Wall Street stocks rallied to fresh records on Thursday, December 17, on optimism over stimulus talks and coronavirus vaccines, even as the pandemic worsens in the United States, weighing on the near-term economic outlook.
"The market is seeing bad data...yet it still rallies because it still is fixated on a 2021 recovery." Still, markets charged higher as long-stalled congressional talks on stimulus appeared to be entering the homestretch and US experts met to discuss a COVID-19 vaccine from Moderna. "The number of new COVID cases surged to a new daily high over the past 24 hours, and the fears of a post-Thanksgiving spike seem to be confirmed with hospitalizations still on the rise as well," Gorilla Trades strategist Ken Berman said.
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