NEW YORK, April 2 (Reuters) – U.S. President Joe Biden’s massive infrastructure proposal and the upcoming corporate earnings season could offer investors fresh insight on the sustainability of a rally that has taken stocks to all-time highs.
The S&P 500 scaled 4,000 for the first time on Thursday and closed up 1.18% at 4,019.87, extending the benchmark index’s gain to nearly 80% from lows in March 2020. The rally has been driven by unprecedented U.S. stimulus measures and expectations that widespread vaccinations against COVID-19 will spur an economic rebound.
Evidence of strengthening economic and corporate growth could support investor confidence after a quarter that saw solid stock gains but also a worrying surge in bond yields and pockets of market volatility, including the wild ride in GameStop shares and the meltdown of highly leveraged family office Archegos Capital. Read more…..
Chart of the Day
Warren Buffett addresses the US economic recovery and the current debt crisis at the 2013 Fortune Most Powerful Women Summit in Washington, D.C.