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Wall Street’s Bulls Drive Epic Market Split From Grim Reality [Yahoo! Finance News]

Fortress Biotech, Inc. (FBIO) 
Last fortress biotech, inc. earnings: 11/12 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: fortressbiotech.com
) -- Unemployment is spiraling toward 20%. Retail sales just dropped the most on record. Global economists predict the worst recession in eight decades. And stock investors have made peace with it all.Up 27% since mid-March, the on Tuesday capped its biggest 15-day run since 1933. So furious has the revival from the fastest bear market been, equity valuations are now back to where they were before it all started. Wednesday’s pullback hasn’t even retraced one day’s advance.It’s a Wall Street adage: The stock market isn’t the economy. Rarely has it seemed more true than in the frenzied advance of the past few weeks.“It’s just mind boggling when you consider the uncertainty,” said Ryan Nauman, market strategist at Informa Financial Intelligence’s Zephyr. “It goes away from everything we’ve learned, that markets will follow the economy or vice versa. Nobody knows when this economic data will rebound. It could be months, it could be quarters.”To be sure, someone is always saying the marke Show less Read more
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