We got a whole lot of choppy action out of the broad market last week. We saw the market look very tired Friday, squeaking out it's fourth straight week of gains. Friday's action was a bit concerning to me, I would not be surprised to see stocks continue to pull in early on in the week.
I will continue to echo the sentiment that this is one of the most headline driven times with so much macro geo-political risk. We're just over two weeks away from the election so I am anticipating to see an increase in volatility entering that event. All eyes continue to be on the progression in the Stimulus deal. Sunday night, Speaker Pelosi set a deadline of Tuesday on whether or not we will see a deal done before the election. They will vote on that potential bill Wednesday and that news will take center stage. Corona cases across the country have upticked to the highest levels since early July so we'll see if the market starts caring about that headline again as well.
Earnings season really gets under way this week with just under 300 companies reporting this week. Should be a very interesting week with heavy hitters like PG, SNAP, TSLA, NFLX, INTC as well as some airlines later on in the week. The best winners of the next quarter will be the stocks that act best on their earnings reports and that's how the big winners like SAIL and PINS this quarter are found. So, it's always most important to be on top of the research game these next 6 weeks or so.
|
|
