Wednesday, November 25th |
Good Morning The equities market continued its historic rally on Tuesday adding another 1.5% for most indices. The S&P 500 and Dow Jones Industrial Average are both trading firmly in new all-time high territory with the tech-heavy NASDAQ close behind. In broad terms, the market is still in a rotation from highly-valued tech names for more reasonably priced alternatives.
As bullish as the outlook is, traders should be wary of these new highs right before the holiday. Holiday-week trading volume is always light making any market move suspicious. Longer-term, however, there is a growing case for rising market value in 2021. Topping the list is economic rebound and earnings. The economic rebound is still going strong and the outlook for earnings gets brighter every day. Looking to the 4th quarter, there is a high probability S&P earnings will exit the pandemic recession and return to YOY growth.
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The Early Bird Stock Of The Day DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States. The company provides users with daily sports, sports betting, and iGaming opportunities. It is also involved in the design and development of sports betting and casino gaming platform software for online and retail sportsbook, and casino gaming products. The company distributes its product offerings through various channels, including traditional websites, direct app downloads, and direct-to-consumer digital platforms. DraftKings Inc. is headquartered in Boston, Massachusetts. | | |
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