The economy is falling apart, but Wall Street has had its best quarter in decades

The economy is falling apart, but Wall Street has had its best quarter in decades

The Dow (INDU) It recorded its best quarter since the first three months of 1987 with a jump of 17.8%, while Standard & Poor’s 500 (SPX) It recorded its best quarterly gain since the last three months of 1998, up 19.9%.
Heavy technology Nasdaq composite (COMP) Just a little late, with his best performance since the fourth quarter of 1999, up 30.6%.

All three indices ended in green on Tuesday, the last trading day in June and the second quarter.

The bursting boom came at the height of big selling in the market in March, when the pandemic began to close. The Dow Jones Index The worst start to a year in historyBy 23.2% in the first three months.
But investors were optimistic about the summer thanks to the gradual reopening of the economy – which started early in April in some states – as well Unprecedented money And Financial incentives Investors were left optimistic about the summer.
more than 20 million American jobs have disappeared In April, but soon after, a picture of jobs and other economic data It started to improve as well.

However, it is clear that the country’s crisis is not over. On Thursday, the jobs report released by the Bureau of Labor Statistics is still expected to show an unemployment rate of over 12%.

However, investors decided to focus on the positives.

Over the past few weeks, infection rates have risen in parts of the country and some have been left Countries to stop reopening plans. Economists worry about what the second shutdown could do to recover. These concerns have affected the market some days, but they have often been overlooked by hopes for more stimulus money from Washington.

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