A Market That Gets No Respect: Stocks Near All-Time Highs Despite Hand-Wringing
- Date: 15-Mar-2021
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
A Market That Gets No Respect: Stocks Near All-Time Highs Despite Hand-Wringing
Getty Images
Getty Images
Key Takeaways:
Busy week ahead as Fed prepares to meet and retail sales loom tomorrow
Nike
NKE
and FedEx
FDX
lead the list of key companies set to report this week
Volatility retreats, nearing lower end of recent range
We begin the week near record highs, and major indices climbed the proverbial “wall of worries” to get here. From most of the things being reported, you'd think the market was getting absolutely annihilated, but the more people worry, the better it gets.
The S&P 500 Index (SPX) managed a record high close Friday after posting an intraday record high of 3960 on Thursday. That peak represented a 6% gain from earlier this month when inflation worries helped drag things down.
Those concerns haven't gone away, obviously, and pre-market trading turned from positive to mixed as the open approached. But a “buy the dip” mentality and passage of fiscal stimulus appeared to bring things back last week.
It's also positive that the 10-year Treasury