Andrew Kelly/Reuters
When asked where do you think the S&P 500 will end the year, investor responses were almost evenly split to down more than 10%, up more than 10%, and everything in between. Colas chalked up the "conviction-less" market to the number of uncertainties remaining given the continued spike of COVID-19 cases in the country and the unknowable economic impact from the disease over the coming months. Tuesday's reading of the CNN Fear and Greed Index backs up the lack of conviction found in DataTrek's survey. The CNN index registered a neutral rating of 48.
Fifty-two percent of respondents chose technology stocks when asked which US large cap industry group they thought would do the best over the rest of the year.
That's why you pick selected companies that will make money no matter what happens. A good example in my opinion is MSFT, it will be purchased and used.
Up.
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