Stocks Down 1.5% on Week; Light at End of Tunnel on Virus

Equity markets struggled this week with the S&P 500 opening at 3,803.14 on Monday morning and closing 3,768.25 on Friday afternoon. The doldrums may partially reflect the fact that Initial Jobless Claims posted their biggest weekly gain since the pandemic hit markets in March. For those of you with short positions, we wouldn’t get too excited. While a healthy pullback and chop are expected by all three of our research departments, we also expect that this will be shallow and short. For lo...

Equity markets struggled this week with the S&P 500 opening at 3,803.14 on Monday morning and closing 3,768.25 on Friday afternoon. The doldrums may partially reflect the fact that Initial Jobless Claims posted their biggest weekly gain since the pandemic hit markets in March. For those of you with short positions, we wouldn’t get too excited. While a healthy pullback and chop are expected by all three of our research departments, we also expect that this will be shallow and short. For lo...

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