FILE PHOTO: Pedestrians walk past the New York Stock Exchange as the building opens for the first time since March while the outbreak of the coronavirus disease continues in the Manhattan borough of New York, U.S., May 26, 2020. REUTERS/Lucas Jackson
Yet better-than-expected readings on U.S. employment and other indicators have money managers thinking about lightening up on the stocks driving the rally in favor of sectors such as financials and energy. A sustained bounce in these economically sensitive areas could be an encouraging signal for the nascent recovery, investors said.
Phil Orlando, chief equity market strategist at Federated Hermes, has been shifting away from technology and healthcare stocks and into financial and energy companies. Technology stocks in the S&P 500 are up nearly 30% since the start of April, while finanical stocks are up 20%. “We’ve always said that what started with the virus will end with the virus,” said Katie Nixon, chief investment officer at Northern Trust Wealth Management.
A fake economy based on printed money doled out to billionaires who use it to buy stocks. No job creation, no sustainable plans for effective product and service innovation, no urban planning, no regeneration of dead cities, no green technology investment. Fictitious market.
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did you miss the part where Powell blinked and said he'd bailout Wall st for the next 2 years because the economy is so screwed they can't raise interest rates and they can't earn money the old fashioned way ? if trading fees equal laundering ?
I hope all of themlose every penny those greedyfucks
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