Earnings & Movers
"Monday's rally in U.S. stocks pushed the S&P 500 back into the green for the year as easing lockdowns bolstered optimism on an economic rebound. The benchmark closed at a 15-week high, bringing its rally from the March low to almost 45%, while the Nasdaq 100 rose to a record."
"Macy's Inc. (M) stock skyrocketed 11% in Tuesday premarket trading after the department store retailer guided for first-quarter losses that are ahead of expectations and said re-opened stores are outperforming."
"The market is finally seeing a shift into cheaper value stocks that have long been under pressure, while momentum stocks, the darlings of the past, have lost their charm."
"Business-interruption insurance is typically part of a property policy and requires premises to sustain physical damage before a claim can be made. Since shutdowns have rarely damaged stores or factories, it has proven hard to make insurers pay up. A range of efforts are under way to force their hand, but they all face significant challenges.
Note: ETF Action's U.S. Sector & Industry AIM Portfolio currently has an overweight to insurance companies using the SPDR S&P Insurance ETF (KIE).