Oil is wobbling again and we’re in the thick of earnings season where no one expects great news. But that is not stopping stocks — juiced by hopes for economic-reopenings and support from the Federal Reserve, whose two-day meeting wraps on Wednesday.
Faith in central banks has played a big role in keeping investors in stocks throughout pandemic turmoil, Jim Bianco, president of Bianco Research, tells MarketWatch. He notes how individual investors using free-trading app Robinhood didn’t stop buying even amid a slump last month, via this tweet:
“As far as stocks go, I worry you’re fighting a losing game. The greed of the market continuing up is giving way to fear the market may retest lows and make a lower low,” Bianco says