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“The first one gets the oyster, the second gets the shell.” – Andrew Carnegie
US markets are looking to make it four days in a row of gains, but we still have to get through the FOMC later today. We just got the release of August Retail Sales, and the headline number came in weaker than forecasts (+0.6% vs 1.0%) as the impact of expiring $600 UI benefits works its way into the system.
Be sure to check out today’s Morning Lineup for a rundown of the latest stock-specific news of note, market performance in the US and Europe, trends related to the COVID-19 outbreak, and much more.
The snapshot below is from our Trend Analyzer screen of international regional ETFs. Looking through the various ETFs listed, you may be asking yourself, what correction? Of the nearly 20 ETFs listed, all but one is up over 2% in the last five trading days, and all but four are at overbought levels. The only ETF currently not above its 50-DMA is Latin America (ILF).