The stock market traded in a tight range for much of Tuesday’s session before closing lower as traders await upcoming comments from Fed Chairman Powell and Friday’s jobs report. Losses in the Technology and Consumer Discretionary sectors weighed on sentiment with Zoom Video Communications (ZM) falling 9% despite reporting earnings that topped Wall Street’s expectations.The Russell 2000...
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Continue reading >>The stock market kept its current momentum with three of the four major averages setting fresh all-time highs. The bullish sentiment came on the heels of the president signing into law a $1.9 trillion coronavirus relief package, which includes provisions of $1,400 stimulus checks to most Americans. Also, relative stability in bond rates, a continued ramp-up in vaccinations and increasing optimism...
Continue reading >>With Biden heading to the White House, cannabis stocks are picking up a good deal of momentum including Aurora Cannabis (ACB). In addition, Biden’s pick for health and human services secretary, Xavier Becerra, who supports legalization. “Just as we allow alcohol to be sold, we’ve come into the 21st century and announced that it’s better to regulate MJ than criminalize it. The federal...
Continue reading >>The stock market showed continued strength on Wednesday after the House Democrats voted to pass a $1.9 trillion stimulus package with President Biden expected to sign the bill on Friday. Better-than-expected economic news also helped bullish sentiment after consumer prices increased less than expected in February, making it appear that inflation remains non-threatening to the Fed. The Russell...
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