‘Rally of hope`: Why the S&P soared back past 3,000
(WorldNews Sport)

Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York City NEW YORK (Reuters) – Unthinkable just two months ago as the world economy shut down in response to the coronavirus pandemic, the U.S. stock benchmark S&P 500 index broke through the psychologically-important 3,000 level on Tuesday, capping a 37% stock rally since its March low. But the market may be priced for an economic recovery that the data so far does not support, and some participants say the rally has gone too far, too fast. It has been fueled by extraordinary interventions by the Federal Reserve and other central banks, a $2 trillion stimulus passed by Congress,...