Billionaire Steven Cohen chooses these 3 “Strong Buy” actions
Last week, the NASDAQ slipped below 13,200, losing net from its all-time high, reached earlier this month, at 6.4%. If this trend continues, the index will slide into correction territory, a loss of 10% from its peak. So what exactly is going on? Basically, these are mixed signals. The COVID-19 pandemic is starting to fade and the economy is starting to reopen – bright spots that should boost markets. But an economic recovery leads to inflationary pressures: more people who work means more consumers with money in their pockets and the massive stimulus bills passed in recent months – and the bill currently before Congress, which totals $ 1.9 trillion – have put extra money in wallets people and cash in the economy. There is pent-up demand there, and people with money to spend, and both factors will help drive up the prices. We can see an effect of all of this in the bond market, where the 10-year Treasury bill is down 1.4%, near a one-year high, and it has been trending higher in recent weeks. It may be a case of jumping the gun, however, as Federal Reserve Chairman Jerome Powell said in Senate testimony that he has no plans to hike interest rates. In other words, these are confusing times. For those who feel lost in all the market fog, investment gurus can offer a sense of clarity. No one more while billionaire Steven …
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