S&P 500 Bull Market Report

S&P 500 Continues Bullish Trend: What is Driving It Up?

The S&P futures are higher up 15 points in pre-market trading. There are factors that can derail a BULLISH market trend.  The stock has recovered almost completely from the coronavirus crash, and it appears to be continuing its upward trend.

S&P 5003271.12Buy
CONSUMER DISCRETIONARY 1145.811.28%14.441160.31135.64Buy
CONSUMER STAPLES 642.01−0.14%−0.88642.25634.3Buy
HEALTH CARE 1228.58−0.55%−6.811234.931212.97Buy
INDUSTRIALS 605.88−0.40%−2.45607.2595.87Buy
INFORMATION TECHNOLOGY 1942.392.50%47.451942.81893.97Buy
MATERIALS 379.770.11%0.43380.58374.93Buy
REAL ESTATE 224.82−0.16%−0.36225.19221.79Buy
COMMUNICATION SERVICES 191.690.77%1.47192.27188.92Buy
UTILITIES 309.120.20%0.62309.83304.67Buy
Financials 399.060.01%0.04399.25393.67Buy
ENERGY 272.09−0.69%−1.90273.99266.58Strong Sell

BULLISH DRIVERS – The Trump administration was said to be looking at ways to support the economy if Congress failed to reach an agreement on a stimulus package. White House chief of staff Mark Meadows said that the White House was not optimistic about a stimulus deal being agreed to in the near term.

Approximately 60% of the S&P 500 companies have reported earning and 12 of the DOW with generally positive and optimistic outlooks. Robust manufacturing data from Europe and Asia sparked increased optimism over the global growth picture.

BEARISH DRIVERS: Neel Kazhkari, President of the Fed Bank of MN in Minnesota, stated that the US could need to shut down their economy again. He also urged Congress to provide more financial support. A further shutdown for the coronavirus is highly unlikely, and the infection rate seems to be declining.

What to watch for this Week

Investors who are looking for direction should keep an eye out on Congress and the White House. Any signals from the Federal Reserve about the health of an economy are also important. Investors should wait to see how the US manufacturing and additional earnings data are performing.

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