The upcoming week will look to see if risk appetite can still be supported on optimism that the coronavirus curve shows signs of flattening and after the Fed’s unveiling of $2.3 trillion in programs to help businesses and governments. With the Fed going above and beyond with stimulus expectations, the could continue to weaken on easing virus fears.
The big banks will kick off earnings season this week, and everyone is bracing for some ugly results. Despite all the uncertainty that persists regarding the coronavirus, optimism is growing that the virus may be peaking in major global hot spots and that the Fed and Capitol Hill have delivered enough stimulus to provide a safety-net for corporate America.
On the data front, regional surveys will draw some attention, but most of the focus will remain on jobless claims. The last three weeks have seen the coronavirus-induced economic shutdown total 16.7 million jobless claims, which will send the unemployment rate soaring towards the…
