U.S. markets saw a strong day, with the S&P 500 wiping out all its 2020 losses. The Dow closed up 461.46 points.
"Well I've been humbled many times in my career, and I'm sure I'll be many times in the future. And the last three weeks certainly fits that category," added the legendary hedge fund manager, who admitted he missed the comeback because he underestimated the Federal Reserve.
Wall Street was also riding high on the back of a surprise surge in U.S. employment. The Labor Department said Friday. Economists polled by Dow Jones had forecast a drop of more than 8 million. "The stock market is almost looking past Covid and looking forward to the reopening," said Ryan Detrick, senior market strategist at LPL Financial. "The concerns of another Covid outbreak are real, but the stock market is clearly saying it is much more in tune with the opening of the economy."
Since March 23, the S&P 500 has rallied more than 47% while the Dow has gained over 50%. Those gains come in large part from expectations of a swift economic recovery.
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