It’s a solid session that really informs on a more determined effort to move away from an over-reliance on growth.
The biggest winners are General Electric (GE) and Boeing (BA), and there a fair amount of additional beaten down names getting action.
The Industrials act fantastic and continue their three months outperformance.
The University of Michigan's consumer sentiment rose to 81.2 in October from 80.4 in September and remains way below pre-coronavirus levels.
To see the chart, click here.
Current conditions dropped to 84.9 from 87.8 employment growth slows, the Covid-19 infections are rising and there is no stimulus package in sight.
Consumer Sentiment | October | September |
Sentiment | 81.2 | 80.4 |
Expectations | 78.8 | 75.6 |
Present | 84.9 | 87.8 |
There is still an air of caution, as earning season is just getting underway, and we are less than a month before the election outcome.
Overall, I am very encouraged by the market. Have a great weekend.