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Invesco QQQ Trust (QQQ) are all green just before 12:30 PM EST.
The move higher Thursday prompted optimism from some analysts, who feel that this week’s action signals just a pullback in a continuing uptrend.
“This bull market ultimately has further to run,” said Keith Lerner, chief market strategist at Truist. “Investors who are underweight equities should look to average into the market weakness and become more aggressive.”
While most sectors suffered damage this week, some investors were more enthusiastic about the economy, championing reopening trades like airlines and cruise line operators. The optimism helped fuel American Airlines, United, and Delta over 2% higher, and boosted the
In addition, while Pfizer reported quarterly results that beat expectations and raised its 2021 guidance, the stock remained flat.
“Investors could be getting increasingly disappointed that stocks are not doing well in the face of fantastic earnings news,” Jim Paulsen, chief investment strategist at the Leuthold Group, told CNBC.
“The numbers were good but Wall Street response was neutral at best. When the best earnings growth since 2010 spawns a yawn it’s pretty clear that perfection is priced in,” Hilary Kramer, chief investment officer for Kramer Capital Research, wrote in an email Monday. “While there’s no seasonal sell signal flashing, there’s no immediate reason to buy either. This is a great opportunity to review your positions, make any adjustments and then retreat to the sidelines for the next few months.”
Invesco QQQ Trust (QQQ) is off on the day, as of noon EST.
Earnings are still on investors’ minds, and Berkshire Hathaway stock gained 1% after Warren Buffett’s enterprise said it captured a 20% increase in operating earnings and continued to repurchase significant portions of its own shares. Buffett also revealed that when he steps down, Greg Abel, vice chairman of all non-insurance operations, will take over the reigns. The move helped fuel the
Investors also championed reopening stocks, driving Disney and Royal Caribbean more than 1% higher apiece. The move helped the
Despite Friday’s stock decline, the S&P 500 managed to score its third straight month of gains in April, adding over 5% to the index as investors remain sanguine about the economic recovery process. The key benchmark is now up 11% for the year. Meanwhile, the Dow added about 2.7% last month, while the Nasdaq Composite soared 5.4% in April.
Stock ETFs Tread Water Ahead of FOMC Minutes Release April 7, 2021
Stocks and index ETFs are trading near the prior day’s highs Wednesday, as investors prepare to receive the breakdown from the Federal Reserve’s last policy meeting later this afternoon.
In another narrow-range day, the Dow Jones Industrial Average traded slightly lower, while the S&P 500 added 0.1% and the Nasdaq Composite slipped 0.1%.
Major stock ETFs are echoing stock indexes on Wednesday. The
just after 11:45 AM EST.
Travel and leisure stocks and ETFs such as those related to airlines and cruise lines continued to be favored by investors. Carnival climbed 3.6%, while Royal Caribbean and Norwegian Cruise Line advanced more than 2% each, while the