Many investors remain skeptical the stock market’s powerful ascent can continue and are maintaining their cautious stances, a sign of lingering unease that could challenge the rally in the weeks ahead.

Some of these doubters have been bruised by the S&P 500’s 18% climb this quarter and are perplexed by what they deem a seismic disconnect between the battered economy and roaring financial markets. Hopes for a swift economic recovery following coronavirus lockdowns and historic stimulus measures by the world’s central banks…

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