Consumer confidence relatively judge the michigan consumers intimate data is a good guide. Lets break it down a different way. Current conditions, 85. 9. That is above expectations at 84. 9. This is what i was really looking for, expectations also ,oming in ahead of expectations but they are still below current conditions, 79. 2. They are not going down, which ethic is the really important thing, as we see the virus picking up. Alix and we didnt get stimulus, counterintuitive to what many thought would happen. Big tex stocks are lower on a stocks big tech are lower on a flurry of data. Now with us, mark st oeckle. Are you buying the dip . Tok i think people need keep it in perspective. The reports were good. I think what we are seeing today is skimming a little but of the froth out of the valuation adjustment. I think they are all very wellpositioned and very well performing companies, but lets also not forget weve had a big run up into these numbers. The interesting part is you look a
Maybe call it the ultimate catchup trade. If you missed the markets record rebound, fear not because we have three stocks that could be primed to pop later, tiktok you dont stop giving us news, that is. Theres a strange new suitor for the red hot social media app that our traders have our own take of who should put a ring on it so much to get through in the next hour, but let us begin at the beginning a brand new record close for the s p 500. This is by far the fastest bear market exit in history it has been just over 100 days since the benchmark index plunged with lows of the year. Need i remind you of the pandemic panic of march. Were up 55 since then. Its close today by the ever so slimmest of margins putting an official end to the bear market. Guy, the market acting like the pandemic induced lockdown and mass job losses simply never happened is this all, thank you, mr. Federal reserve . Of course it is y the Balance Sheet in february was 4 trillion, now howevering on the side of 7
Tweet earlier in the hour does suggest that you think these retailers are prepping us for numbers that are going to be tough to replicate. Yeah, i think that they have to, carl they all know that america was flush from the 1,200 check and they also know there is a lot of stay at home people trying to make their homes into an office and a home, and that thats largely passed now, that doesnt mean that you shouldnt buy these stocks because that money went to these essential retailers and now theyre stronger than ever, but i know that if you are if you are at walmart it does not pay to say this is going to continue same thing with home depot i say you wait, let them come down and recognize that these are just so good that you want to be in them. Particularly, say, if a lowes comes down, thats kind of attractive, they report tomorrow look, these are remarkable companies, but they are also given as remarkable companies are to humility and to a respect to the individual investor they dont wan
Consumer statement is breaking right now. Let us get the details with mike mckee. Little bit better news. Consumer sentiment is up a little bit from last month. The preliminary michigan numbers come in at 72. 8. There was an expectation that it would slip given everything that has been going on. We have seen an increase in expectations and the current level. Is 80 2882. 5 and that 82. 8 and better than what was expected. Level rises, and it had sharply declined last month but people are feeling better about the economy right now. Sales . Hat about retail we are still spending a lot in certain areas especially on ecommerce. Guy nice shoes. Alix thank you, i am glad somebody notices. Compared to last month it does not look as good. Mike the numbers did not come in as expected, but the trend is dead, a slowing during the month of july of 1. 2 after an eight point 4 rise the month before. 1. 9 down,mber at the retail control group, 1. 4 after. If you look at the june numbers, and retail sa
He boosted his ear and forecast by 24 , writing a fall in erp, adjusted risk premiums will be offset by a rise in bond yields. The combination will boost the end,o already 600 by years 3800 in 12 months time. This represents a significant increase driven by valuation. What do the technicals have to say about that . Joining me now is katie stockton, founder of fairlead strategies. Off of the highs now. What does that tell you about the next direction . Is flirting with that resistance. The level im watching is 3394, the intraday high from february. For a breakout to be decisive, we need to see a couple of closeouts above that level. Highs onct new positive shortterm momentum but also looking for momentum to falter before the end of the month. You have some overextended readings in some of , alsoternal measures sentiment. Basedrcentage of stocks on their 50day moving averages reaching levels often associated with pullbacks in the s p 500. At the same time, sentiment reaching exceedingly