This week’s Bespoke Report newsletter is now available for members.
Futures were already set for a positive start to the week on Monday morning after Fed Chair Jerome Powell told Scott Pelley in a 60 Minutes interview that, “There’s really no limit to what we can do.” But then shortly before the open, vaccine maker Moderna (MRNA) released some positive but limited data related to its COVID vaccine. That put the rally into overdrive. With those early gains, it seemed like it was going to be a good week for equities (which it was), but from that initial surge in the first 20 minutes of trading on Monday until Friday afternoon, there was a lot of flopping around in between. The week was so sideways, in fact, that a half-hour before the close on Friday, the S&P 500 was right at the same levels it was at 20 minutes after the open on Monday! In the last half hour of trading, though, a baby rally took the market out at its highs for the day.
In this week’s Bespoke Report we review some of the conflicting economic data this week and also look at what’s ahead for the market after the major rally off the March lows.
In this week’s Bespoke Report we review some of the conflicting economic data this week and also look at what’s ahead for the market after the major rally off the March lows. To read this week’s report and access everything else Bespoke’s research platform has to offer, start a two-week free trial to one of our three membership levels. You won’t be disappointed!