Is the coronavirus bear on the run? When Wall Street's week ended Thursday, the S&P 500 stock index was 25 percent higher than its crashing March 23 low. But the global economy remains in a coma, and prognosticators are seeing a contraction rivaling the Great Depression. Some $4.5 trillion in economic stimuli from the U.S. government and Federal Reserve, along with leveling off of new virus cases, have nonetheless fueled market advances not seen since the 1930s.
Will it last? No one can say for sure, but considering stats from past downturns, one analyst foresees a new low this summer.