On Sunday, New York reported virus-related deaths had fallen slightly from the previous day, the first instance in a week.
“Seeing the market soar the way it is, even though the fundamentals continue to be in free fall, the market is looking across the valley and saying ‘six months from now things will be on the ascent,’” said Sam Stovall, chief investment strategist at CFRA Research in New York. Even with the positive signs, US officials have braced the country for a “peak death week” from the pandemic, with the death toll topping 10,000.
Versace owner Capri Holdings surged 25.9% after saying it expects to open its stores after June 1 and that it would furlough all its 7,000 employees in North America.
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