By Jesse Cohen
Investing.com – Stocks on Wall Street notched their second weekly gain in a row as the economy continues to recover from the Covid-19 pandemic.
Stocks have rallied sharply in recent months, with all three benchmarks up more than 40% from their lows set on March 23 – when coronavirus-related lockdowns shocked the stock market – as a barrage of stimulus from the Federal Reserve stoked risk appetite.
The U.S. central bank slashed interest rates to zero and rolled out around $2 trillion in stimulus to support the economy in the wake of the coronavirus crisis.
However, many market experts have warned the rally could be tested with the start of the second-quarter earnings season on Wall Street next week.
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Comic: Federal Reserve Stimulus Drives Wall Street Towards All-Time Highs
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