Payne's Perspective: October 28, 2019: Value At Record Highs
10/28/2019
Midway through Earnings – My Observation is We Are Enjoying Life Halfway through earnings season, and there are a bunch of stats I could share with you. However, for me, the reaction of the stock market is what’s most important. On that note, the market is cheering the fact Americans have enough money and confidence to keep the party going. This is so important for investors to understand. People are buying stuff they don’t need, but want the following:
People are also sprucing up the inside of their homes rather than the kind of projects we’ve seen designed to make their homes easier to sell. Check out the action in furniture stocks this earnings season with big carpet maker Mohawk (MHK) rocking last week. Ironically, lower new home prices could also hasten the emerging trend of household formations, underscored by the steady rise in single-family home building permits and starts. These households are part of the foundation of future American prosperity. To read this week's Payne's Perspective, along with his long idea, contact your account representative or email us at info@wstreet.com.
Charles Payne
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