Markets gained this week as more US cities started the reopening process after the coronavirus outbreak. Meanwhile, tensions are still high in the country following nearly two weeks of protests against racial injustice.
RT’s Boom Bust talks to CEO of Transformity Research Tobin Smith about the stock market rally and whether it’s going to continue further.
“I expect it to continue,” Smith says, explaining that the market usually responds best to information that’s not as bad as initially thought.
According to him, when investors or traders start thinking about what they are going to do, “they build this negative narrative, and piece by piece that negative narrative is being blown up.”
Smith adds that “if somebody was trying to figure out what is going to happen, they are way behind the market place. You got to live in a real world if you [are] going to invest money, and in the real world it is going to be better now than it was.”
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