Wall St. looks 'pretty good' at record highs -Colas
DataTrek Research co-founder Nick Colas says Wall Street's record high looks 'pretty good' because financials and 'old school' tech like Apple and Microsoft are leading the rally, with improved sentiment showing up in other global assets as well.
The Wall Street veteran doesn't think the market is running ahead of itself but believes it needs the conclusion of the U.S.-China trade war to be clear about what direction it and the overall economy will go in next year.
Wall Street's main indexes closed lower on Monday as concerns about new lockdowns in Europe and possible delays in fresh stimulus from Congress raised fears the U.S. economy faces a longer road to recovery than previously hoped for. Fred Katayama reports.
Wall Street's main indexes hit their lowest in nearly seven weeks Monday as concerns about fresh coronavirus-driven lockdowns and the inability of Congress to agree on more fiscal stimulus raised fears about another hit to the domestic economy. Fred Katayama reports.
Business Insider reports that US stocks are on course to close lower for a third consecutive week. The S&P 500 has lost nearly 9% since early September's record high. That decline was mainly driven by losses in the technology sector. But Goldman Sachs, Wells Fargo and Deutsche Bank are upbeat the US stock market sell-off is mostly over. Goldman Sachs kept its end-of year S&P 500 target to 3,600 by year end.