Stocks are in recovery mode as investors are energised by the prospect of further stimulus, a rebound in US retail sales and on hopes of a ‘major breakthrough’ treatment for serious cases of coronavirus. The Fed’s decision to buy individual corporate bonds and hopes the White House will swing a $1tn infrastructure package continue to help lift the boats. US retail sales jumped 17.7 per cent in May from the previous month, but still remain down sharply on a year-over-year basis – remember sharp rebounds are to be expected after the easing of lockdown, it does mean things are peachy.
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