From the month's low close on April 1 to today's before market open levels, the SPY is up more than 20%. In that same period, more than 85% of the SPY's gains occurred from the gap opens. And through yesterday, the SPY had gapped higher by at least 40 points for six straight days. Markets always evolve and unique behavior is normal and natural - but this month's overnight action is unforgettable.
It looks like the argument you can't pump $10 trillion in fiscal and monetary policy actions without generating higher stock prices is winning.
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