The dueling forces in this historic period for financial markets pit animal spirits and hope against the coronavirus and its trail of economic destruction. For now, the optimists have the upper hand.
The S&P 500 just posted back-to-back weekly gains for the first time since early February, before either the pandemic or the crash took hold in the U.S. The advance was small by recent standards, but it’s another milestone in 2020’s remarkable markets story.
