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Some bits of great news!
A series of positive developments that analysts expect to continue through the year and carry on to the next unfolded this week.
These are the strong showings of the energy and bank sectors leading the charge in rallying stocks just as the world economy re-opens from the effect of the COVID-19 lockdown.
With the Dow Jones Industrial Average increasing by 400 points this week, the NASDAQ by more than 200 points and several stock markets around the world reporting positive closing figures, investors are now taking a liking on stocks from essential industries like those belonging from the banking and energy sectors.
And there’s more…
Leading the pack of stocks gainers are JPMorgan Chase ( ) and Bank of America ( ), both banks increased by 2.5%, while energy giant Chevron ( ) rose by almost 3%, as investors starts eyeing in-demand stocks outside of the technology industry.
Other European banks also showed improvements with BNP Paribas ( ) rising by 5.2%, HSBC ( ) by 8.9% and ING ( ) by almost 5%.
Have you heard?
Today’s market is being led by energy and financials, but it’s a very well-balanced market. Every sector is participating in this rally.
Said Chief Investment Strategist Tim Ghriskey as quoted by Reuters
And with a weak month, it’s possible that some rebalancing could happen and this move allocations on equities which is already happening.
There’s been a lot of froth in markets recently that has been washed out. It will remain volatile in the coming weeks, but overall the trend will remain upward.
Says Hani Redha, a portfolio manager at PineBridge Investments, to the Wall Street Journal
Redha added that the economy “is in the early stages of a multiyear expansion“.
The rebound is in motion as both the energy and financial industries which suffered the brunt of the lockdown measures following the COVID-19 pandemic, are now experiencing the biggest gains among the major S&P 500 sectors.
Not surprisingly enough…
A reverse domino effect is starting to take shape.
American Airlines ( ) also expects a stock rebound in the coming months following the positive development of securing a $5.5 billion government loan that will be used to boost up operations and drive more revenue.
American Airlines’ stock rose by 3.8%. This pulled the S&P 1500 Airlines index by an increase of 4.1%.
Boeing ( ) also played a role in the stock rebound by reporting a 6.4% stock hike after the company’s 737 MAX was given evaluation flights this week by the US Federal Aviation Administration.
Other stocks starting to pick up worth across the board includes: Uber Technologies ( ) and Devon Energy ( ).
Wait, there’s more…
Experts agree that the stock market is expected to return to pre-COVID-19 pandemic levels by the middle of 2021, making today the most opportune time to invest on stocks that are forecasted to yield major comebacks in the post-pandemic global economy.
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The economy is getting back on track
As the world economy gets back on its feet after being temporarily knocked down by the 2020 pandemic, several stocks of profitable and successful companies are expected to take the lead in the brewing stock market rally.
This is the best time to chance upon investing on a prime stock that will offer a high-yield reward soon.
As the economy turns a page and continues the upward trend, expect a wide selection of stocks from across many industries to also gain values.
Exciting times are indeed ahead for every investor.
Remember to keep that investing spirit alive and pour your money wisely on stocks that are hard to crack.
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