In Like A Lion: Equities Look To Be Taking A Breather After Broad-Based Monday Rally

In Like A Lion: Equities Look To Be Taking A Breather After Broad-Based Monday Rally

There's a saying about the weather in March: It comes in like a lion and goes out like a lamb. While we don't know how the market will end the month, it started off with a roar. Stocks surged Monday as the 10-year Treasury yield seemed to be stabilizing and investor optimism about the vaccine rollout and coronavirus stimulus from Congress brightened the mood considerably from the selling pressure last week. In a sense, Monday's trading let investors have their cake and eat it too as equities tied to the economic recovery, those that have been stay-at-home stalwarts, and tech-related stocks that have been hot during the pandemic did well. The calmer 10-year yield also seemed to ease concerns about more-expensive corporate borrowing. This morning is starting off on a quieter note, which is perhaps to be expected after such a strong rally yesterday. There doesn't seem to be a strong urge to book profits. It just seems like investors maybe want to take a breather as the session gets going. One notable pocket of activity, though, is in Zoom (ZM). Its shares are up more than 7% in pre-market trading this morning, and that's after they surged nearly 10%