I think the market is beset with tenacious negativity. It's a 'glass is half empty' attitude in the market, where bad news is interpreted as bad news and any good news is just OK.
I think the market is beset with tenacious negativity. It's a 'glass is half empty' attitude in the market, where bad news is interpreted as bad news and any good news is just OK.
Today, there isn't any economic news, and the earnings news is having an impact on those stocks but not the broader market.
But I think the way the market is acting is actually healthy. You're seeing a real resilience on the part of the market. You're seeing a willingness to shrug off or contextualize not great news, which is a big improvement over June and July, when if the market was open, it was down.
The CA investigation is an ongoing thing. They've had problems long before accounting scrutiny was fashionable, so the impact of that is muted. There is the sense that the market wants to shrug off the bad news.
It's a mixed picture. There's no question that the news is a lot better, but it may be priced into the market.
© 2020 Inspirational Stories
© 2020 Inspirational Stories