Two strategists this morning lay out the case for why they're buying stocks, even after this year's advance of more than 25 percent. Ordinarily we'd attribute this to bulls blinded by dollar signs coming into year end, though in this case the data is compelling.
Paul Hickey of www.bespokeinvest.com looked at 6-month correlations between the 500 components of the S&P 500 and the benchmark as a whole. He found only three that match the index almost move for move.
The San Francisco 49ers, a team name that pays tribute to the pioneers who struck it rich in the 1800s gold market, may have appeal that crosses over into equities as well, Bespoke Investment Group says.
Alcoa Inc., the largest U.S. aluminum producer, reported earnings that beat analysts’ estimates following a better-than-expected performance at its unit that supplies components to aerospace and power companies.
Aug. 9 (Bloomberg) -- On today's "Street Fighters," Silver Bridge Advisors' Tom Manning, Cetera Financial Markets' Brian Gendreau and Bespoke Investment's Paul Hickey discuss the markets and their investment strategies. They speak on Bloomberg Television's "Street Smart." (Source: Bloomberg)