Economics
‘Game-Changing’ Stimulus Is Starting to Lift Even the Worst-Hit Stocks
- Federal Reserve balance sheet has ballooned above $6 trillion
- Fed, Congress will provide stimulus until it works: Tony Dwyer
Source: uschools/iStockphoto via Getty Images
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Areas of the market shunned during the coronavirus crash are suddenly finding their mojo again.
Small-caps, cheap stocks and cyclical plays are all on firmer footing this week, ignoring the dire economic and earnings data that’s only getting worse in the background. Their strength has pushed the market to another milestone: More than half the S&P 500’s members are trading above their 50-day moving average for the first time since late February, a swift rebound from the low single-digits just a month ago.