We’re off to a strong start that probably surprises even the biggest bulls and angers the staunchest bears. Of course, the bears are going to be frustrated for a long time, as they need the equivalent of two nuclear bombs to land on the stock market. Be that as it may, the big boom has come from corporate earnings, hence the hodgepodge of winners last week. 

Just as many had predicted or guessed that the market would struggle out of the gate, an equally large percentage of observers thought Energy stocks would rebound, buoyed by ugly earnings that would mark the end of a difficult stretch. Instead, there hasn’t been much difference between 2019 and 2020, except the latter looks stronger. This week, there is a dearth of economic data, so it’s all about more corporate earnings and speculation about something that will never happen from a media source that has never been right.

Early 2020 Winners

It’s all about earnings. Last week’s winners also gave hope for value seekers. CarMax (KMX) and Nielsen Holdings (NLSN) might find additional buyers, and former momentum darling Arista Networks (ANET) would need to do much more to attract the hot money crowd.

However, last week was all about those banks and their strong guidance based on the strong U.S. economy:

Portfolio Approach

Today's Session

The markets are in the red this morning, but not by much, especially considering the gains of late.