Transcript
Hello, everybody, welcome to Monday, a really good day today, the S&P 500 was up 1%. It opened on a gap up from where it ended up on Friday. And it ended up on a really strong run, actually, to finish the day. So really good day, we kind of need to see that, once you break into the all time high, we need to see some distance from that high to kind of keep things rolling. And we don’t end up with this kind of double top like we had in 2000, 2008 downturn.
We’re still not out of the woods for that yet. But it’s really nice to see this movement away from that high and start to see this run. So good, good stuff, very solid. I think the big, interesting information today was the leadership. So I like to use these broad market indexes. And these targeted indexes from three main companies from Vanguard, BlackRock and State Street. They’re the three biggest, and I like the liquidity. So there’s 415, stock related indexes that they provide, I kind of have all on one list right here. And during the day, they’re ranked by rate of return for the day. So I can see where the leadership is, I think that’s useful to see.
So last week, leadership was us all of our targeted indexes. I spent a big chunk of this weekend digging through all the portfolios. And when we had a phenomenal week, and we’ve had a really good year so far. But today, the leadership came from those types of industries that really need the virus to go away in one way or another some type of vaccine or cure, there was some positive news today that the market took to heart. And we saw oil and regional banks and aerospace value stocks, real estate, small cap value, mid cap value.
During this recovery, we haven’t seen those stocks run, you know, consistently. But this is about the fifth time we’ve seen them run it, they failed to really hold on in the other four instances. And so we’ll have to see what happens. But I do think that’s the big news for the day. And it’s something will have to follow through and see what’s happening here. And I think it’ll be very fascinating to see where this thing ends up as far as that goes. So good day all together. Look forward to seeing what’s going to happen tomorrow, and we’ll talk to you then. Thank you very much.