POLITICIANS SET UP THE STOCK MARKET FOR A JULY FALL — MORE BORROWING AND MONEY PRINTING AHEAD $CCL $AAL $DIA $SPY $SPX $PFE $BNTX $NVAX $MRNA $INO
The stock market has been detached from economic reality. Investors, drunk with “hopium,” bored at home and unable to bet on sports, have turned the stock market into a casino. The stock market always looks ahead. It’s sensible for investors to gaze beyond the valley caused by the coronavirus toward good news on earnings in 2021 and a vaccine for the deadly virus. Pfizer PFE has released promising early results on a coronavirus vaccine, along with partner BioNTech BNTX. Other companies are also in the running. However, such optimism does not justify the extent of the strong stock market rally