The New York Stock Exchange, the main trading venue, closed the last session of the positive second quarter on Tuesday, ending the biggest quarterly increase in more than twenty years.
The giant Wall Street reported its best quarter since 1998 this Tuesday with the highest profit index, a good end of three months for investors as the market exclaimed back its record heights after a torrid fall from the pandemic that has hit the World economy.
The S&P 500 rose 1.5%, accumulating its profit for the quarter to almost 20%. This rebound was followed by a 20% drop in the first three months, the worst quarter in the market since the 2008 financial crisis. The drop occurred when global health isolation began and millions of jobs were lost.
“It’s the first time we’ve had consecutive quarters like this since the 1930s,” argued Willie Delwiche, investment strategist.
The trigger for the upturn that influenced the stock markets in the second quarter came as home investors increasingly hoped that the economy could emerge from its sudden recession somewhat quickly. Hopes seemed even more solid after quarterly reports showed that the job market had returned to growth and retail sales had rebounded when governments slowed containment orders a bit to curb the spread of the virus.
News in development.