A V-shaped recovery of the stock market is what we were all hoping for back in March, and a few months later, that is exactly what most stock charts look like going back to mid-February. The current question many market watchers and industry professionals are trying to answer is, has the stock market recovery been too much too soon? In March, the question was very similar, did the market go down too much too fast? Based on the quick V-shaped recovery, I think the answer to the market going down too much and too fast question is yes. Time will tell if the sharp rebound has occurred too much and too soon.
The biggest reason for the Wall Street rally last week was jobs, more specifically, the surprise jobs report that was 10 million jobs better than economic forecast predicted.
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Trevor N. Coe, CFP®