Some Volatility Has Come Back to the Market

The stock market is up so far this morning. As I write this, the S&P 500 has been as high as 3,865.33. The market has gotten noticeably more volatile recently. Over the last eight days, the S&P 500 has closed higher or lower by 1% or more than six times. In the 12 days prior to that, it didn’t happen once.

Today’s trading is interesting because the cyclicals are leading the charge with the exception of energy stocks. The energy sector is currently the only sector in the red.

On our Buy List, Disney (DIS) is up over 3% and it’s close to another new high.

We also had new highs from AFLAC (AFL), Miller (MLR), Silgan (SLGN) and Middleby (MIDD). I also have to shine a light on Fiserv (FISV). The stock got hit hard during last year’s panic, but it’s picked up over the last month.

Ross Stores (ROST) said it plans to open 60 stores this year. The company had already said that in its earnings report, but they made it official in a press release today.

Ross Stores recently opened four Ross Dress for Less® (“Ross”) and three dd’s DISCOUNTS® stores across five different states in February and March. These new locations are part of the Company’s plans to add approximately 60 new stores – 40 Ross and 20 dd’s DISCOUNTS locations – during fiscal 2021.

“These recent openings reflect our ongoing plans to continue the expansion of our two chains,” said Gregg McGillis, Group Executive Vice President, Property Development. “We now operate a total of 1,866 Ross Dress for Less and dd’s DISCOUNTS locations across 40 states, the District of Columbia, and Guam. As we look out over the long-term, we remain confident that Ross can grow to 2,400 locations and dd’s DISCOUNTS can become a chain of 600 stores given consumers’ ongoing focus on value and convenience.”

On Friday, shares of Tesla got as low as $539 per share. That’s down from $900 in late January.

Posted by on March 8th, 2021 at 10:54 am


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