If the decade following the 2008 financial crisis was often referred to as the ‘most hated rally’ of all time, the past month has to be the most baffling bounce in history.
We’ve just suffered through a self-inflicted global shutdown, which according to this morning’s job data has left over 20.5 million jobless and an unemployment rate of 14.7% — both records — and especially stunning when considering this all occurred in just a six-week span.
Yet here during the largest real economic shock in modern history, and the “SPDR 500 (SPY)” is off just 11.2% this year. The “Invesco NASDAQ 100 (QQQ) in which dominated mega-cap tech names like “Amazon (AMZN)“”Microsoft MSFT)” and “Netflix (NFLX)” is actually up for the year and down just 1.8% from all-time highs.
So, here I attempt to answer “what’s up with the stock market?” in no particular order… Continue reading at StockNews.com