With Friday’s rally sending stocks higher, the S&P 500 notched its first back-to-back weekly gains since early February. The index rose over 2.5% this week, while the Nasdaq“Markets are responding to an outlook that is a far cry from the doomsday scenario projected in the latter days of March and early days of April,” says Peter Essele, head of portfolio management for Commonwealth Financial Network. “We’ve moved from depression to recession, with a glimmer of light at the end of the tunnel.
“While there has never been any doubt that the U.S. economy would come back online at some point, these three events, taken together, raised optimism that the comeback will be sooner rather than later,” according to a note from Bespoke Investment Group.“The true litmus test over the next month will be whether payroll cuts have spilled over into additional sectors of the economy beyond leisure and hospitality,” predicts Essele.
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skleb1234 Somebody is going to slide back in to take credit for the recovery
skleb1234 5 stocks accounted for half of S&P 700 points —that’s not a recovery 💰💰👿
skleb1234 Don't hold your breath...
skleb1234 Doesn't take much, does it?
skleb1234 Thank you president Trump!
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