FILE PHOTO: Investors look at screens showing stock information at a brokerage house in Shanghai, China January 16, 2020. REUTERS/Aly Song
E-mini futures for the U.S. S&P 500 were up 0.2% in early Wednesday trade, extending the gains so far this week to 1.4%. Various high-frequency data, such as restaurant bookings and mobility data, shows activity is also gradually recovering in many developed countries after bottoming out in April. “Stock markets are betting on a V-shaped recovery in July-September. But the gap between stock market and the real economy is growing. Many corporate executives must be now wondering why their companies’ shares are rising so much,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.