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Entrepreneur
Kurra Bewarse
Username: Entrepreneur

Post Number: 3287
Registered: 05-2011

Rating: N/A
Votes: 0

Posted on Monday, March 01, 2021 - 2:47 pm:   

Why market is up today?

The stock market has been quick about buying last week's dip, motivated by a cadre of supportive influences:

The S&P 500 holding support at its 50-day moving average despite an ugly close on Friday

The FDA granting emergency use authorization for Johnson & Johnson's (JNJ 160.10, +1.64, +1.0%), one-shot COVID vaccine

The House voting to pass the $1.9 trillion stimulus plan (it now goes to the Senate)
Some improvement in the Treasury market, with cushier gains in the belly of the curve. The 10-yr note yield, which hit 1.61% at its high last week, is down to 1.42%.

Solid rebound activity in foreign stock markets
A round of stronger than expected February manufacturing PMI readings out of Japan, Europe, and the U.S., all of which were also above the expansion mark of 50.0. The U.S. ISM matched the August 2018 reading as the highest since May 2004.
Typical first-of-the-month inflows

Warren Buffett's reminder in his annual letter to Berkshire Hathaway (BRK.B 249.12, +8.61, +3.6%) shareholders to "never bet against America."
At the moment, it doesn't appear many people are betting against the stock market.



All 11 sectors are higher, with gains ranging from 1.4% (health care) to 3.7% (energy). The major indices are all up at least 2.2%.

Micro caps, small caps, mid caps, large caps, and mega caps are all rallying.

Growth and value factors are working, as are cyclical and countercyclical sectors.

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