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Need to Know: The economy may already have achieved what marked the bear-market lows of 1970, 1974, 1982, 1990, 2001 and 2009

What a month. In the midst of a pandemic lockdown that has seen some 30 million Americans file for unemployment benefits, and millions more around the globe, the S&P 500 SPX, -2.80% surged 12.7% in April. That is the best monthly performance since Jan. 1987, and the best April since …

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