The stock market has been holding up remarkably well, but why? Against the backdrop of weak second quarter earnings results, investors are piling in on the hope that a COVID-19 vaccine is coming, there will be additional stimulus and corporate profits will bounce back.Morgan Stanley’s chief U.S. equity strategist Mike Wilson believes the U.S. is experiencing a V-shaped recovery, noting that the current state of the market resembles other recessionary periods right before economic expansion took place. He argues that given the possibility of a “tremendous” rise in operating leverage post-pandemic, the increased efficiency will translate to higher profits.Taking this …read more
Source:: Yahoo Finance
