Last week was a shortened trading week due to the 4th of July Holiday. Wall Street shrugged off the dramatic increase of Coronavirus cases as all major indices posted positive returns. Optimism centered on the development of possible treatments and a vaccine. Additionally, an unexpected rise in new job creation pushed markets higher at the end of the week.
We often receive questions regarding the apparent disconnect between market returns and current economic news. It’s important to remember that the news reports on what has happened, while the market looks forward to what it believes will happen.
Past performance is no guarantee of future results