What’s going on with the U.S. stock market’s amazing performance in these pandemic times?

Quite a lot, actually. In the second quarter, the economy contracted by an annualized rate of about 33 percent, while gasoline prices rose more than 12 percent, and manufacturing increased by more than 7 percent.

And yet, from March through August, the market has outpaced the economy dramatically. Some experts explain it by asserting that the market is disconnected from the economy; others say the opposite.

Even experts at the highest level don’t seem to have the whole picture.

Performance is less of a riddle than many think, when viewed from a more strategic perspective   Full Story