The economy is crumbling, but Wall Street had its best quarter in decades.


the Dow (INDU) recorded its best quarter since the first three months of 1987 with a jump of 17.8%, while the S&P 500 (SPX) recorded its best quarterly profit since the last three months of 1998, rising 19.9%.
Heavy technology Nasdaq compound (COMP) It was slightly delayed, with its best performance since the fourth quarter of 1999, with an increase of 30.6%.

All three indices are also green on Tuesday, the last trading day of June and the second quarter.

It has been an extremely turbulent quarter for the stock market.
The strong demonstration came after a dramatic market sell-off in March, when the pandemic closed. Case in point: The Dow recorded its worst one-year start in history, falling 23.2% in the first three months.
But investors were optimistic about the summer thanks to the gradual reopening of the economy, which started in early April in some states, as well as the unprecedented monetary and fiscal stimulus that left investors optimistic about the summer.
More than 20 million American jobs disappeared in April, but soon after, the job outlook and other economic data also began to improve.

That said, the country's crisis is clearly not over. The Thursday employment report from the Bureau of Labor Statistics is still expected to show an unemployment rate of more than 12%.

However, investors decide to focus on the positives.

In recent weeks, infection rates in some parts of the country have increased, leaving some states to pause their reopening plans. Economists worry about what a second block to the recovery could do. These concerns weighed on the market for a few days, but were often outweighed by hopes of more stimulus money from Washington.


Please enter your comment!
Please enter your name here