Payne's Perspective: January 6, 2020: Starting With A Bang!
There have been two sessions in 2020 - talk about starting with a bang!
The first session saw stocks surge in jailbreak fashion on Thursday, as each tick higher forced another fence-sitter to act, which triggered another tick higher. The market picked up steam, and the only thing that stopped major indices from going higher was the closing bell.
The action was not unlike how the market finished out in 2019, overcoming lackluster actions, but finding a late spark to put an exclamation point on a great year and a great decade. It was the kind of year and decade that can be maintained much longer.
On Friday, the market tumbled from a bang that reverberated from Baghdad and around the world, and the drone strike against the world’s most dangerous terrorist. It was great news to rid the world of such a devious mind amid plotting more carnage.
Market commentators took the opportunity to imagine a great war between the United States and Iran (many mused how difficult it would be for America), but that is unlikely to materialize. On that note, however, we might move into a period of increased volatility as the anxiety-filled valuation increases ahead of the earnings season.
To read this week's Payne's Perspective, along with his stock recommendations, contact your account representative or email us at email@example.com.
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