Last Week: From Dictionary.com: Stimulus (stim-yuh-luhs), noun. In economics, a stimulus is a government injection of money into an economy and intended to spur (stimulate) economic growth. If William Shakespeare were around in 2020 he might have penned “to stimulate,...
Last Week: Here is how we wrapped up our previous commentary: “Politics will become an even more dominant verse, with the first presidential debate being held on Tuesday in Cleveland. The most important economic release will come on Friday when The Bureau of Labor...
Last Week: The song remained the same on Wall Street with a disconcerting level of COVID-19 cases and deaths combined with dysfunctional drama in D.C., somewhat offset by promising vaccine development announcements. The market experienced roller coaster daily swings...
Last Week: Hot tech IPOs and renewed optimism on the development of COVID-19 vaccines provided a springboard for a rally in the markets on Monday and Tuesday, but Wednesday afternoon’s FOMC meeting poked the bears back into action. The Nasdaq 100 sank as much as 2.8%...
Last Week: The Bears are back in action. On Wall Street the market labored to find its footing following the holiday weekend, with the S&P declining 2.5% to post its first back-to-back weekly loss in four months. The Tech sector had its worst week since March with...
Last Week: At lunch on Friday I saw a band called “The Momentum Traders” singing a somber tune: Yesterday The market was such an easy game to play Now it looks as though might stocks might sway Oh, I believe in yesterday Suddenly My portfolio isn’t what it used to be...
Last Week: The S&P 500 gained 3.26% to set another record high, while the yield on the Ten-Year Treasury jumped 9 basis points to 0.73%, its highest level since June 10th. Tech stocks continued to surge, with the Nasdaq composite adding 3.39% and is now up an...
Last Week: Mega-cap tech stocks carried the S&P 500 to a new record high, with Apple accounting for 60% of the 0.7% weekly gain. The tech-heavy Nasdaq composite jumped 2.65% and is now up 26.07% for 2020. The breadth of the market needed a tic-tac as decliners...
Last Week: The S&P 500 gained 0.64% to finish at 3372.85, just fractionally below the record close of 3386.15 set on February 19 of this year. It briefly reached an all-time intra-day high Wednesday, before dipping lower later in the afternoon. Both the bond...
Last Week: The market continued to rebound fueled by better than expected corporate earnings, hope for another round of helicopter money from the government, and optimism over COVID-19 vaccines and therapeutics development. Reality Check: 1) Second quarter earnings...