AllMarket Summary
logoArgusFebruary 10, 2021

Market Digest: AVY, BSX, EL, EA, ETN, TT, ITW, MAN, NFG, VSH, APO

Sector(s)
Communication Services, Financial Services, Energy, Technology, Healthcare, Industrials, Consumer Defensive
Summary

There's nothing like a week-long selling jag to get the bullish juices flowing once again. After the S&P 500 set a new all-time closing high at 3,855 on 1/25/21, GameStop hysteria seized the market. A relatively small set of retail investors, embracing YOLO (you only live once), pushed GME to unsustainable highs in the mid-$300s. Although this occurred among a small group of investors in a small set of stocks, fear grew that an equity asset bubble had been discovered, and broad selling took over. By 1/29/21, the final trading day in January, the S&P 500 had fallen 3.7% or by about 140 points.

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