S&P 500 stock Estee Lauder is pricey, but there may be another way for investors to play retail and capitalize on strong consumers. | Source: Shutterstock
By CCN Markets: The S&P 500 is comprised of nearly a dozen sectors, all of which traded in the green today. Leading the charge is skincare stock Estee Lauder, which is a reflection of the strong consumer that continues to keep this economy afloat. The stock is currently hovering at a new 52-week high after Estee Lauder reported stronger-than-expected earnings and provided a sunny outlook for 2020. Estee Lauder has factored in the impact from the tariffs, so any surprise to the upside on that front could unlock further gains. The timing of the earnings was also good as investors were able to focus on fundamentals while bond yields finally rose today.
The Dow Jones ended the day hovering above 26,000 to 26,136, about 800 points higher than last week’s bottom, while the S&P 500 ended 1 percent higher to 2,923. The Nasdaq was the best-performing index by increasing 1.5 percent. We won’t mention any names, but somebody sitting in Washington, D.C. is no doubt pleased with today’s performance.
When you mess with the bulls you get the horns
Old #stockmarket saying
— Deepak R Khemani (@DeepakRKhemani) August 19, 2019
Stock market bull and Fundstrat Co-Founder Thomas Lee is reminding investors to “buy the dip.”
Fyi. This tweet below adds to factors supporting a sustained rise in stocks…