21 May 20 - Tech Giants Soar  | Fletcher's Cut Jobs Global markets were higher overnight as the US market (S&P 500 +1.7%) rose to its highest point in the last two-months as investors again bet on a swift economic recovery from covid-19 driven lock downs and the potential for more stimulus measures from the Federal Reserve. Gains were generally broad based with tech giants Amazon and Facebook both hitting new all-time highs as investors cheered the company's new e-commerce platform - Facebook Shops, while Amazon continues to benefit from from consumers ordering online.   Given the recent recovery the market is pricing in a bounce back in the economy a lot sooner than may be possible, and we remain wary at current valuations (for most companies). We expect volatility to remain while restrictions are still in place and medium-term effects of unemployment are yet to be determined. These factors appear to be overlooked by large stimulus packages an...