The pre-market gains to start the week built and held as the day moved on, with the Nasdaq climbing 1.8% or 204 points, followed by +1.6% on the S&P 500 or 53 points, with the Dow up 410 points or 1.5%. No headlines, economic or otherwise, dragged positive sentiment into the close; it was already there — based on a relatively oversold market through most of last week, with bargain-shopping investors looking to get in on the rebound trade.News reports that the two sides on Capitol Hill have not given up on a new relief bill helped airline companies like American (AAL - Free Report) and JetBlue (JBLU - Free Report) , both up over 3% Monday, as the airline industry had begun to lament that as many as 30K workers in the industry may need to be furloughed. Any package deal reached by Congress would provide a shot in the arm to the economy, at least in the near term, as the momentum looks to be lagging with a pandemic stubbornly sticking around into the fall, hampering businesses reliant on somewhat normal trends in consumer spending.
Energy stocks performed well today, as an all-stock merger between Devon Energy (DVN - Free Report) and WPX came out today, to the tune of around $12 billion overall. The merger would create a bigger player in the Permian Basin, and comes at a time when oil and gas prices are off their multi-year lows. Colder weather months and a continuing — if lurching — Great Reopening look to be catalysts for the Energy space overall, moving forward.
We’ll see Case-Shiller home prices, Advance Trade in Goods and Consumer Confidence reads tomorrow, ahead of the initial presidential debate Tuesday evening. Much focus will be on the debate as the two-year cycle of primaries to November 3rd’s General Election brings a political reckoning to American policies, both for the end of 2020 and the next 2-4 years. Early voting in many states has already begun, however, with more states being added over time; perhaps this year presidential debates will have less impact than we’ve seen in recent elections?
Questions or comments about this article and/or its author? Click here>>
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The pre-market gains to start the week built and held as the day moved on, with the Nasdaq climbing 1.8% or 204 points, followed by +1.6% on the S&P 500 or 53 points, with the Dow up 410 points or 1.5%. No headlines, economic or otherwise, dragged positive sentiment into the close; it was already there — based on a relatively oversold market through most of last week, with bargain-shopping investors looking to get in on the rebound trade.
News reports that the two sides on Capitol Hill have not given up on a new relief bill helped airline companies like American (AAL - Free Report) and JetBlue (JBLU - Free Report) , both up over 3% Monday, as the airline industry had begun to lament that as many as 30K workers in the industry may need to be furloughed. Any package deal reached by Congress would provide a shot in the arm to the economy, at least in the near term, as the momentum looks to be lagging with a pandemic stubbornly sticking around into the fall, hampering businesses reliant on somewhat normal trends in consumer spending.
Energy stocks performed well today, as an all-stock merger between Devon Energy (DVN - Free Report) and WPX came out today, to the tune of around $12 billion overall. The merger would create a bigger player in the Permian Basin, and comes at a time when oil and gas prices are off their multi-year lows. Colder weather months and a continuing — if lurching — Great Reopening look to be catalysts for the Energy space overall, moving forward.
We’ll see Case-Shiller home prices, Advance Trade in Goods and Consumer Confidence reads tomorrow, ahead of the initial presidential debate Tuesday evening. Much focus will be on the debate as the two-year cycle of primaries to November 3rd’s General Election brings a political reckoning to American policies, both for the end of 2020 and the next 2-4 years. Early voting in many states has already begun, however, with more states being added over time; perhaps this year presidential debates will have less impact than we’ve seen in recent elections?
Questions or comments about this article and/or its author? Click here>>
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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