The economy is collapsing, but Wall Street had the best quarter of decades

The economy is collapsing, but Wall Street had the best quarter of decades

Dow (Indi) It recorded its highest quarter since the first three months of 1987 with an increase of 17.8%. S&P 500 (SPX) It recorded its best quarterly earnings, up 19.9% ​​since the last three months of 1998.
Technology weighted Nasdaq Composite (COMP) It has increased by 30.6% with its best performance since the fourth quarter of 1999.

All three indices ended in green on the last trading day of June and the second quarter on Tuesday.

The floating rally came to the headlines of a dramatic sellof on the market in March, when the epidemic crash began. Dow worst start to a year in historyfell 23.2% in the first three months.
However, investors were optimistic about the summer, with the gradual reopening of the economy, which started in early April in some states. unprecedented money and financial incentive left investors optimistic about summer.
More 20 million American jobs disappeared Business picture and other economic data in April but shortly after started to develop.

However, the country’s crisis did not clearly end. The job report from the Labor Statistics Bureau on Thursday is still expected to show an unemployment rate of more than 12%.

However, investors decide to focus on positives.

Over the past few weeks, infection rates have increased in some parts of the country, and states to pause re-opening plans. Economists are concerned about what the second lockout can do for recovery. These concerns have gained weight in the market for some days, but have outweighed the hope of getting more incentive money from Washington.
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About the Author: Abbott Hopkins

Analyst. Amateur problem solver. Wannabe internet expert. Coffee geek. Tv guru. Award-winning communicator. Food nerd.

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