Economic recovery looks “abnormal”. Sectors that usually lead the stock market out of a recession aren’t doing so.

  • Tony Dwyer, chief market strategist at Canaccord Genuity, says the economy “hasn’t spiked on the anticipation of a strong economic rebound, but has ramped based on the coronavirus impact and a probable abnormal economic recovery.”
  • Instead of financials and cyclical sectors leading the way out of the recession, leadership is largely coming from big tech stocks and pharmaceuticals.
  • The sectors doing well are either healthcare related or sectors that “benefit from a longer stay and work-from-home economy”.