Good MorningEquities market shrugged off warnings from Jerome Powell and Steven Mnuchin in favor of economic data. The warnings, the economic recovery is on an uncertain footing and tied to an even more uncertain pandemic. The data, Consumer Confidence surged 13 points to post the single largest one month gain on record and approach its pre-pandemic levels. For those betting on a quick rebound and earnings recovery, the consumer data is good news indeed.
The broad market S&P 500 gained nearly 2.0% in Tuesday action to cap the best quarter of gains since 2009. The market has advanced more than 36% since hitting its bottom in March and the gains are not likely over, not as long as the economic data continue to come in as it has been. The next major market mover is going to be the NFP report, due out on Thursday, and it is expected to be a big number.
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Markets | | | Insulation, Stability, Distributions, And Growth
If there is one thing that is certain about the investing environment right now it is that virtually everything is uncertain. We are certainly on track for an economic rebound, the earnings outlook for most companies is improving, but there are still... Read the Full Story |
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Markets | | | With a 14% jump in Monday’s session, it felt like shares of Boeing (NYSE: BA) were single-handedly dragging the Dow Jones Jones Industrial index out of its recent flunk. Going into this past weekend, the benchmark index had shed close to 4% in just three sessions and was down 10% in just two w... Read the Full Story |
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Markets | | | There's one thing you can say absolutely for Lululemon (NASDAQ: LULU) it does not want for audacity. Not even slightly. It's made very bold moves in recent days, and it's been rewarded for this boldness with substantial gains. Like any other big run, though, it's always worth watching out for hypere... Read the Full Story |
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Markets | | | Stay At Home Trends Have Legs
If I’ve said it once I’ve said it twice, the stay at home trends have legs. Regardless of the headlines, the scenes of beaches flooded with tourists, most people are staying close to home. Now, with the resurgence of COVID-19 linked to the reopening, the de... Read the Full Story |
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Markets | | | Crocs (NASDAQ: CROX), a footwear company best known for selling foam clog shoes, was trading at $38 a share in mid-February. Fears of a pandemic-induced slowdown sent shares down to $8 by mid-March.
But Crocs roared all the way back to over $30 a share by late-May and has been basing between $30 an... Read the Full Story |
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