Wall Street Closes Best Quarter Since 1987 on Strong Economic Numbers

While everyone is distracted with the ongoing violent uprisings around the country and Trump’s latest tweet, the main stream media continues to ignore the incredible gains being made by the stock market, despite continued lockdowns due to the Covid-19 pandemic.

Markets Insider reports:

US stocks rose on Tuesday as better-than-expected economic data outweighed mounting concern over a second wave of COVID-19 cases.

The Dow Jones industrial average’s 18% gain in the three-month period from April through June marked the index’s best quarterly return since 1987. Meanwhile, the S&P 500 saw its best gain since 1998 during the period, while the Nasdaq capped off its best quarter since 2001.

Equities got a lift from data showing US consumer confidence jumped in June by the most since 2011, exceeding consensus economist forecasts.

Still, investors are still keeping a wary eye on a second wave of COVID-19 that could slow the ongoing economic recovery. States such as Texas, California, Florida, and Arizona have rolled back reopening plans and imposed new restrictions as local COVID-19 cases have spiked.

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