U.S. markets opened mostly to the downside on Thursday following mixed economic news with Tech showing some strength to start the session. However, news that the Supreme Court rejected President Trump’s bid to block a New York subpoena seeking his tax returns led to additional selling pressure.
It’s hard to trade stocks when they are at (or near) their all time highs.
Sometimes it’s hard to see stocks continuing to rise into unseen levels. But, if you had that mindset three weeks ago, you would’ve missed out on some serious gains.
U.S. markets were sluggish throughout the first half of action on Wednesday as the major indexes traded on both sides of the ledger and in tight ranges. News that President Trump said Americans can look forward to another round of stimulus checks before the end of the year was offset by the continuing rise in coronavirus cases.
Right now, the U.S. economy is teetering between being able to support itself and taking a major dip. With all the madness going on in the world (and markets), I keep hearing friends and colleagues ask themselves if they’re prepared for a recession.