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Stock market live updates: Dow clinches best August since 1984, tech leads, Tesla surges

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Leon Cooperman on the Fed’s coronavirus response and a “dramatic expansion of market valuations”: “Frankly, the president should kiss the chairman on all four cheeks in my opinion.”

Tech stocks rose but the Dow slipped on the final day of August. Tesla and Apple both climbed amid heavy trading volume in the first session since the companies' respective stock splits. The Dow and S&P 500 both locked in their best August in more than 30 years.The Dow fell 224 points, or 0.78%, on Monday, breaking a three-day win streak with its worst daily performance since July 30positive month in a row for the first time since its 10-month streak ending January 2018.

Keith Lerner, chief market strategist at SunTrust/Truist Advisory, pointed out the S&P 500 was on pace for just its 27five-month winning streak since 1950. In 96% of those previous instances, the S&P 500 has sported a gain the following year. "This is consistent with other studies … that provide evidence that strong momentum in the first stage of a bull market is common and typically a good longer-term sign," said Lerner.

 

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What kind of nuttery is this?

Exuberance 🌷

This guy shorted his portfolio that’s what he is saying

Did anyone say irrational exuberance? 🤔

just signs of euphoria? Think it's pretty apparent but what do I know

Love that he ends with I don't know if I'm a fascist or not

Hey Leon remember that one time where you couldn’t decide whether to vote for a race baiting fascist or a centrist politician?

I really love folks that speak from the heart. morelee

LOVE this guy - a voice of reason in a sea of irrational exuberance! DUMB MONEY pays when the party is over. Anyone buying into this market at these valuations is PAYING FOR THE PARTY.

Funny how CNBS still think the term sell in may go away is a thing it hasn't been a thing in 5 years now. This is why CNBS is so bad at their job they are stupid ppl on these shows.

Maybe he will, but first his Sponsor, Putin (who may now give permission for DT to kiss someone else's cheeks, after their very successful Bounty Agreement (where our dog in that hunt got much more than bones!)!

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