WASHINGTON (Reuters) – White House Economic Adviser Larry Kudlow said on Wednesday it appears that the U.S. economy, plunged rapidly into a recession by the coronavirus pandemic about three months ago, has already hit a turning point.

“The stock market is presaging an upturn in the economy,” he said in an interview with CNBC, pointing to the recent run-up of the stock market as well as a variety of indicators he said were green shoots of the economy.