This stock market rally has more to run and investors are under-pricing the scale of the world’s C-19 coronavirus chaos recovery
“While the last four months have been exceptional, we think that this cycle has been, and will be, more ‘normal’ than appreciated,” said Morgan Stanley’s chief cross-asset strategist in a note Sunday
“We think that stocks and credit will be modestly higher and tighter over the next 12 months,” he said. The bank forecasts the S&P 500 index at 3,350 points and benchmark US 10-year yields at 1.3% by mid-2021.
Monday, the major US stock market indexes finished at: DJIA +157.62 at 25763.18, NAS Comp +137.21 at 9726.04, S&P 500 +25.28 at 3066.46
Volume: Trade on the NYSE came in at 1.2-B/shares exchanged
- NAS Comp +8.4% YTD
- S&P 500 -5.1% YTD
- DJIA -9.7% YTD
- Russell 2000 -14.9% YTD
HeffX-LTN’s overall technical outlook is Bullish across the board.
Looking Ahead: Investors will receive Retail Sales for May, Capacity Utilization and Industrial Production for May, Business Inventories for May, and the NAHB Housing Market Index for June. In addition, Fed Chairman Powell will provide his semi-annual monetary policy testimony to Congress.
Have a healthy day, Keep the Faith!