The Stock Market’s Record High: Why Now?

The Stock Market’s Record High: Why Now?

DealBook Business and PolicyCredit...Colin Ziemer/New York Stock Exchange, via Associated PressAug. 19, 2020Good morning. Stock market futures are up the day after the S&P 500 set a record high, as Target just reported the strongest quarterly sales growth in its history. Investors are looking past the pandemic, for a variety of reasons, which we explain below. (Was this email forwarded to you? Sign up here.)‘This market is nuts'The S&P 500 is 0.1 percent higher than it was six months ago, setting a record at the close of trading yesterday. That doesn't seem so momentous — until you consider what happened in between: The blue-chip index shed a third of its value in the early stages of the pandemic and then roared back, soaring more than 50 percent from its low