Is there a disconnect between stock prices and the daily news?
Almost every day for the last two months, the Wall Street Journal tells of Chapter 11 for this corporation and Chapter 7 for that, declining sales for retailers, a resurgence of Covid-19 cases, reimposition of restrictions on commerce; and for most of those days the NASDAQ goes higher and for many days has been hitting new record highs.
[Today 7/23 may be an exception. This morning’s WSJ had the usual bad news – e.g. “Virus’s Effect on Retailers Worse than Expected”; and the NASDAQ declined 2.29%. It could mean that investors considered the news today but I am dubious.]
Lots of bad signals in the news today but I am inclined to think the markets will be up again tomorrow.