• Ben Rains and Dan Laboe Agree to Disagree on market valuation – is it still overvalued after this correction? Or is it harder to compare because of historically high valuations and a different interest rate environment? And does this tech-driven rally play a part?
• Kevin Matras answers questions covering what you should do about the recent pullback and what stocks will do ahead of the election in Zacks Mailbag
• Sheraz Mian and Dan choose one portfolio to give feedback for improvement
• Market conditions from both fundamental and technical views
• The full list of top-performing stocks over the past 30 days
• New stocks added to the Zacks Ultimate portfolio
• And much more
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Even though the Fed told the market what it wanted to hear, stocks still moved mostly lower on Wednesday as tech again came under pressure.
It looks like we’re going to have these historically low rates for years to come. The Fed doesn’t expect any hikes until 2023 as it continues to do all it can to keep this economy moving amid unprecedented conditions.
Stocks initially moved higher on the news because there are two things the market can’t get enough of right now: vaccine progress and free money.
However, the momentum was only temporary as stocks moved sharply lower late in the session. The only index to manage a positive close was the Dow, which inched forward by 0.13% (or nearly 37 points) to 28,032.38 for its fourth straight day of green.
But the other major indices saw their first negative closes of the week. The NASDAQ had the sharpest decline of 1.25% (or nearly 140 points) to 11,050.47, while the S&P slipped 0.46% to