The stock market enters another pandemic quarter riding high

Diane Swonk, chief economist at Grant Thornton, said, “we did see a nice pickup in spending on services — people finally returning to hospitals catching up on all those elective surgeries they deferred during lockdowns — and also spending on some travel picking up. What we didn’t see, and what was really devastating, was we saw a drop in spending in food stores in August from July. And that was really closely tied to the lapse in that $600 a week supplement to unemployment insurance.”