Macy’s Leads Retail Rally to Push S&P 500 to Record High (Bloomberg)
Holiday shopping season optimism was bolstered after Macy’s beat earnings expectations, triggering a retail rally that led to a new record high for the S&P 500. Investors also waited for comments from Federal Reserve Vice Chairman Janet Yellen and speculated on what will happen to the Fed’s stimulus. “Macy’s and retail in general has pulled up the overall market,” Tim Ghriskey, chief investment officer of Solaris Asset Management LLC, said. “Expectations were very low for the holiday season, and perhaps now they’ve been raised a bit. The backdrop around stocks remains favorable, and the market is anticipating economic improvement, which will drive revenue and earnings.”
This content is for paid subscribers only. To gain access subscribe to one of our…
It is hard to find a seasoned investor who doesn’t believe the stock market is…
No one believes a financial disaster can strike… until it’s too late. That’s bizarre, considering…
The Options Industry Council is a resource used to educate investors about the benefits and…
The put-call parity is the relationship that exists between put and call prices of the…
“It’s not a stock market, it’s a market of stocks.” -- “Maxims of Wall Street,”…