The footing is soft but the market remains upright for now and trying to move ahead. The indexes idling after yesterday's little shakeout, which is best seen as part of a pullback/digestion that began two-and-a-half weeks ago, when the S&P's rebound rally peaked, confidence in an easy reopening swelled and stocks registered an array of overbought extremes.
Nothing about yesterday changed that set-up – most stocks retrenching from early-June highs, the cumulative effect of rising Covid cases weighing on cyclical/retail/travel stocks and the monster-cap Nasdaq leaders needing a rest after a rare upside streak.
Pro The whole world will avoid the USA like the plague because we have no leadership on the virus from the top. States are starting a civil war. Main St is dying not the Fed Main St. Restaurants are closing daily.
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Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »