After following up a 20 percent drop in the first three months of the year with a nearly 20 percent gain over the April-June quarter, Wall Street has continued its winning ways so far in July. The overall S&P 500 index has rallied back to within 3.9 percent of its record set in February and is back to where it was in early June. Still, worries remain that the rise of coronavirus counts across much of the country will derail efforts to reopen businesses shut down due to the pandemic. That’s why Wall Street is betting on Washington to deliver another trillion-dollar round of economic aid. “The larger the (aid) package, the more it will continue to cushion the downside ramifications of the epidemic.”-AP

Source: The Standard July 22, 2020 02:14 UTC