americans invest in the stock market, aside from IRAs or 401Ks? Most don't, so the hunger, eviction, struggle, and inability to pay for health care experienced by so many Americans doesn't affect this. The rich just keep getting richer, while everyone else suffers.
Trump is doing s tremendous job
The stock market is NOT the economy. This isn’t impressive at all.
Stock Market is about as real as the Covid Virus Pumped up by banks/corporations but never actually backed by any real authentic death numbers. Wearing a panty-liner on your face and believing you are saving the world even as the markets mock you as the rich steal everything
what the fuck do you expect with the Federal Reserve giving big banks trillions of dollars to give away ?
no recession here. complete bullshit.
We aren’t shocked that rich people are continuing to get rich while the rest of America suffers.
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Source: WSJ - 🏆 98. / 63 Read more »