Jobs data, earnings reports could break bull-bear tug-of-war tie

Published Sun, May 3, 2020 · 09:50 PM

THE tug-of-war between the bulls and the bears is currently tied after a strong month ended on a weak note, but jobs data and earnings reports this week could break the tie.

US stocks completed their largest monthly gains since 1987 last week, as investors looked past the deadliest epidemic and the worst economic data in decades and focused on the "light at the end of the tunnel".

But the week ended with a rude awakening as the giant companies thought to be spared during the Covid-19 economic shock - including Amazon.com and Apple - warned that they would not escape the red ink.

With stocks about halfway between their highs and their lows for the year, the battle lines are drawn. The bulls, feeding on Federal Reserve support and signs that the world is learning to li…