The Strength of the Market is: Strong
Encouraging news from late-stage vaccine trials has raced stock markets to all-time highs. In the US alone, Coronavirus cases have hit 11 Million and a second wave seems to be taking hold. Even so, the prospect of an effective vaccine has investors optimistic of a faster-than-expected economic and health recovery. Economic news from last week was mostly positive:
•Jobless Claims - better than expected
•Small Business Optimism - in line with expectation
•Job Openings/Labor Turnover - in line with expectation
•Consumer Sentiment - worse than expected
Looking forward to this week, investors will be gathering insights on the economy from Housing, Jobs & Retail Sales reports, to name a few.
With stock markets hitting all-time highs, our price-trends and momentum research continues to show a fully strong signal for global stock markets.