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Nurse who hit patient on Northumbria hospital night shift suspended for one month
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Former Florida Supreme Court Chief Justice James Alderman died June 10
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Wall Street pundits struggle to explain stocks stumble
Vildana Hajric and Claire Ballentine
Apr 21, 2021 – 6.32am
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Up four weeks and six of the last seven, US stocks are doing something they haven’t done since March: fall on consecutive days. For the first time in a long time, Wall Street pundits found themselves on Tuesday (Wednesday AEST) trying to explain a weak market.
COVID-19 cases are surging around the world. Anxiety is swirling that new lockdowns could be afoot. Tension is rising between the US and Russia. Already stretched technical indicators are finally giving way.
Chris Grisanti, chief equity strategist at MAI Capital Management: “I would use this [opportunity] to buy those reopening stocks you missed the first time.”
Stumble in Stocks Lacks Easy Explanation for Wall Street Pundits
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Michigan s publicly-traded companies are riding the wave of a recent Wall Street rally, driven by strong corporate earnings and promising economic data.
In fact, public companies in the state are outperforming the market, shows an index tracked by David Sowerby, portfolio manager at Bloomfield Hills-based investment firm Ancora. According to an index of some 80 publicly-traded companies in the state, the average Michigan stock is up 18% year-to-date compared to 11% for the S&P 500.
And looking back to the end of September, he said, the average Michigan stock is up by about 50%.
Sowerby attributes the outsize performance to the large number of cyclical companies or, businesses that are sensitive to the economic cycle based in Michigan. Vehicle manufacturers are a prime example of cyclical stocks, and the automotive sector is one of the backbones of Michigan s economy, with three major automakers and a slew of parts suppliers. The performance of the financial sector, too,