The Dow and S&P 500 hit record highs despite the number of coronavirus cases increasing. However, some investors took solace in the fact that the number of new confirmed cases has declined to its lowest level since late January. Meanwhile, strong earnings from companies such
lifted sentiment as well. "We have been saying that future stock gains would require P/E multiple expansion," said Nick Raich, CEO of The Earnings Scout. "That is exactly what is happening."
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