Market indexes are picking up right where they left off at yesterday’s closing bell: cruising through the Thanksgiving-shortened holiday week (Thursday markets are closed; Friday closes after a half-day), up strongly between a half-point and a full point before the opening bell. Of course, the Covid vaccine candidates are giving investors a glimpse of a world beyond the pandemic next year, and retail sales take off beginning this week, but there are other considerations, as well.
President-elect Biden’s transition now looks like nothing so much as a simple two-week delay, and cabinet-member announcements are bringing us to a return to normalcy. In particular, Biden’s selection of ex-Fed Chair Janet Yellen appears to set market participants’ minds at ease; Biden looks to be building an administration more centrist that some had feared. Also, Chinese stocks look to have been given a boost on the transition, as President Trump’s trade-war tariffs may be a thing of the past. Tesla (TSLA - Free Report) is up another 5% this morning on a Biden administration’s positive sentiment for green energy and electric vehicles, but Chinese EV maker Nio (NIO - Free Report) leaves Tesla’s returns in the dust.
Meanwhile, the Case-Shiller Home Price Index has come out with its September report this morning, with a headline figure of 7% well ahead of the previous month’s upwardly revised 5.8%. It’s the highest single-month growth figure in more than six years, going back to May of 2014. Led by the usual cities — Phoenix (for the 16th straight month), Seattle and San Diego, which put up 11.4%, 10.1% and 9.5%, respectively — all 19 of the 20-cities in the survey (minus Detroit, which has not been included for a while now) went up in value. Housing remains a very strong market.
After today’s opening bell, we’ll get a new print on Consumer Confidence for November. Expectations are for a read of 97.3, down a bit from last month’s 100.9.
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 >>
Market indexes are picking up right where they left off at yesterday’s closing bell: cruising through the Thanksgiving-shortened holiday week (Thursday markets are closed; Friday closes after a half-day), up strongly between a half-point and a full point before the opening bell. Of course, the Covid vaccine candidates are giving investors a glimpse of a world beyond the pandemic next year, and retail sales take off beginning this week, but there are other considerations, as well.
President-elect Biden’s transition now looks like nothing so much as a simple two-week delay, and cabinet-member announcements are bringing us to a return to normalcy. In particular, Biden’s selection of ex-Fed Chair Janet Yellen appears to set market participants’ minds at ease; Biden looks to be building an administration more centrist that some had feared. Also, Chinese stocks look to have been given a boost on the transition, as President Trump’s trade-war tariffs may be a thing of the past. Tesla (TSLA - Free Report) is up another 5% this morning on a Biden administration’s positive sentiment for green energy and electric vehicles, but Chinese EV maker Nio (NIO - Free Report) leaves Tesla’s returns in the dust.
Meanwhile, the Case-Shiller Home Price Index has come out with its September report this morning, with a headline figure of 7% well ahead of the previous month’s upwardly revised 5.8%. It’s the highest single-month growth figure in more than six years, going back to May of 2014. Led by the usual cities — Phoenix (for the 16th straight month), Seattle and San Diego, which put up 11.4%, 10.1% and 9.5%, respectively — all 19 of the 20-cities in the survey (minus Detroit, which has not been included for a while now) went up in value. Housing remains a very strong market.
After today’s opening bell, we’ll get a new print on Consumer Confidence for November. Expectations are for a read of 97.3, down a bit from last month’s 100.9.
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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