Update: Wall Street’s rally rolls into Day 4 on reopening hopes (AP)
WNU Editor: So why is the US stock market surging with all of this bad news, and with even more bad news expected in the next day or two …. US job losses in May could raise 3-month total to 30 million (AP). I think it is because of a combination of factors. The first one being the US Federal Reserve, and the pumping of a lot of money into the markets. (2) The massive unrest in the U.S. since last week appears to be tampering down. (3) The reopening of some businesses after being locked down for almost 3 months. And (4) the perception among many in the stock market that President Trump will be re-elected in November. I think this perception that President Trump will win is premature, but those who I know are making their investments based on that belief/perception.And as for the rest …. I am not sure if it is sustainable. And if a second and more deadly wave returns later this year when the weather and climate favours it, all bets are then off.
Source: Why Is The U.S. Stock Market Recovering With Massive Gains While Unemployment Conitnues To Rise?
Category: stock markets
