Stocks rose after new data boosted optimism the worst of the economic fallout from the coronavirus pandemic had passed.
Three experts share their forecast for markets and the economy.
Seema Shah, chief strategist at Principal Global Investors, says the recovery will be slow but the payoff may be large.
"We just think it's a very, very slow recovery. And there's many, many risks out there, and certainly the protests, we'd have to consider that as one in terms of coronavirus spread as well. So I think the way that you have to invest your money is, one, you have to be invested, because think back to my global financial crisis. If you had missed out on that bottom level during the crisis, you would have missed out on 10 years of incredible gains. So you have to stay invested but you have to be cautiously positioned."
Shawn Snyder, head of investment strategy at Citi Personal Wealth Management, says this moment looks like those that have come before it.
"Look at the S&P 500 and the Federal Reserve balance sheet between the periods of January 2010 and December 2015, they experienced a correlation of about 0.98, meaning they moved in the same direction about 98% of the time, so it is definitely a key accelerant. When we talk about this recession, we tend to call it unprecedented, but if you actually think about it, we look at the data, and you go back to the past 13 recessions, the S&P 500 had a drawdown of about 30%. And then in the subsequent 12 months from the market bottom it had a rally about 35%. This doesn't really look any different."
Peter Kraus, CEO of Aperture Investors, sees monetary stimulus keeping stocks afloat.
"The market is going to continue to trend higher here. I think the Fed stimulus, central bank stimulus around the world, fiscal stimulus in significant quantities, the prospect of additional stimulus which the market expects is going to take place, and the expectation of therapies and vaccines in the future all basically allow the market to continue on its upward trajectory."