Stock Market: Investor Mood Too Optimistic

By John S. Tobey

Last Friday (April 17) created relief and enthusiasm in the stock market. The Wall Street Journal even shifted their page one headline from coronavirus to the happy results: “Markets Rally in Face of Downturn.” The subhead excitedly reported, “Fueled by Fed moves, Dow is up 15% in two weeks, despite crisis permeating economy.”

However, there is a problem with this theme, evident in the first two paragraphs (underlining is mine) …

“The Dow Jones Industrial Average staged its best two-week performance since the 1930s, a dramatic rebound that has left many investors with a confounding reality: soaring share prices and a floundering economy.

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