Earnings season will tell if stock market optimism is justified

The sharp contrast between stock markets marching higher in the face of increasingly bleak headlines and economic carnage from the virus has been bewildering.To wit, global equity markets fell by 34 per cent from February to March, but have already recovered the vast majority of that drop by now. That turmoil now feels like aeons ago. Stocks are now less than 5 per cent below their all-time highs set in February.Meanwhile, in the real world, while economies are getting back on their feet, they…

Read the original article at South China Morning Post