Is the market's 'free pass' over? | Bankrupt Hertz can sell stock | Underappreciated stock picks

Stocks fell this week on worries about the economy and an uptick in coronavirus cases.

VIEW IN BROWSER | SUBSCRIBE SAT, JUN 13, 2020 WEEKEND BRIEF EDITOR'S NOTE This week, stocks took their sharpest declines since the beginnings of the pandemic shutdowns.   Federal Reserve Chairman Jerome Powell reminded investors that the economy faces a long recovery - and of course we knew that.  Also, a rise in Covid-19 cases reminded investors that the public health crisis is far from over - and we knew that, too, whether we chose to recognize it or not.   Nevertheless, the "free pass" for ignoring these things may be over, says CNBC's senior markets commentator Michael Santoli in this edition of Weekend Brief. It's not likely the market can continue to rise on just "less-bad" news. There's also the uncertainty of the coming election - which could mean higher taxes and tighter regulations.   For these reasons, a test of the market's resilience was inevitable, Santoli writes. It may continue next week, and it may not be a bad thing, altogether.   "We've been overbought for awhile," notes Sam Stovall, chief investment strategist at CFRA. "And digesting gains would be natural."   The market likely will remain in a tug of war next week, writes CNBC's Patti Domm. There is still hope and enthusiasm as the economy reopens, but then there are the worries that the coronavirus will spread further.   Retail sales numbers for May are due out Tuesday and may set the tone for investors, as will weekly jobless claims numbers due out on Thursday. Both reports will give investors an idea of how quickly the economy is recovering.   Despite all this uncertainty, there are still opportunities. CNBC's Michael Bloom has sifted through the latest analyst reports to find underappreciated stocks that should do well in a post-coronavirus world.   Thanks for reading Weekend Brief.  Email your thoughts to EveningBrief@nbcuni.com or follow me on Twitter @tellittoal.   Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Al Lewis | CNBC Markets Editor @tellittoal MICHAEL SANTOLI'S MARKET COLUMN If the market's 'free pass' is over, news must be more than just 'less bad' for rally to resume   THE WEEK AHEAD After big sell-off, stock market will be wary of virus and Fed testimony in week ahead   ACTIVIST SPOTLIGHT Jeff Ubben's ValueAct increases its bet on an unusual environmental play   YOUR WEEKEND BRIEFING  Bankrupt Hertz granted approval to sell up to $1 billion in shares The market's comeback from coronavirus lows caused two Wall Street greats to change their minds Trump delays Tulsa rally that had been planned for Juneteenth Pro traders scramble for protection in 'warp speed' market, spur quadrupling of S&P 500 hedge cost On Main Street, business owners push for greater protection from coronavirus-related lawsuits Stocks like Best Buy and Callaway Golf have underappreciated traits in a post-pandemic society Cramer's week ahead: This is the 'most overbought market in history' MLB gives players' union Sunday deadline to accept new economic proposal before season restart on July 14     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