The stock market's plunge into a bear market this year was only matched by its blistering rally off its lows.
An improving outlook on the coronavirus outbreak"As we've seen some hope that the coronavirus crisis may be peaking and unwavering Fed support, investor sentiment has turned," said Lindsey Bell, chief investment strategist at Ally Invest, in a note. "This latest move up has been a welcome form of market volatility. But the world is moving fast. We believe the markets may need to get through the obstacles ahead before this bear truly ends.
The pace of new coronavirus cases around the world is also slowing. Data compiled by Johns Hopkins University shows daily increases have fallen to a range between 73,000 and 85,000 after spiking to more than 100,000 earlier this month. "The virus appears to be starting to slow, and the market is liking that," said Mike Katz, partner at Seven Points Capital. "Now the question is going to be how quickly people end up going back to work."
, include loans for small and medium-sized businesses along with the purchase of investment grade and junk bonds. That announcement came after the Fed slashed rates to zero in March and launched an open-ended quantitative easing program.On March 27, President Donald Trumpthat includes direct payments for Americans of up to $1,200. The bill also provides loans for businesses to deter them from laying off employees and strengthens unemployment insurance.
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