Good MorningInvestors got another round of good news on Tuesday that is sure to help fuel the market melt-up. The news, a round of economic data, includes key reads on manufacturing, services, and the housing economy. In all three cases, the data came in above expectations and points to a much stronger than expected recovery this year.
Perhaps the most important of the data is the housing data. The New Homes Sales figures jumped nearly 20% from the previous month as low levels of inventory and high demand drive the market. Looking forward, experts predict the demand for homes will outpace supply for many quarters to come.
What this means for the home builders is expanding business and growing profits. The S&P 500 advanced only a half percent on the news while the homebuilders gained more than 1.0%. Regardless, the technical outlook is bullish, a new all-time high is in sight for both indexes.
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The stock market is not always a barometer of what is going on in the economy. For example, even as the economy continues to be hamstrung by the novel coronavirus, many stocks continue to only go in one direction … up.
But that isn’t the case with all stocks. And in the right situati... Read the Full Story |
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Markets | | | High-Growth Dividend Stock With Tailwinds, Does It Have Tailwinds
I’m not going to lie. I like AbbVie (NYSE:ABBV). I like this stock very much. This is not the first time I have written about AbbVie it and I am sure it won’t be the last. For those who don’t know, AbbVie is a bio-p... Read the Full Story |
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What a first half of the year it’s been for retail. The higher-end names were already struggling to remain competitive with the discount department stores before COVID-19 hit. The pandemic shuttered their doors overnight and made their premium products both unattractive and unattainable for ... Read the Full Story |
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Stocks | | | Restaurants have been among the biggest losers of the coronavirus pandemic. Forced to shudder their doors, the ability to offer curbside pickup and delivery has been a small consolation for many.
But Chipotle (NYSE: CMG) has bucked the trend. The fast-casual restaurant has been resilient in the fac... Read the Full Story |
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Markets | | | Shares of American Airlines (NYSE: AAL) tend to move in line with peers Delta Air Lines (NYSE: DAL) and United Continental (NYSE: UAL) , but may be setting up for a harder fall. The S&P 500 index (NYSEARCA: SPY) has made a dramatic recovery off its Mar. 23, 2020 lows. The travel and leisure indu... Read the Full Story |
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