Winning week but stocks are losing steam | Is this a genuine bubble? | Trump showdown with Manhattan US Attorney

With recent spikes in coronavirus cases and fluctuations in the economic data, the historic rally has taken a pause.

VIEW IN BROWSER | SUBSCRIBE SAT, JUN 20, 2020 WEEKEND BRIEF EDITOR'S NOTE The path to recovery is bound to be long, bumpy, and not so "V-shaped" after all.   It's a rude awakening for a market that soared from its March lows, betting that the worst of the pandemic blow had already been over. But as signs of a coronavirus resurgence mount and negative economic data hint at an uneasy rebound ahead, it's getting harder for the market to ignore bad news.   This week, California, Texas, Florida and Arizona have all reported an uptick in new virus cases amid the reopening. Apple said Friday that it's again closing some stores in several states due to the spikes in infections.   Meanwhile, data showed U.S. jobless claims last week fell less than expected, showing only a slight improvement even as parts of the economy reopened. The number also stayed above 1 million for the 13th consecutive week.    A Friday sell-off reduced the Dow's gain for the week to just 1%.   In our weekly look ahead, strategists said investors should expect the market to remain choppy for the foreseeable future as the "uneven" economic recovery unfolds.   Also this week, there were more warnings from billionaire investors pointing to an irrational exuberance in the market.   However, one can argue this fear is overblown because today's action is short of some key features from past bubbles, including pervasive optimism about future profits and heavy flows into stocks, CNBC's Michael Santoli writes.     Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Yun Li | CNBC Markets and Investing Reporter @YunLi626 MICHAEL SANTOLI'S MARKET COLUMN The stock market may be pricey, but it's nothing like the genuine market bubbles of the past   THE WEEK AHEAD The stock market is running out of steam with reopening trades fading and economic data 'uneven'   ACTIVIST SPOTLIGHT JANA Partners pushes for changes at a government contractor with an activist-friendly chairman   YOUR WEEKEND BRIEFING  Manhattan U.S. Attorney Berman refuses to leave after Trump says SEC chief Jay Clayton will replace him Brazil passes 1 million coronavirus cases with no end in sight These stocks are best positioned for the 'megatrends' caused by Covid-19, UBS says Robinhood increases guardrails on options trading in the wake of a customer suicide Elon Musk tweets Tesla will have to postpone its annual shareholder meeting Here are some under-the-radar calls from analysts this week: Nike, Microsoft, Best Buy & more Kamala Harris would bring anti-Trump energy to a Joe Biden ticket, but her law enforcement record poses risks A tale of two recessions: Some Americans thrive as others suffer     Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS