Broad-based rally, strong economic data leave traders questioning how much further stocks can run

CNBC2021-04-07

Is this as good as it gets? It seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...

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Lty1098
2021-04-07
Lty1098
Like n comment pls
mandyc
2021-04-07
mandyc
...
- Jewoo:
  ._.
Moneyface
2021-04-07
Moneyface
Hi
- Jweikit:
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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroad-based rally, strong economic data leave traders questioning how much further stocks can run\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":".SPX","symbol_name":"S&P 500 Index","start_time":0,"source_url":"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html","article_id":"1133711419","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1133711419","pubTimestamp":1617795284,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad ral","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"translate_title":"全面反弹，强劲的经济数据让交易员质疑股市还能走多远","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9},"content_text":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust across the board.Nonfarm payrolls.  ISM Manufacturing. ISM Services. Consumer Confidence. All much better than expected.\nEven the often-dour folks at the International Monetary Fund are sounding more optimistic.  They raised their global gross domestic product forecast to 6%, from 5.5% in January.\nNot surprisingly, investors are euphoric but increasingly cautious.\n“I think the market is priced for perfection,” Kevin Nicholson from Riverfront Investment said on CNBC.  “It’s priced such that it wants to make sure that the rollout rolls out smoothly, we continue to get vaccines done, we reopen the economy and that we have a good, strong earnings season. And all of those things so far seem to be on track.”\nNot only are major averages at new highs, but other market internals, like the number of stocks advancing versus those declining, are also flashing bullish signals.\nCompanies have responded to the euphoria in a predictable way: with more stock.\nEquity issuance is at a record high. Goldman Sachs’ David Kostin estimates corporate America raised $116 billion in new capital in the first quarter, spread out between 226 SPACs and 65 IPOs. And that’s not including secondary issues.\nEverything’s up!\nLittle wonder investors are on a buying spree.\nThe large-cap S&P 500 is at a new high, and the small-cap Russell 2000 is only 3% from its new high.\nGrowth (IVW) is at a new high, but so is Value (IVE).\nLow-volatility stocks (typically utilities and consumer staples) are at a new high (SPLV) but high-volatility stocks are only 1% from a new high as well (SPHB).\nMany of the larger work-from-home stocks, derided a couple months ago as 2020 relics, are also at new highs, including Home Depot,Lowe’s,Target,Sherwin-Williams and Masco.\nMany mega-cap tech stocks, which were clobbered in mid-February on concerns about higher rates, are also back at or near new highs, including Microsoft,Alphabet,Facebook,Texas Instruments and Lam Research.\nMost travel and leisure stocks, which have been on a roller coaster ride for two months depending on whether the vaccine and virus news has seemed optimistic or pessimistic, are once again within 5% of their old highs, including Avis,Delta,Carnival Cruise Lines,Marriott and Visa.\nHow much more growth can we reasonably expect?\nAnd yet there are already signs that growth is about as strong as it can be expected to be.\nDeutsche Bank’s chief strategist Binky Chadha has noted a strong correlation between the S&P 500 and certain key economic indicators, particularly the ISM Manufacturing Index, a proxy for U.S. growth, which recently hit a four-decade high.\nChadha noted that the ISM tends to peak around 10 months to 11 months after a recession, very close to where we are now. He expects the ISM — and markets — to peak fairly soon:  “As growth peaks over the next 3 months, we expect discretionary investors to pare their positioning from extremely elevated levels, and see retail investors as unlikely to buy the dip.”\nHe expects a pullback of 6% to 10% in stocks as growth peaks over the next three months.\nStill, Covid is such a unique situation that most on Wall Street are still not quite sure if the usual rules will apply to this Black Swan event.\n“This is not a normal business cycle, and I don’t know if the rules of thumbs that applied in the past will necessarily hold,” Jack Miller, head of trading at Baird, told me.\nThe next catalyst: guidance\nWhat will make or break the markets in the coming months? While the course of the vaccine rollout and the efficacy of the virus against variants are the main macro issue, most strategists are very clear on the main short-term catalyst: earnings guidance.\nBarclays analyst Julian Mitchell reflects the opinion of most strategists: “We expect most companies that have given 2021 guidance to raise it,” he said in a recent note.\nIt’s not just raised guidance analysts and strategists are expecting. They wantmoreguidance.\n“Last year, Covid was used an excuse to stop providing guidance,” Miller told me. “You can’t use that excuse anymore. We should have more visibility now.”\nThe implication: CEOs who continue to decline to provide any guidance will likely face push-back from investors.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":341148728,"gmtCreate":1617797712764,"gmtModify":1634296463946,"author":{"id":"3573201360768736","authorId":"3573201360768736","authorIdStr":"3573201360768736","name":"Lty1098","avatar":"https://static.tigerbbs.com/0123641e5b1e8993162711702dcb0f22","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573201360768736"},"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/341148728","repostId":1133711419,"repostType":4,"repost":{"id":"1133711419","pubTimestamp":1617795284,"share":"https://www.laohu8.com/m/news/1133711419?lang=&edition=full","pubTime":"2021-04-07 19:34","market":"us","language":"en","title":"Broad-based rally, strong economic data leave traders questioning how much further stocks can run","url":"https://stock-news.laohu8.com/highlight/detail?id=1133711419","media":"CNBC","summary":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad ral","content":"<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Broad-based rally, strong economic data leave traders questioning how much further stocks can run</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroad-based rally, strong economic data leave traders questioning how much further stocks can run\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1133711419","content_text":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust across the board.Nonfarm payrolls.  ISM Manufacturing. ISM Services. Consumer Confidence. All much better than expected.\nEven the often-dour folks at the International Monetary Fund are sounding more optimistic.  They raised their global gross domestic product forecast to 6%, from 5.5% in January.\nNot surprisingly, investors are euphoric but increasingly cautious.\n“I think the market is priced for perfection,” Kevin Nicholson from Riverfront Investment said on CNBC.  “It’s priced such that it wants to make sure that the rollout rolls out smoothly, we continue to get vaccines done, we reopen the economy and that we have a good, strong earnings season. And all of those things so far seem to be on track.”\nNot only are major averages at new highs, but other market internals, like the number of stocks advancing versus those declining, are also flashing bullish signals.\nCompanies have responded to the euphoria in a predictable way: with more stock.\nEquity issuance is at a record high. Goldman Sachs’ David Kostin estimates corporate America raised $116 billion in new capital in the first quarter, spread out between 226 SPACs and 65 IPOs. And that’s not including secondary issues.\nEverything’s up!\nLittle wonder investors are on a buying spree.\nThe large-cap S&P 500 is at a new high, and the small-cap Russell 2000 is only 3% from its new high.\nGrowth (IVW) is at a new high, but so is Value (IVE).\nLow-volatility stocks (typically utilities and consumer staples) are at a new high (SPLV) but high-volatility stocks are only 1% from a new high as well (SPHB).\nMany of the larger work-from-home stocks, derided a couple months ago as 2020 relics, are also at new highs, including Home Depot,Lowe’s,Target,Sherwin-Williams and Masco.\nMany mega-cap tech stocks, which were clobbered in mid-February on concerns about higher rates, are also back at or near new highs, including Microsoft,Alphabet,Facebook,Texas Instruments and Lam Research.\nMost travel and leisure stocks, which have been on a roller coaster ride for two months depending on whether the vaccine and virus news has seemed optimistic or pessimistic, are once again within 5% of their old highs, including Avis,Delta,Carnival Cruise Lines,Marriott and Visa.\nHow much more growth can we reasonably expect?\nAnd yet there are already signs that growth is about as strong as it can be expected to be.\nDeutsche Bank’s chief strategist Binky Chadha has noted a strong correlation between the S&P 500 and certain key economic indicators, particularly the ISM Manufacturing Index, a proxy for U.S. growth, which recently hit a four-decade high.\nChadha noted that the ISM tends to peak around 10 months to 11 months after a recession, very close to where we are now. He expects the ISM — and markets — to peak fairly soon:  “As growth peaks over the next 3 months, we expect discretionary investors to pare their positioning from extremely elevated levels, and see retail investors as unlikely to buy the dip.”\nHe expects a pullback of 6% to 10% in stocks as growth peaks over the next three months.\nStill, Covid is such a unique situation that most on Wall Street are still not quite sure if the usual rules will apply to this Black Swan event.\n“This is not a normal business cycle, and I don’t know if the rules of thumbs that applied in the past will necessarily hold,” Jack Miller, head of trading at Baird, told me.\nThe next catalyst: guidance\nWhat will make or break the markets in the coming months? While the course of the vaccine rollout and the efficacy of the virus against variants are the main macro issue, most strategists are very clear on the main short-term catalyst: earnings guidance.\nBarclays analyst Julian Mitchell reflects the opinion of most strategists: “We expect most companies that have given 2021 guidance to raise it,” he said in a recent note.\nIt’s not just raised guidance analysts and strategists are expecting. They wantmoreguidance.\n“Last year, Covid was used an excuse to stop providing guidance,” Miller told me. “You can’t use that excuse anymore. We should have more visibility now.”\nThe implication: CEOs who continue to decline to provide any guidance will likely face push-back from investors.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":341153558,"gmtCreate":1617796367274,"gmtModify":1634296471551,"author":{"id":"3573360226468507","authorId":"3573360226468507","authorIdStr":"3573360226468507","name":"mandyc","avatar":"https://static.tigerbbs.com/539981f1200069269c04d3e7d42c27e0","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3573360226468507"},"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/341153558","repostId":1133711419,"repostType":4,"repost":{"id":"1133711419","pubTimestamp":1617795284,"share":"https://www.laohu8.com/m/news/1133711419?lang=&edition=full","pubTime":"2021-04-07 19:34","market":"us","language":"en","title":"Broad-based rally, strong economic data leave traders questioning how much further stocks can run","url":"https://stock-news.laohu8.com/highlight/detail?id=1133711419","media":"CNBC","summary":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad ral","content":"<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Broad-based rally, strong economic data leave traders questioning how much further stocks can run</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroad-based rally, strong economic data leave traders questioning how much further stocks can run\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1133711419","content_text":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust across the board.Nonfarm payrolls.  ISM Manufacturing. ISM Services. Consumer Confidence. All much better than expected.\nEven the often-dour folks at the International Monetary Fund are sounding more optimistic.  They raised their global gross domestic product forecast to 6%, from 5.5% in January.\nNot surprisingly, investors are euphoric but increasingly cautious.\n“I think the market is priced for perfection,” Kevin Nicholson from Riverfront Investment said on CNBC.  “It’s priced such that it wants to make sure that the rollout rolls out smoothly, we continue to get vaccines done, we reopen the economy and that we have a good, strong earnings season. And all of those things so far seem to be on track.”\nNot only are major averages at new highs, but other market internals, like the number of stocks advancing versus those declining, are also flashing bullish signals.\nCompanies have responded to the euphoria in a predictable way: with more stock.\nEquity issuance is at a record high. Goldman Sachs’ David Kostin estimates corporate America raised $116 billion in new capital in the first quarter, spread out between 226 SPACs and 65 IPOs. And that’s not including secondary issues.\nEverything’s up!\nLittle wonder investors are on a buying spree.\nThe large-cap S&P 500 is at a new high, and the small-cap Russell 2000 is only 3% from its new high.\nGrowth (IVW) is at a new high, but so is Value (IVE).\nLow-volatility stocks (typically utilities and consumer staples) are at a new high (SPLV) but high-volatility stocks are only 1% from a new high as well (SPHB).\nMany of the larger work-from-home stocks, derided a couple months ago as 2020 relics, are also at new highs, including Home Depot,Lowe’s,Target,Sherwin-Williams and Masco.\nMany mega-cap tech stocks, which were clobbered in mid-February on concerns about higher rates, are also back at or near new highs, including Microsoft,Alphabet,Facebook,Texas Instruments and Lam Research.\nMost travel and leisure stocks, which have been on a roller coaster ride for two months depending on whether the vaccine and virus news has seemed optimistic or pessimistic, are once again within 5% of their old highs, including Avis,Delta,Carnival Cruise Lines,Marriott and Visa.\nHow much more growth can we reasonably expect?\nAnd yet there are already signs that growth is about as strong as it can be expected to be.\nDeutsche Bank’s chief strategist Binky Chadha has noted a strong correlation between the S&P 500 and certain key economic indicators, particularly the ISM Manufacturing Index, a proxy for U.S. growth, which recently hit a four-decade high.\nChadha noted that the ISM tends to peak around 10 months to 11 months after a recession, very close to where we are now. He expects the ISM — and markets — to peak fairly soon:  “As growth peaks over the next 3 months, we expect discretionary investors to pare their positioning from extremely elevated levels, and see retail investors as unlikely to buy the dip.”\nHe expects a pullback of 6% to 10% in stocks as growth peaks over the next three months.\nStill, Covid is such a unique situation that most on Wall Street are still not quite sure if the usual rules will apply to this Black Swan event.\n“This is not a normal business cycle, and I don’t know if the rules of thumbs that applied in the past will necessarily hold,” Jack Miller, head of trading at Baird, told me.\nThe next catalyst: guidance\nWhat will make or break the markets in the coming months? While the course of the vaccine rollout and the efficacy of the virus against variants are the main macro issue, most strategists are very clear on the main short-term catalyst: earnings guidance.\nBarclays analyst Julian Mitchell reflects the opinion of most strategists: “We expect most companies that have given 2021 guidance to raise it,” he said in a recent note.\nIt’s not just raised guidance analysts and strategists are expecting. They wantmoreguidance.\n“Last year, Covid was used an excuse to stop providing guidance,” Miller told me. “You can’t use that excuse anymore. We should have more visibility now.”\nThe implication: CEOs who continue to decline to provide any guidance will likely face push-back from investors.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3978858,"gmtCreate":1617796469778,"gmtModify":1635742711338,"authorId":3578211149235322,"author":{"id":3578211149235322,"authorId":3578211149235322,"name":"Jewoo","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":341153558,"type":1,"supId":0,"prevId":0,"content":"._.","text":"._.","html":"._."}],"langContent":"EN"},{"id":341159216,"gmtCreate":1617796324435,"gmtModify":1634296472036,"author":{"id":"3568731733246034","authorId":"3568731733246034","authorIdStr":"3568731733246034","name":"Moneyface","avatar":"https://static.tigerbbs.com/bd761fe3d55bd38bd86fe04152134899","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3568731733246034"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/341159216","repostId":1133711419,"repostType":4,"repost":{"id":"1133711419","pubTimestamp":1617795284,"share":"https://www.laohu8.com/m/news/1133711419?lang=&edition=full","pubTime":"2021-04-07 19:34","market":"us","language":"en","title":"Broad-based rally, strong economic data leave traders questioning how much further stocks can run","url":"https://stock-news.laohu8.com/highlight/detail?id=1133711419","media":"CNBC","summary":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad ral","content":"<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Broad-based rally, strong economic data leave traders questioning how much further stocks can run</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBroad-based rally, strong economic data leave traders questioning how much further stocks can run\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-07 19:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/04/07/traders-try-to-understand-how-much-stronger-the-economic-data-can-get.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1133711419","content_text":"Is this as good as it gets?\nIt seems like everything is working, and with good reason: the broad rally is supported by an accelerated vaccine rollout and recent economic reports which have been robust across the board.Nonfarm payrolls.  ISM Manufacturing. ISM Services. Consumer Confidence. All much better than expected.\nEven the often-dour folks at the International Monetary Fund are sounding more optimistic.  They raised their global gross domestic product forecast to 6%, from 5.5% in January.\nNot surprisingly, investors are euphoric but increasingly cautious.\n“I think the market is priced for perfection,” Kevin Nicholson from Riverfront Investment said on CNBC.  “It’s priced such that it wants to make sure that the rollout rolls out smoothly, we continue to get vaccines done, we reopen the economy and that we have a good, strong earnings season. And all of those things so far seem to be on track.”\nNot only are major averages at new highs, but other market internals, like the number of stocks advancing versus those declining, are also flashing bullish signals.\nCompanies have responded to the euphoria in a predictable way: with more stock.\nEquity issuance is at a record high. Goldman Sachs’ David Kostin estimates corporate America raised $116 billion in new capital in the first quarter, spread out between 226 SPACs and 65 IPOs. And that’s not including secondary issues.\nEverything’s up!\nLittle wonder investors are on a buying spree.\nThe large-cap S&P 500 is at a new high, and the small-cap Russell 2000 is only 3% from its new high.\nGrowth (IVW) is at a new high, but so is Value (IVE).\nLow-volatility stocks (typically utilities and consumer staples) are at a new high (SPLV) but high-volatility stocks are only 1% from a new high as well (SPHB).\nMany of the larger work-from-home stocks, derided a couple months ago as 2020 relics, are also at new highs, including Home Depot,Lowe’s,Target,Sherwin-Williams and Masco.\nMany mega-cap tech stocks, which were clobbered in mid-February on concerns about higher rates, are also back at or near new highs, including Microsoft,Alphabet,Facebook,Texas Instruments and Lam Research.\nMost travel and leisure stocks, which have been on a roller coaster ride for two months depending on whether the vaccine and virus news has seemed optimistic or pessimistic, are once again within 5% of their old highs, including Avis,Delta,Carnival Cruise Lines,Marriott and Visa.\nHow much more growth can we reasonably expect?\nAnd yet there are already signs that growth is about as strong as it can be expected to be.\nDeutsche Bank’s chief strategist Binky Chadha has noted a strong correlation between the S&P 500 and certain key economic indicators, particularly the ISM Manufacturing Index, a proxy for U.S. growth, which recently hit a four-decade high.\nChadha noted that the ISM tends to peak around 10 months to 11 months after a recession, very close to where we are now. He expects the ISM — and markets — to peak fairly soon:  “As growth peaks over the next 3 months, we expect discretionary investors to pare their positioning from extremely elevated levels, and see retail investors as unlikely to buy the dip.”\nHe expects a pullback of 6% to 10% in stocks as growth peaks over the next three months.\nStill, Covid is such a unique situation that most on Wall Street are still not quite sure if the usual rules will apply to this Black Swan event.\n“This is not a normal business cycle, and I don’t know if the rules of thumbs that applied in the past will necessarily hold,” Jack Miller, head of trading at Baird, told me.\nThe next catalyst: guidance\nWhat will make or break the markets in the coming months? While the course of the vaccine rollout and the efficacy of the virus against variants are the main macro issue, most strategists are very clear on the main short-term catalyst: earnings guidance.\nBarclays analyst Julian Mitchell reflects the opinion of most strategists: “We expect most companies that have given 2021 guidance to raise it,” he said in a recent note.\nIt’s not just raised guidance analysts and strategists are expecting. They wantmoreguidance.\n“Last year, Covid was used an excuse to stop providing guidance,” Miller told me. “You can’t use that excuse anymore. We should have more visibility now.”\nThe implication: CEOs who continue to decline to provide any guidance will likely face push-back from investors.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3979143,"gmtCreate":1617799235539,"gmtModify":1635742693477,"authorId":3571822130411286,"author":{"id":3571822130411286,"authorId":3571822130411286,"name":"Jweikit","avatar":"https://static.tigerbbs.com/b483f2ee96e5c438b841f3c0a8e4ccdf","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":341159216,"type":1,"supId":0,"prevId":0,"content":"Nice","text":"Nice","html":"Nice"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":8,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.28.1","shortVersion":"4.28.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1133711419"}