Stocks Are Rallying as President Trump Pushes to Reopen the Economy. But Can the Bull Market Really Last?
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It seems like a contradiction in terms: Death tolls and jobless claims keep rising...and, for the most part, so has the stock market.
Can the bull market really continue? ‘Yes,’ say some stock market strategists, but only if everything goes right.
More than a month after the U.S. began shutting schools and offices in an attempt to halt the spread of COVID-19, much of the economy remains on lock-down, with unemployment lines at their longest since the Great Depression.
Meanwhile, the Dow Jones Industrial Average is 25% above its mid-March lows, and, at around 23,000 is within 22% of its all-time highs. That's despite recent jitters tied to problems in energy markets.
Now, a growing contingent of Wall Street strategists, led by influential brokerage Goldman Sachs, are saying that at least some recent gains may hold, as long as there are no false starts in the ongoing effort to reopen the global economy or a second wave of Covid-19 infections.
But, they caution -- that’s a big ‘if’.
