Democrats Are Lying Again
Shut It All Down
SCHUMER SHUTDOWN SALE: 74% Off VIP Memberships!
These Texts From VA's Dem AG Candidate Are Totally Insane
The Atlantic Idiotically Compares Charlie Kirk to George Floyd
Justice Kavanaugh's Would-Be Assassin Gets Light Sentence Because of His Trans Identity
Britain's Soft-on-Crime Policies Allowed the Manchester Synagogue Terror Attack to Happen
Has Anyone Asked the Archbishop If She Believes in God?
Dirty Hospitals Are to Blame for Superbug Deaths
The Train of Progress Must Not Be Derailed
Trump Ends the Green Scam — Now the Crying Caucus Is Out of...
Make Protecting Animals Great Again: The Trump Administration Is Ending Animal Cruelty
Hochu v. Mamdani: The Upcoming War Over NYC Tax Increases
More Government Control Over College Sports Is the Wrong Fix
Sean 'Diddy' Combs Sentenced to 4 Years, 2 Months for Prostitution-Related Crimes
OPINION

Where Is This Big Market Boom Coming From?

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Richard Drew

We’re off to a strong start that probably surprises even the biggest bulls and angers the staunchest bears. Of course, the bears are going to be frustrated for a long time, as they need the equivalent of two nuclear bombs to land on the stock market. Be that as it may, the big boom has come from corporate earnings, hence the hodgepodge of winners last week. 

Advertisement

Just as many had predicted or guessed that the market would struggle out of the gate, an equally large percentage of observers thought Energy stocks would rebound, buoyed by ugly earnings that would mark the end of a difficult stretch. Instead, there hasn’t been much difference between 2019 and 2020, except the latter looks stronger. This week, there is a dearth of economic data, so it’s all about more corporate earnings and speculation about something that will never happen from a media source that has never been right.

S&P 500 Index

+3.06%

 

Communication Services (XLC)

+5.69%

 

Consumer Discretionary (XLY)

+2.05%

 

Consumer Staples (XLP)

+1.33%

 

Energy (XLE)

 

-1.53%

Financials (XLF)

+0.81%

 

Health Care (XLV)

+2.58%

 

Industrials (XLI)

+3.61%

 

Materials (XLB)

 

-0.46%

Real Estate (XLRE)

+2.38%

 

Technology (XLK)

+5.95%

 

Utilities (XLU)

+3.31%

 

 

Early 2020 Winners

It’s all about earnings. Last week’s winners also gave hope for value seekers. CarMax (KMX) and Nielsen Holdings (NLSN) might find additional buyers, and former momentum darling Arista Networks (ANET) would need to do much more to attract the hot money crowd.

Advertisement

However, last week was all about those banks and their strong guidance based on the strong U.S. economy:

Perrigo Company plc (PRGO)

49.71

+9.31

+18.73%

Albemarle Corp (ALB)

72.10

+8.80

+12.21%

Morgan Stanley (MS)

52.21

+5.30

+10.15%

Mohawk Industries (MHK)

127.00

+12.70

+10.00%

McKesson Corp (MCK)

143.81

+12.52

+8.71%

CenturyLink (CTL)

12.99

+1.07

+8.24%

IPG Photonics (IPGP)

135.27

+10.68

+7.90%

Nielsen Holdings (NLSN)

19.98

+1.53

+7.66%

CarMax Inc. (KMX)

89.09

+6.59

+7.40%

International Flavors & Fragrances (IFF)

125.99

+8.89

+7.06%

Arista Networks Inc. (ANET)

207.46

+14.41

+6.95%

TransDigm Group Inc. (TDG)

595.47

+41.19

+6.92%

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement