As seen in this week’s Wealth Watch…
Hear-ye, hear-ye; the highly anticipated, geriatric yelling match has ensued. Around 73 million people took time to witness the Real House-husbands of Capital Hill take verbal swings at each other. If TV owners didn’t know where the mute button was before the debate, they sure do now. While audiences across the USA threw popcorn and wine at their TV screens, the stock market lit up a fat one in the alley.
He’s Beauty and He’s Grace, America
Vance Howard, CEO and President of Howard Capital Management, inc. stated, “99% of voters have made up their minds on who they are voting for.” According to his recent Wealth Watch, the presidential debate has neither swayed voters’ opinions, nor convinced them either candidate grew up with spankings. For this, major stock indexes are trading above their 50-day moving average lines. Eleven market sectors saw gains in financials, energy, industrials, consumer cyclicals, and materials. Even the small cap transportation stocks rose in the ranks as their outlook remains positive. We are sure of two things; one, the debate was a hot mess, and two, the market is apparently attracted to crazy. We all have our kinks, people. Let’s try to have fun with it.
Jump, Jump, Jump Around
The Conference board’s Consumer Confidence Index did just that as it rose 15.5 points to 101.8 in September. “When was the last time it did that?” you ask. As a matter of fact it was April 2003. These digits were accompanied by a 17.4 gain in consumer expectations, the most since May 2009. Although these numbers give reason to throw a rager, it doesn’t mean the parents won’t come early. There is hope in the horizon for businesses, but income expectations are falling flat. Looks like it’s time to throw on some Nirvana and pout.
Raise the Roof Anyway
Many showed they preferred not to live in a box as new home sales increased 4.8% in August. Sales are up 43.2% compared to a year ago and have officially outpaced 1992. Covid-19 has put a damper on many things, but the housing market is not one of them. With double-digit gains, the housing market has clipped their Cohibas and joined the stock market in the smoking circle.
Have You Heard?
Vance Howard was quoted in the Wall Street Journal, NASDAQ, as well as ETF Trends. Even though ETFs fell before the debate, Howard simply projected that everyone needed to get a hold of themselves. “It’s just the way markets work,” he told WSJ. If a champion boxer has to stop and take a break after a few good rounds, why wouldn’t anything else? Especially the stock market. And if there’s anyone who knows how to navigate the market ring like a champ, it’s Vance Howard.