Stocks Rebound on Stimulus, Volatility Continues, US Now #1 in Coronavirus Cases at Over 100K
The stock price volatility in March continued as the Federal Reserve and Congress implemented more monetary and fiscal stimulus efforts to try to combat the recessionary impact of COVID-19 on the economy. While previous efforts were largely ignored by the stock market, these bigger and bolder efforts finally gave us back to back gains which we hadn’t seen since February. Have we bottomed? We likely need the pace of COVID-19 to slow and it is still accelerating as testing catches up with the number of real cases out there. The US jumped from #6 last week to #1 this week in number of cases with over 100K now on a 445% W/W increase.