Momentum and an accommodative Fed seen keeping 2020 rally going

Published Sun, Feb 16, 2020 · 09:50 PM

US STOCKS rose last week as ebullience and momentum persisted despite a drastic revision of the scale of the ongoing Covid-19 outbreak.

This week, most strategists say the momentum - and accommodative words from the US Federal Reserve - should keep the 2020 rally going.

Chinese authorities said more than 60,000 people have been infected by the coronavirus, with thousands added to the list after a change was made to the way that cases were diagnosed and counted.

Earlier in the week, US stock indexes had hit records because of a series of tallies that showed the rate at which the disease was spreading was slowing, based on the Chinese reporting.

Stocks and other risky assets briefly sold off when the revised estimates were issued, but investors accepted China's explanation that the recalculations were a technical issue that did not require…