The White House has made a statement saying that “American workers’ weekly hours have increased, 73 percent of small businesses are open, and the stock market is soaring!”
Market implications
It is true that the stock markets are making significant gains in a recovery of the coronavirus, but stock markets are not representative of the global economy, only flow and behaviour. Under the hood of the global economy, especially in the US which has been worst hit by the virus and riots, there is a lot of work yet to be done.
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S&P 500 extends rally to fresh 15-week highs above 3,200
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