Our readers know the truth – Our affiliate, Northridge Corporation, has the best investment centered algorithm ever created based on consistent performance in predicting the direction of the S&P 500 Index and execution success rate on 248 stocks over three years. No one investment firm or professional advisory entity had excelled G-101 and its predecessors. We challenge any firm fact-check are results.
Just a few months ago when the world and the stock markets sold off by more than 80%, our G-101 algorithm declared a “V-shaped recovery for the S&P 500 Index.” When it was proclaimed we researched thousands of negative remarks, each discounted our credentials. No more. The facts are in the performance … and G-101 is second to none.
HARD FACTS FROM YESTERDAY
S&P 500 turns positive for the year; Nasdaq at an all-time high.
The S&P 500 rose 1.2% on Monday, turning positive for the year amid continued strength in value and cyclical stocks. The Nasdaq Composite (+1.1%) closed at a new all-time high, while the Dow Jones Industrial Average (+1.7%) and Russell 2000 (+2.0%) pulled ahead.
There were few macro developments to alter the market's bullish trend, allowing investors to continue to pile into beaten-up stocks that have more upside potential with a ramp-up in economic activity. Boeing (BA 230.50, +25.07, +12.2%) was one such name, including others within the airline, cruise line, energy, and retail industries.
All 11 S&P 500 sectors closed higher. The energy sector set the performance pace with a 4.3% gain, followed by the utilities (+2.6%) and real estate (+2.2%) sectors. The materials sector (+0.1%) eked out a last-minute gain as the broader market rallied into the close. The information technology sector (+0.5%) overcame an early 1.2% decline.
The Fed's loose monetary policy has played a large role in the stock market's V-shaped recovery. On Monday, the central bank expanded its Main Street Lending Program to allow more small and medium-sized businesses to receive financial support.
U.S. Treasuries ended the session mixed. The 2-yr yield increased one basis point to 0.22%, while the 10-yr yield declined two basis points to 0.88%. The U.S. Dollar Index declined 0.3% to 96.67. WTI crude declined 3.2%, or $1.26, to $38.24/bbl. On a related note, OPEC+ agreed to extend the 9.7 mbpd production output cut through the end of July.
· Nasdaq Composite +10.6% YTD
· S&P 500 +0.1% YTD
· Dow Jones Industrial Average -3.4% YTD
· Russell 2000 -7.9% YTD
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