, Columnist
Netflix Throws a Wrench in the V-Shaped Recovery
The rally in leading technology stocks suggests the market is believing two contradictory things at once.
Are we really going to stay at home and watch TV once this is over?
Photographer: Pacific Press/Getty Images
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Let me start with a nugget of history that I am guessing you might have forgotten. Corporate earnings for the fourth quarter of 2019 weren’t that bad; profit growth was weak but sales growth was decent, and both came in comfortably ahead of expectations: