Nasdaq S & P Highest Price Continued Rotation to Value Stocks

The Chicago Board Options Exchange (CBOE) Volatility Index (VIX Index), which shows investor anxiety, fell below 20 for the first time since February last year, showing an improvement in sentiment.

Thomas Hayes of Great Hill Capital said that as the U.S. business cycle approaches the turning point, growth stocks continue to rotate to value stocks and cyclical stocks, and these stocks are expected to lead the market in the future. It was.

President Biden will meet with the governor and mayor to implement a $ 1.9 trillion new coronavirus rescue bill on the 12th to help millions of unemployed and reopen schools. I complained that it was necessary.

Gross domestic product (GDP) growth is expected to reach pre-Corona levels within the next year, as President Biden’s large fiscal spending will help drive economic activity, according to a Reuters survey. ..

Meanwhile, the University of Michigan Consumer Confidence Index (preliminary figure) announced in the morning was 76.2, which was lower than the January confirmed figure of 79.0, contrary to market expectations. As the government prepares for further economic measures following the epidemic of the new coronavirus, views on households with annual incomes of less than $ 75,000 have deteriorated.

The Russell 2000 Index, which consists of small cap stocks, has risen five weeks out of the last six weeks.

Payment service giant PayPal is up 4.7%. Several securities companies have raised their target prices.

Entertainment giant Walt Disney hit a temporary high, but ended at 1.7% lower. The first quarter (October-December 2020) financial results announced after the closing of the previous day turned into an unexpected surplus.

Bumble, a matching app operator that went public on the Nasdaq on the 11th, closed at 7.3% higher.

The combined trading volume of the US exchange is 13.27 billion shares.

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On the New York Stock Exchange, the number of falling stocks exceeded the number of rising stocks by a ratio of 1.35: 1. In Nasdaq, the number of stocks that dropped by 1.22 to 1 was large.

The US stock market will be closed on the 15th of the week, which is a public holiday on President’s Day.

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