Why US Stock Markets Have Recovered So Fast

Written By University of the West Author

Photo of Universal Journal of Accounting and Finance, Dr. Bill Chen, and Patty Hsu

A paper jointly written by Bill Y. Chen, Professor of Business Administration, and Tzu-Ting (Patty) Hsu, a UWest Post-MBA program graduate, has been accepted for publication in the peer-reviewed reference, Universal Journal of Accounting and Finance.

The paper focuses on why the US stock market has recovered so quickly from the pandemic crash in March 2020. Researchers selected three types of the independent variables—pandemic-related variables (US and global infections and deaths), economic variables (e.g., jobless claims and economic index), and variables related to vaccines and therapies—to study factors which led to the significant changes in the three US major stock indices (DoW, S & P 500 and NASDAQ). The regression analyses of the data from March 1 to October 31, 2020 indicate infections and deaths did not directly and significantly affect the recovery, but vaccines and medical treatment developments decisively determined stock market movement. In addition, the Weekly Jobless Claims and Weekly Economic Index significantly affected some stock indices. The paper further discusses the prospects of the US stock market and its long-term threats. It offers a comprehensive and new perspective on the dynamic of the US stock market that is valuable to both investors and policy-makers.

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