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Market Watch Weekly | August 21st, 2020 | In Other News... Apple is Now Worth More than Canada. Seriously.

Erik Dekker - Aug 21, 2020
It was a record-breaking week for the S&P 500 and tech-centric NASDAQ. Five months removed from the biggest market selloff of our lifetime, the S&P 500, the broadest measure of the U.S. stock market, was within 0.40 points of breaking the 4,000 mark.

It was a record-breaking week for the S&P 500 and tech-centric NASDAQ. Five months removed from the biggest market selloff of our lifetime, the S&P 500, the broadest measure of the U.S. stock market, was within 0.40 points of breaking the 4,000 mark for the first time ever. While the gains are certainly welcomed by investors,the economy is far from back on its feet, so naturally it begs the question: How has the stock market recovered so quickly? The market reflects the unique economic shutdown and reopening aspects of this downturn, which produced the fastest ever bear-market drop from a market peak, as well as what we expect to be an abnormally short official recession (though also abnormally severe). The stock market's recovery is a reflection of the forward-looking nature of the stock market. While economic readings display recent but backward-looking activity, stocks reflect future expectations in real time.

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