S&P 500, Nasdaq at record highs on COVID-19 treatment hopes
FILE PHOTO: The 11 Wall St. door of the New York Stock Exchange is seen in New York City, New York, U.S., June 26, 2020. REUTERS/Brendan McDermid
“There was no news over the weekend following last week’s confirmation to cause a shift in thinking,” said Oliver Pursche, president of Bronson Meadows Capital Management in Fairfield, Connecticut. However, the World Health Organization expressed skepticism about the treatment due to “low quality” data.
Market participants will pay close attention to U.S. Federal Reserve Chairman Jerome Powell’s remarks on monetary policy at this week’s Kansas City Fed Jackson Hole symposium, which is being held this year in a virtual format.
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