We're looking at U-shaped recovery on coronavirus and markets: Raymond James CIO

Larry Adam, Raymond James CIO, joins "Closing Bell" to discuss the state of the markets.

Stocks rose sharply on Thursday, wrapping up a big week of gains, after the Federal Reserve detailed a bevy of programs to support the economy during the shutdowns from the coronavirus pandemic.

The S&P 500 gained 1.5% to close at 2,789.82 while the Dow Jones Industrial Average advanced 285.80 points, or 1.2%, to 23,719.37. The Nasdaq Composite closed 0.8% higher at 8,153.58. The U.S. stock market will be closed Friday due to Good Friday.

For the week, the S&P 500 surged 12.1%. That was its biggest one-week gain since 1974, when it rallied more than 14%. The Nasdaq had its best week since 2009, jumping 10.6%. The Dow soared more than 12% for one of its biggest weekly gains on record.

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[john-paul]

I own a barber shop in SC. I have been forced to close. I have applied for everything I can. I have not received any assistance.

I applied for unemployment and I was denied. I appealed it and was told I was not eligible in SC because I am self employed and I can not get the federal $600 per week because it has to go through the state.

My landlord said they still have their own bills to pay and I still have to pay 100% of my rent for my barber shop.

The system is not working for small businesses. If this goes on much longer I will loose my business that has been open since 12/28/2010.

[nvrselout]

The market is at attractive levels? She’s insane. It’s a bailout!!

[SS-uzyb]

From V-shaped to U-shaped to L-shaped... the transformation is half-way there

[garyseeseverything]

Speculators should take the hit not our kids stop printing money!

[RolfRolink]

U shape, in what scale? 2020 down, 2021 up?

[joemorales]

I don’t get it, by the time it reaches new highs you’ll still be saying wait for the drop

[melsmith]

If you have time and money you can make more money put money in good stock that has been there for years that is a good buy right now and don’t worry about when the exact best and lowest point is

[ocvegasproperty]

Is his name Larry or Raymond? Either way earnings don’t matter if your business is closed. It’s about how long you can survive until you open again.

[blanket]

I am looking at a Z shaped recovery and even C shaped recovery

[psboymo]

Bill Gates is so correct and open as usual. So was Stephanie that somewhat challenged Raymond James. This guy can make the devil look like an angel. Very disappointed with the other female CNBC presenter, referring to the jobless numbers being factored in. Zero constructive journalistic challenge. Good to keep on the CNBC payroll. Can do no damage!

[pklee]

“Certain sectors very cheap and depressed, but we don’t have visibility to earning”, how can it be cheap if there is no visibility to earning. Who is going to pay for all the free money that the Fed is printing? I hate to see the next generation pay $100 for a loaf of bread

[jeanchung]

How can the market be at attractive level when we don't even know what the earnings are going to look like? Prior to the crash, PEs were at a record 19X and they were already at a very high level compared to the historic average. Given that prices have only gone down 18 % and earnings are likely to get slammed even more than that, how can the market not be overvalued at the current level? At some point the market will have to reflect the fundamentals and they are not good.

[joshuabreeding]

It’s already to late to be a U. What are you people talking about.

[SkyeTVfinance]

So far its been more of a V shaped recovery.

If you want to know more about the market look at videos on my channel

[cresmarc]

It's v shaped. Nothing is gonna stop the fed bailout

[Crybabehot]

First said V sharp recovery, then U recovery, W recovery, and finally L recovery, LOL

[mmercato]

We will se a W shape recovery. Not V shape. !

[stewartprofessionalservice]

Assurance phase three not kind to villains. Bonds yes. Thx I was broke.

[stewartprofessionalservice]

Emergency alert from a real leader. Missed the spin. Pay taxes or I get them in court.. A Bonds right. Steven and his checkbook. Buy in traitors.

[patriotanswers]

Look at a lot of stocks, they fell down to where they were before Trump got in.