Making Do: Despite Lack Of Specific G7 Action, Stocks Hanging In After Monday’s Rally [Forbes]
Apple Inc. (AAPL)
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Source: Forbes
Key Takeaways: The market got something from finance ministers this morning, but not quite what it expected. Hopes that the Group of Seven (G7) finance leaders would come riding to the rescue with specific policy measures faded away Tuesday. Instead, kind of like the Fed last Friday, the G7 said it’s ready to support the economy amid the virus, Reuters reported, but didn’t outline anything specific. Maybe this means they’ll eventually harness their combined power to provide stimulus, but the market didn’t appear to like this lack of present action. It sold off initially but now appears to be hanging in there. Even if G7 doesn’t take specific steps, investors expect the Fed to. As of this morning, Fed Funds futures are pricing in the likelihood of a 50 basis-po
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