Last week ended on a positive note as all major indices advanced. This was despite a few stumbles earlier in the week due to the growing number of COVID-19 cases.
Positive news included a decrease in unemployment numbers and a government investment in Novovax and Regeneron to support the development, manufacture and distribution of a COVID-19 vaccine and treatment.
Looking forward, this week we expect to see the first of many earnings reports for second quarter. It is anticipated that results will be disappointing due to the major contraction the economy experienced during March, April and May. Keep in mind that these numbers give important past economic data, but do remain a rearview look.