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Benzinga 04/23/2020 09:45
A month ago today, the S&P 500 Index (SPX) sank to three-year lows under 2200 as the economy reeled from the coronavirus pandemic. The crisis still rages, but the SPX has sure caught fire since then. It closed yesterday just a touch below 2800 and up nearly 28% from last month’s low point, reflecting what appears to be a lot of faith in the ability of Congress and the Fed to prevent a devastating blow to the economy. In some ways, it’s been devastating already when you think of so many people out of work and struggling to get by. Today’s weekly new jobless claims of more than 4.4 million, the oil market collapse, and companies pulling their guidance all reflect economic upheaval. More rough news came from overseas Thursday as Europe’s April.

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