Switzer on Saturday

Drugs and the second wave are the big watch for the next two months

Founder and Publisher of the Switzer Report
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Friday Close
Change
Change %
Week Change %
Dow Jones
24,465.16
-8.96
-0.04%
3.29%
S&P 500
2,955.45
6.94
0.24%
3.20%
NASDAQ
9,324.59
39.71
0.43%
3.44%
ASX 200
5,497.00
-53.40
-0.96%
1.71%
Data for week commencing 18 May 2020

The headlines from Wall Street overnight were pointing to continued optimism on a drug that will KO the Coronavirus. The US head medico for the virus, Anthony Fauci, gave the thumbs up to the reopening of the economy and the White House is talking more stimulus, which has helped stocks avoid slumping after a solid week for the US market. However, the China problem simmers and represents a drag on stock market enthusiasm.

Ahead of the close, US stocks were up around 3%, making this one of the best weeks since early April. This isn’t bad considering the extent of the US rebound over the past month.