The Week Ahead: Testing market confidence in profits and politics

President Trump’s positive COVID-19 diagnosis doesn’t change the market’s convictions in two things: that there will be another federal stimulus bill and that corporate profits are recovering.The latter conviction is better grounded than the former. Yet it’s the faith that more stimulus is coming that may be tested in the week ahead without meaningful evidence.The bulk of quarterly corporate earnings results still are a few weeks away. Confidence is high that the third quarter was not the mess business experienced in the springtime. Sure, the pandemic continues: Shutdowns and re-openings added…

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