Global stock markets are subdued this morning as hopes dwindle that a fresh U.S. economic stimulus deal will be reached before the presidential election on Nov 3.
Although local governments are doing everything they can to prevent a second wave of COVID-19 from happening, conditions in Europe just keep getting worse. Some cities have already applied new restrictions, such as curfews and restricted travel, to contain the virus.
But I’m calling it right now: Wave 2 is on the way…
In the U.S., the main focal point for investors has been economic aid given the crippling setback from social distancing restrictions and business shutdowns. While most stocks are trading higher this month, the stock market has been choppy from day-to-day.
In today’s video, I have more on where we stand in terms of the economy… momentum levels for the three major U.S. indexes… and a few stocks primed for potential breakouts.