Brent Weiss, co-founder and head of planning at the financial planning firm Facet Wealth, said the upheaval of the second quarter made many Americans realize that there were"cracks in the foundation" of their financial stability."Clients were scared. This was the fastest decline in market history," he said.
Powell said the CARES Act had been a crucial lifeline over the past three months."This direct support is making a critical difference not just in helping families and businesses in a time of need, but also in limiting long-lasting damage to our economy," he said., particularly if states or regions have to pause or reverse their reopenings in the coming quarter.
"Fundamentally, I think investors need to proceed with caution," said Sam Stovall, chief investment strategist at CFRA Research."The number of COVID cases is, indeed, spiking higher, yet the market seems to be ignoring it."Ultimately, the gains need to be backed by earnings fundamentals to be sustainable."Sentiment needs to be met with the conditions on the ground," Hamrick said."People are both betting and hoping that the economy stages a solid recovery.
That was HARD FOR YOU YO SAY, even had to spin it your way too!! NBC MAKES ME SICK
That’s because you can’t fight the Fed and J-Pow is printing money at record speed to keep this sinking ship afloat.
The market is not the economy. You should know better NBC.
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Source: MarketWatch - 🏆 3. / 97 Read more »