Barron's: "The Dow Gained 580 Points Because No One Knows If the Stock Market Is Going Up or Down"

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Barron's: "The Dow Gained 580 Points Because No One Knows If the Stock Market Is Going Up or Down"

Excerpt from Barron’s quoting DataTrek’s Nick Colas:

…. “That’s a fancy way of saying the market is sending mixed messages—and investors are receiving them loud and unclear. In a survey of 341 investors, DataTrek found no clear consensus about how the S&P 500 market would finish 2020. Up more than 10% from here Friday’s close garnered 20% of the vote, while 21% said the market would rise 5% to 10%, 21% said within 5% of current levels, 18% said down 5% to 10% from here, and 19% said down more than 10%. That’s just about one-fifth of respondents putting themselves in each of the five baskets. “The bottom line is that we’re in a conviction-less market,” writes Nicholas Colas, co-founder of DataTrek Research“….

Read the full article here in Barron’s!