Leon Cooperman on the Fed’s coronavirus response and a “dramatic expansion of market valuations”: “Frankly, the president should kiss the chairman on all four cheeks in my opinion.”
Tech stocks rose but the Dow slipped on the final day of August. Tesla and Apple both climbed amid heavy trading volume in the first session since the companies' respective stock splits. The Dow and S&P 500 both locked in their best August in more than 30 years.The Dow fell 224 points, or 0.78%, on Monday, breaking a three-day win streak with its worst daily performance since July 30positive month in a row for the first time since its 10-month streak ending January 2018.
Keith Lerner, chief market strategist at SunTrust/Truist Advisory, pointed out the S&P 500 was on pace for just its 27five-month winning streak since 1950. In 96% of those previous instances, the S&P 500 has sported a gain the following year. "This is consistent with other studies … that provide evidence that strong momentum in the first stage of a bull market is common and typically a good longer-term sign," said Lerner.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market live updates: Stocks mostly lower, new Dow additions, best August since 1984Both the S&P 500 and the Dow Jones Industrial Average fell early into the month’s final trading session. Follow along with the latest stock market updates here:
Read more »
An ‘extreme’ August on the stock market might be telling us something about the November electionIt has been a pretty bullish August for the stock market. That tends to work well in an incumbent U.S. President’s favor, but our call of the day says a...
Read more »
Stock futures rise as Wall Street wraps up its best August in more than 30 yearsU.S. stock futures rose on Sunday night as traders were set to end the market's best August performance since the 1980s.
Read more »
As Dow undergoes makeover, traders see one stock as best catch-up play to the rallyWith the Dow shaking up its constituents Monday, Craig Johnson of Piper Sandler and Gina Sanchez of Chantico Global agree that one of its beaten-down stocks could be poised to play catch-up.
Read more »
The stock market is about to enter its worst month of the year after a historic August - but that doesn't mean investors should sell stock, LPL says | Markets InsiderThe stock market is about to enter its worst month of the year after a historic August — but that doesn't mean investors should sell stock, LPL says
Read more »
Dow, S&P 500 cap off best August in 36 years as tech rally offsets broad weakness - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Read more »