Stocks can’t decide what’s more important, the first vaccinations or impending economic shutdowns in New York City and California

Stocks can’t decide what’s more important, the first vaccinations or impending economic shutdowns in New York City and California

Stocks moved higher in the morning today on optimism that the first coronavirus vaccinations meant a “return to normal” was just around the corner. As of 10:00 a.m. Nw York time the Standard & Poor’ 500 had climbed to 3697. And then in the afternoon markets started to worry about news that New York City and California might be headed to a renewed economic lockdown. As of 2:36 p.m. the S&P 500 was back down to 3658.