- The bellwether S&P 500 index inched higher on Tuesday, with fresh warnings of a possible higher death toll from the new coronavirus and plunging consumer confidence curbing investor hopes for a near-term economic revival as states began to relax restrictions enacted to halt the pandemic’s spread.
The Dow joined the S&P 500 in positive territory but the Nasdaq was in the red, weighed down by technology stocks. “The market seems to be resilient but I don’t know how much longer that will last,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “It’s a question of time before the market pulls back. The notion that this is going to be V-shaped recovery is fading.”
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