AUTHOR: TOWNE SCHERER.COM/BLOG 5/29/2020: Towne Scherer Private Wealth Management BLOG:
Where Money Wants to be?
The Large Cap Asset Class and the Technology Sector remain the top-rated areas within the Domestic Equities area, according to Dorsey Wright’s DALI system, states Dorsey Wright 5/25/2020. The Dali system, which emphasizes relative strength measurements, still has Cash and Fixed income above Equities; however, Equities have moved up in recent weeks. So, this is where money wants to be?
New Home Sales are….Up?
Far more new homes sales occurred in April than expected, says Breitbart 5/26/2020. Economists expected sales of new homes to hit 485,000 and were surprised by the actual number of 623,000 new home sales seasonally-adjusted. Further, the ‘homes for sale supply’ remained at 6.3 months, a little above normal. This is not a number that speaks badly about the economy.
Unemployment Claims Tapering?
Unemployment claims continue to taper off, reports The Street 2/28/2020. 2.233 million Americans filed jobless claims for the week ending May 23, with total jobless claims exceeding 40 million over the last 10 weeks. Bad news is…good news?
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The opinions expressed in this material do not necessarily reflect the views of LPL Financial and based on the political content of this material are for general information only and are not intended to provide specific advice or recommendations for any individual. The economic forecasts set forth in this material may not develop as predicted. All indices are unmanaged and may not be invested into directly.
Russell E. Towne, LPL Financial Advisor, is a registered representative with and Securities and Advisory Services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC.