FX.co ★ Optimism comes back to US stock market

Every crisis only makes the US economy stronger. At the moment, the world’s largest economy is proving the resilience of fair market relations. Besides, every new threat boosts the US economy. For example, the US stock market was the first to suffer from the coronavirus pandemic. In a short period of time, Wall Street indices reached record lows. Nevertheless, the market managed to spread its wings. At the moment, the US main indices are hitting new highs. Besides, there is an advance in shares of all companies, including even the most damaged ones. Optimism has come back to the stock market due to the competent actions of the US authorities and well-timed measures. "We are still optimistic that the [Trump] administration will be able to get this virus under control and reopen the economy by the end of April, early May," chief economist at Stifel Nicolaus & Co. Lindsey Piegza said. "If that does occur, it’s likely that we will able to control the downturn from a depressionary scenario into a recessionary scenario." There are all reasons to say that this is a long-term tendency. US Treasury Secretary Steven Mnuchin even asked not to pay attention to statistical data as it would not reflect a positive scenario of future events.