Steve Sosnick, Interactive Brokers’ chief strategist, discusses how the stay-at-home stocks that led the market higher may also lead it lower.
As a late summer surge in Europe shows, the virus is having a corrosive impact on economic growth.
Is the US next as we head into the winter flu season?
Photo Credit: Michel Craig via Flickr Creative Commons
At the beginning of the week, stocks surged, anticipating fourth-quarter corporate updates from tech companies and the Federal Reserve’s two-day policy meeting; this led to the S&P 500 Index reaching a new record high on Monday.
Stocks are pricey but have a strong tailwind behind them.
Management reported earnings in May and I finally heard a tone that makes me think they are on the right track.
Apple’s market cap takes a $65.8 billion hit after reporting disappointing earnings.
