With the S&P 500 hitting all-time highs twice so far this week, the firm's chief equity market strategist is optimistic the economic recovery will continue to support the historic comeback off the March 23 low." on Wednesday. "We're moving in the right direction.""The rebound, I think, has been very powerful, and it has been very broad," he said. "We've seen V-bottoms in autos and housing.
"We spend a lot of time looking at the initial weekly jobless claims," Orlando added. "The numbers have actually gotten better the last couple of weeks."
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