Unexpectedly Intriguing!
October 5, 2020

By far and away, the biggest story of the tumultuous trading week ending on Friday, 2 October 2020 was the news that President Trump had tested positive for a coronavirus infection. The news sent U.S. stock prices down on Friday by as much as 2% during the course of the day, but the market recovered somewhat to only close down by about 1%.

That rare occurrence of a non-major tax change-related political event moving stock prices however did little to change stock prices for the week. The S&P 500 (Index: SPX) ended the week about 3 points lower than the level at which it closed the previous trading week.

That change puts the level of the S&P 500 well within the redzone forecast range on our alternative futures charts, which assumes that investors are focusing on 2020-Q4 in setting current day stock prices.

Alternative Futures - S&P 500 - 2020Q3 - Standard Model (m=+1.5 from 22 September 2020) - Snapshot on 2 Oct 2020

We'll present an alternative futures chart projecting the dividend futures-based model;s potential trajectories of the S&P 500 for the fourth quarter of 2020 in our next edition. Meanwhile, here are the past week's market-moving headlines, where we find the Fed's minions making multiple appearances to very little apparent effect....

Monday, 28 September 2020
Tuesday, 29 September 2020
Wednesday, 30 September 2020
Thursday, 1 October 2020
Friday, 2 October 2020

Barry Ritholtz presents both a broader and more succinct summary of the week's headlines with his weekly presentation of the positives and negatives he found in the past week's economics and markets news.

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