No Breather Needed… After US stocks powered into the weekend, today’s slow start was easily dismissed as the market taking a “breather.” But apparently FOMO and FANG need no rest, as the usual suspects of tech led the Nasdaq into the green (FDN +1.1% new all-time highs) and the S&P and small caps (IWM +0.1%) have now turned positive as well. Clearly the re-opening optimism hasn’t played out yet, with CNBC making much ado about Shanghai Disneyland opening its gates to a limited crowd. However, if countries like China and South Korea that are employing contact-tracing and other arguably invasive methods are still having trouble containing second wave infections, how will the USA fare against the same challenges?
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