The Official Business Publication of Seton Hall University
Market bull and CEO of company Yardeni Research, which provides investment strategies, Ed Yardeni predicts that this coming Christmas season will be one of the best. His prediction rests on the fact that consumers are emerging from the pandemic after nearly a year and a half and thus, feel like spending.
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The electric car manufacturing giant Tesla reached a trillion-dollar market value last week. Following the announcement that car rental company Hertz would purchase 100,000 Tesla Model 3s, Tesla’s stock price rose 12.7%, raising the company’s market cap past the trillion-dollar mark.
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It is fair to say that, as it currently stands, Tesla has a firm grasp on the electric car industry. In addition to leading their industry, they are one of the most recognizable company household names, they are constantly innovating, and they are headed by CEO Elon Musk who essentially makes up the majority of Tesla’s marketing efforts by consistently drumming up press, week after week.
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When it comes to predicting future performance, the only data available to investors is the past; and that is what investors will look to when trying to decipher the direction of the stock market after November’s election.
Read moreSince the start of the pandemic, about thirty million Americans have become unemployed. This is a record high for the country, leaving many Americans relying on weekly stimulus checks to pay bills in order to pay for basic necessities.
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Initial Public Offerings (IPOs) have been sizzling as of late. This strong demand for new stocks is illuminated with the debut of cloud companies such as Snowflake and JFrog. Experts say the Federal Reserve’s decision to hold interest rates at zero for the foreseeable future has ignited the demand for IPOs while accelerating the overall stock market and, in particular, high growth techs. Troy Hooper, head of IPO content at Mergermarket, stated, “IPOs are doing well and I guess that’s what happens when you have the Fed pumping money into the financial system. The money has to go somewhere.”
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It is fitting that in a year as uncharacteristic as 2020, the stock market has experienced unprecedented volatility. When Wall Street opened its doors on January 2nd, no broker could have predicted that the Dow Jones would plummet 10,000 points over the course of three months, a historic meltdown that culminated in a 37% drop from the all-time high of 29,569.58 achieved in February. Such a nosedive was largely because of the Dow’s performance on March 12th, a day that investors refer to as “Black Thursday” due to the market falling 2,300 points.
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Though many view influential investors in the stock market and ordinary individuals as separate, they are intertwined. Income inequality and the stock market have been growing for quite some time.
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