Signage is displayed outside the Campbell Soup Co. factory in Toronto, Ontario, Canada.
Cole Burston | Bloomberg | Getty Images
This week, Wall Street looked to Washington as lawmakers tried to reach an agreement on a coronavirus relief package before the end of the year.
Both sides of the aisle appeared far from striking an agreement, with House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer rejecting Treasury Secretary Steven Mnuchin’s $916 billion proposal, as it featured less funding for unemployment benefits. The stimulus package was expected to come as part of the broader spending bill for the fiscal year, which also has not passed.
Against this backdrop, new jobless claims reached 853,000 last week, versus the 725,000 originally expected.
“The market is gasping and grasping for some new leadership signal. Vaccines, virus, stimulus, spending are all rather well priced into the market. People have different expectations, but they’re pretty much there as knowns in the marketplace… I think the next move, especially if you’re a trader, is probably greed. And there’s a greed catalyst out there that I think is very influential,” Sanders Morris Harris’ CEO George Ball commented.
So, how are investors supposed to find compelling investment opportunities? By turning to the pros that tend to get it right. TipRanks analyst forecasting service attempts to determine