© Reuters. Could Stocks Break 4,200 Soon?
The S&P 500 (SPY) are flirting with 4,200 once again. Gladly it is no longer just large caps and usual tech suspects leading the way. Indeed the rally is broadening out to smaller stocks and growthier stocks. Read on below to find out why….(Please enjoy this updated version of my weekly commentary from the Reitmeister Total Return newsletter).
There were some very short lived flare ups last week with very little staying power. The first one I previewed above. That being the shift to defensive investing last week as worldwide Coronavirus cases spiked to a new high. And yes, there were modest signs of an increase in the States.
This had some investors moving towards a Risk Off investing approach with the most conservative names doing well. And the most aggressive names doing the worst. (And many of the names that benefit from the Coronavirus fading away also took it on the chin like restaurants, airlines, cruise lines et).
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