Markets were mixed on Thursday.
The S&P 500 rebounded from an early decline to finish 1.2 percent higher.
Earlier in the day, the STOXX Europe 600 plunged 2.2 percent and the Nikkei 225 tumbled 1.7 percent.
US stocks rose even as a report showed that weekly jobless claims rose by 2.98 million last week.
Diane Jaffee, senior portfolio manager at TCW, suggested that the economy has hit bottom but Minneapolis Federal Reserve President Neel Kashkari said that a “V-shaped recovery is off the table”.
“Stock pickers are just wildly guessing. At this point, I want to listen more to health experts than investors,” said Kashkari.
Unfortunately, some health experts are warning that the COVID-19 pandemic is not going away anytime soon.
“This virus just may become another endemic virus in our communities and this virus may never go away,” said Dr. Mike Ryan, executive director of the WHO's health emergencies program, at a media briefing in Geneva on Wednesday.
No comments:
Post a Comment