Stock Market Is Overvalued, Expect Square-Root Recovery: Leon Cooperman | EU Stimulus Approved, European ETFs Rally & Markets Close Mixed – Daily Financial News & Insights For Tuesday, July 21, 2020

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EU Stimulus Approved European ETFs Rally amp Markets Close Mixed Daily Financial News Summary For Tuesday July 21 2020 Another day of musical chairs in the markets as the three main market indexes shifted again The Nasdaq sunk 0 8 while the Dow Jones gained 0 6 and the S amp P 500 snuck 0 2 higher Tech dipped downward from the big Amazon gains yesterday giving Apple Amazon Netflix Facebook and Microsoft a 1 loss on the day while Alphabet saw a 0 5 loss As the markets closed United Airlines announced a second-quarter loss of 1 6 billion While the stock got jumpy during the announcement at the time of publishing the share price was up about 2 in after-market trading Meanwhile Delta closed the day up 0 8 American Airlines stayed even with no gains on the day at market close and Southwest Airlines was up 1 94 on the day The European Commission approved a 750 billion euro stimulus to help the European Union countries and industries that have been impacted by Coronavirus Meanwhile the United States anxiously awaits plans for next steps in Coronavirus relief plans as programs such as the 600 unemployment benefit and other mortgage and rent relief programs reach their expiration dates https callputstrike com 2020 07 21 stock-market-is-overvalued-expect-square-root-recovery-leon-cooperman Stock Market Is Overvalued Expect Square-Root Recovery Leon Cooperman The U S stock market and the economy are lacking many of the underlying principles previously used to explain them historically Those are sentiments echoed by hedge fund billionaire Leon Cooperman He is the chairman and CEO of Omega Advisors a New York-based investment advisory firm managing over 3 3 billion in assets under management According to the billionaire investor at current levels the market is overvalued having failed to price in or factor some of the developments that signal economic growth stagnation If you go back to your school days you have a sharp movement down you have a bounceback but the growth rate in the economy going forward will be less than people think Cooperman said and predicted the market will see a square-root shaped recovery similar to his thoughts following the 2009 market crash https callputstrike com 2020 07 21 stock-market-is-overvalued-expect-square-root-recovery-leon-cooperman — This episode is sponsored by Anchor The easiest way to make a podcast https anchor fm app — Send in a voice message https anchor fm callputstrike message Support this podcast https anchor fm callputstrike supportClick here to visit this podcast episode

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