It's not the economy, stupid: stock markets soar to record highsThe booming stock markets will offer little solace to the many millions of people who have lost their jobs and livelihoods in the coronavirus pandemicPARIS - The record highs attained by Wall Street last week might come as welcome news for US President Donald Trump. For many, then, the party mood on stock markets might appear "indecent", said Saxo Banque economist Christopher Dembik. "The stock market is not the economy," said Richard Hunter, head of markets at Interactive Investor. "The stock market remains convinced that the (US Federal Reserve) is never going to let any worst-case trading scenario unfold for the stock market." It was a "well-known fact that this stock market has generally greeted any weakness as a buying opportunity."

Source: Bangkok Post August 23, 2020 01:18 UTC