[NEW YORK] Wall Street stocks finished with solid gains on Wednesday as the market embraced data from New York and other coronavirus hotspots that suggested the outbreak was leveling off. Read more at The Business Times.
The improved data from New York and some other hotspots has buoyed investment bulls who think the US economy may be able to ramp up before too long.
But other commentators are far more skeptical, noting that the trajectory of the virus remains highly worrisome in other parts of the United States. Oxford Economics has projected in its baseline forecast that the lockdown measures extend for six to 12 weeks, but released a note Wednesday that pointed to a possible"downside" scenario where lockdowns are prolonged into the third quarter, resulting in a global contraction of eight percent in that period.
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