People can change their minds, which is one big reason behind the market’s recovery


How many times lately have you seen a news story about the incredible disconnect between the stock market, now up 37% from the March bottom, and the dire reality of unemployment heading to 25%, municipal fiscal woes, and widespread concerns about the next surge of Covid-19?

The negative tone of the news is reinforced by surveys, such as one published last week in the New York Times, confirming that Americans are still very wary of interacting with each other. Not surprisingly, investors may be confused by those mixed signals.

After placing the economy into an induced coma to limit the coronavirus spread, the effort to snap it out of that suspended animation could be harder than expected….


Morgan Stanley is bringing traders back to NY headquarters next month

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