By Jesse Cohen
Investing.com – Stocks on Wall Street notched their second weekly gain in a row as the economy continues to recover from the Covid-19 pandemic.
The rose 1% for the week while the jumped 1.8% in the same time period.
The tech-heavy , meanwhile, climbed 4% on the week to end at another record high, boosted by gains in Amazon (NASDAQ:) and Netflix (NASDAQ:).
Stocks have rallied sharply in recent months, with all three benchmarks up more than 40% from their lows set on March 23 – when coronavirus-related lockdowns shocked the stock market – as a barrage of stimulus from the Federal Reserve stoked risk appetite.
The U.S. central bank slashed interest rates to zero and rolled out around $2 trillion in stimulus to support the economy in the wake of the coronavirus crisis.
However, many market experts have warned the rally could be tested with the start of the on Wall Street next week.
JPMorgan Chase (NYSE:), Citigroup (NYSE:) and Wells Fargo (NYSE:) report their results on Tuesday, followed by Goldman Sachs (NYSE:) on Wednesday.
Thursday will see Bank of America (NYSE:) and Morgan Stanley (NYSE:) report their results, with then due after the closing bell.
To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.