Getting Closer to an All-Time High

The S&P 500 is up again today. We’re not that far from an all-time high. This morning, the index got as high as 3,362. The all-time intra-day peak is 3,393 from February 19. That’s almost exactly six months ago.

Goldman Sachs made news this morning by raising its growth estimate for next year to 6.2%. The Wall Street investment house said it sees a vaccine being approved before the end of the year. Goldman sees unemployment falling to 6.2% by the end of 2021. I hope they’re right.

Shares of Stepan (SCL) are up to a new high today. We now have a 13% gain in this stock. A few weeks ago, the chemical company reported earnings of $1.65 per share. Expectations were for $1.20 per share.

Posted by on August 10th, 2020 at 10:35 am


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