The widely cited ‘disconnect’ between Wall Street and Main Street suddenly appears less confounding
A “Now Hiring” sign advertising jobs at Lowe’s is seen as the spread of the coronavirus disease (COVID-19) continues, in Homestead, Florida, U.S., April 17, 2020.
Marco Bello | Reuters
Quite unexpectedly and rather suddenly, investors have been given a reset, a reprieve, a chance at a fresh start. What should they do with it?
The furious stock-market rally, already the best-ever over 50 trading days through Tuesday, on Friday pulled the S&P 500 just about even for the year. Including dividends, the index has made you money in 2020, after a 37% collapse, a global pandemic and in a still-constrained economy.
With Friday’s burst higher on a far better-than-expected May jobs report, traders rushed to grab more exposure to the recovery scenario, which meant selling Treasury bonds and buying cheaper cyclical stocks that had been the main …continued .
[Source: CNBC News]