Wall Street is resilient despite the confirmation of more than 4.7 million coronavirus cases globally, with nearly 1.5 million of those coming from the U.S.
Powell said: We've done what we can as we go. But I will say that we're not out of ammunition by a long shot. No, there's really no limit to what we can do with these lending programs that we have."Dow Jones Industrial AverageU.S. lawmakers have also approved trillions in fiscal stimulus to help cushion the economic blow from the coronavirus. Some of the fiscal relief measures undertaken include sending stimulus checks directly to Americans and expanded unemployment benefits.
shows that about 58% of the S&P 500's overall market cap is held by companies that have "not been meaningfully impacted by, or in some cases benefited from, the pandemic." The S&P 500's forward price-to-earnings ratio — a widely used valuation metric on Wall Street — currently sits above 20. Katie Nixon, CIO at Northern Trust Wealth Management, pointed out that's above the 5-year and 10-year averages of 16.7 and 15.1.
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