Jason Goepfert

7-01-2020 at 5:45 pm

Daily Report : Signs of smart money buying in futures, sectors; Companies and Wall Street are raising outlooks

Smart money and dumb money confidence typically move inverse to each other. Lately, dumb money confidence has rebounded strongly while smart money confidence has not dropped as much. That is mostly due to continued buying in index futures, and corporate insiders buying shares, especially in financials and energy.; U.S. companies have been raising their profit outlooks over the past month, in some respects to a record degree. Wall Street analysts have been upwardly revising their earnings estimates and price targets, too.

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