TWELVE o'clock TUESDAY – Stock Market Report
by Robert Holman | The DefensiveAdvisor.com | November 17, 2020
MARKET BULLISH … Rating of 7 (0 - 4 is bearish, 5 is neutral, 6 - 10 is bullish).
I can't think of a single thing to say that different from what I said last week, so here goes. The election is over, a virus vaccine appears imminent, the economy is looks really good, the Fed is backing away from interest rate changes (for a while), and the stock market had a very good day yesterday.
So, what’s next? Will a stimulus package be forthcoming - a) Probably, b) Maybe soon, or c) as late as mid-February? Two weeks ago, there was widespread agreement it was needed, but now I wonder --- to what extent will majority opinion change with emergence of an effective new vaccine candidate? Perhaps a stimulus package is not as necessary now? Would the market throw a little temper tantrum?
Maybe valuations are high in some areas (stocks that benefit from working at home, etc.), but in general, they seem to reflect overall expectations of the future economy, earnings and interest rates.
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