How can Wall Street be so healthy when Main Street isn't?
August 19, 2020
NEW YORK (AP) — The stock market is not the economy.
Rarely has that adage been as clear as it is now. An amazing, months long rally has put the S&P 500 back to where it was before the coronavirus slammed the U.S, even though millions of workers are still getting unemployment benefits and businesses continue to shutter across the country.
The S&P 500, which is the benchmark index for stock funds at the heart of many 401(k) accounts, ended Tuesday at 3,389.78, eclipsing the previous high set on Feb. 19 and erasing all of the 34% plunge from February into March in less time than it takes...