This is how the pandemic created huge market gains

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This is how the pandemic created huge market gains

Image Source: NYSE

The stock market’s rise after its fall this year was unprecedented, to say the least. Stocks continue to soar, even as millions of Americans are still struggling. Right now, 10.7 million are unemployed, according to government data.

“One of the things that the pandemic has underscored more than anything else is that the stock market is a forward-looking mechanism,” said State Street Global Advisors Chief Investment Strategist Michael Arone. “That’s been the tagline all year long as investors continue to scratch their heads wondering why the stock market could perform so strongly while the economy, labor market and earnings face such challenges. It’s more about future expectations than current conditions.”

In this case, what comes next? Is a pullback on deck?

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Image Source: WFAA.com

Earlier this week another American was infected with the newer strain of the virus that was first found in the U.K., officials said. This second case appeared in California, apparently in the southern region.

Governor Gavin Newsom and Dr. Anthony Fauci held a Facebook live earlier this week to talk about the development.

“I don’t think that the Californians should feel that this is something odd. This is something that’s expected,” Fauci said during their call.

Prior to the California case, someone in Colorado was also infected with this same, new strain, dubbed B.1.1.7. There may even be another person in the state with the same variation, an official said.

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