Business
S&P 500, Nasdaq rally on Apple, Tesla – The Australian Financial Review
US stocks ended mixed, with a late rally, as buy-the-dip retains its pull, even amid concerns about more stimulus and the availability of vaccines.
In a note, Bank of America said early earnings season results showed that investors, perversely, were penalising companies for lifting guidance.
The last time we saw such a perverse market reaction to earnings was during the second quarter of the 2000 earnings season, after which the S&P 500 fell by 13 per cent over the next three months amid a marked change in leadership, with value outperforming growth.
Oppenheimer chief investment strategist John Stoltzfus said while value stocks caught a bid…
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