Two Weeks Since the Low

The stock market is having a very good day so far. The S&P 500 is currently up more than 5%. It’s now been two weeks since the market made its low.

There were some signs, and I don’t want to overstate this, that the virus may be peaking in different parts of the world. Of course, we’re a long way from victory. This could be the toughest week.

The yield on the two-year Treasury is all the way up to 0.25%. I know that’s puny but it’s the highest yield in a week. Ross Stores (ROST) is up 16% today.

Homebuilding stocks are doing especially well today. Today’s rally is pretty broad, which is nice to see. The minnows are joining in, not just the big fish. The S&P 500 needs to close above 2,630.07 to reach a post-low high.

Posted by on April 6th, 2020 at 1:06 pm


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