Investing

Traders confused by stimulus back-and-forth, have doubts about stocks

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Some are calling it “a la carte stimulus,” with aid for airlines in Column A, PPP aid in Column B. 

Whatever it is, hopes for stimulus — preelection, postelection, comprehensive package, stand-alone deal, whatever and whenever — is supporting breakouts in cyclicals like industrials, materials, consumer discretionary and banks.

Many big names like Caterpillar, Eaton and FedEx have broken to new highs. Materials stocks like Martin Marietta, Vulcan Materials and Nucor are up 10% in the last week. Even bank stocks like US Bancorp are breaking out to multimonth highs. 

For some, the cyclical rally is getting way too stretched.

“The action over the last couple weeks is baking a lot of…



Source cnbc.com

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