A see-saw week for U.S. stock markets as investors struggled with optimism over economic recovery versus growing concerns over increasing Covid-19 cases. Coming off the July 4th holiday week, a surging Chinese stock market and stronger-than-expected PMI and ISM services index numbers, the S&P 500 Index increased 1.6% on Monday only to see most of those gains reversed on Tuesday after the Trump administration called for a much-smaller-than-talked-about additional stimulus package and U.S. Federal Reserve officials voiced concerns that a resurgence of coronavirus cases could derail economic recovery. The S&P 500 Index rose about 0.6% on Wednesday on no real news only to see those gains more than reversed on a larger-than-expected jobless claims report and continued concerns surrounding increasing Covid-19 cases. Data suggesting Gilead’s remdesivir may help reduce Covid-19 mortalities helped move the S&P 500 Index over 1% higher on Friday. At week’s end the S&P 500 Index increased 1.8% to close at 3,184.04, the Nasdaq Composite Index rose 4.0% to 10,617.44, the 10-year U.S. interest rate fell 3 bps to 64bps and the U.S. dollar (as measured by the U.S. Dollar index – DXY) weakened 0.7%.