- BusinessYahoo Finance
‘Astonishing’: Dumbfounded economists struggle to describe today’s jobs report surprise
May's jobs numbers left economists' jaws on the floor. Here's a roundup of what someone of them said about the unexpected gains.
15341,534 reactions - BusinessBenzinga
History Suggests Record 50-Day Stock Market Rally May Be Just The Beginning
The S&P 500 has gained a record 39.6% since it hit its 2020 low back on March 23. Not only has that rally erased much of the year's COVID-19-related losses, it's also the best 50-day stretch in the history of the market.After such a strong rally, traders are understandably getting uneasy the market is overbought and due for a pullback. However, from a purely historical perspective, the strongest 50-day periods have generally led to even more gains over the year that follows, according to LPL Financial Senior Market Strategist Ryan Detrick.A Closer LookOn Thursday, Detrick looked at the seven other times since the S&P 500 was constructed in 1957 that the index has gained at least 20% over a 50-day period. In all seven instances, the index gained at least another 5.2% in the year that followed."Big 50-day rallies in the past have taken place near the start of new bull markets, and the returns going out a year were quite bullish," Detrick wrote.What's Next?LPL found that the S&P 500 averaged a 1.1% gain over the month following the best 50-day stretches. The S&P 500 has averaged a 6.2% gain over three months, a 9.1% gain over six months and a 19.4% gain over the year following these exceptional 50-day stretches.Detrick said traders are right to be concerned about the durability of the rally in the near-term given potential red flags in the put-to-call ratios among option traders. However, history suggests the next six months to a year could be very kind to investors overall.Benizinga's TakeIt's difficult to step in and chase the SPDR S&P 500 ETF Trust (NYSE: SPY) today after the market has had its best 50 days in history. However, LPL's research suggests long-term investors with dry powder should consider scooping up S&P 500 stocks on any near-term pullbacks.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:5 Reasons The Value Stock Rally May Run Out Of Steam What The Yield Curve Is Saying About The Stock Market RallySee more from Benzinga * 5 Reasons The Value Stock Rally May Run Out Of Steam * Entering And Exiting Trades: 'What I Look For Are Those Broken Structures' * 'Price Is Truth': Analyzing Stock Chart Performance Using Technicals(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- U.S.NBC News
Police officer appears to make white power sign at protest, prompting probe
The New York Police Department said it is aware of the video and that the matter is under internal review.
- SportsThe Wrap
Charles Barkley Says Drew Brees ‘Made a Mistake’ With Anthem Kneeling Comments But Fallout Has Been ‘Overkill’
Charles Barkley reacted to the uproar over New Orleans Saints quarterback Drew Brees’ comments about athletes kneeling during the national anthem, saying he didn’t agree with Brees at all, but found the “vitriol” against him to be “overkill.”“Drew’s original statement, I thought, was insensitive,” Barkley explained during a panel discussion on NBA on TNT Thursday night.He went on, “It was very insensitive, especially during this time, but I thought the negative reaction from every talking head on television and some of his teammates was overkill. I’ve never heard a bad word about Drew Brees in my life. He made a mistake but we’ve got to a point in society where everybody on social media thinks they are God, judge and jury.”Also Read: Laura Ingraham Rips 'Stalinist' Criticism of Drew Brees After Telling LeBron James to 'Shut Up and Dribble' in 2018The former NBA star then referenced Brees’ charitable giving and hero status in the city where he plays, saying, “But I thought the way he was portrayed on television and radio today was not fair at all. Drew Brees has done some amazing things in New Orleans and in his life. I’m not even talking about football. He made a mistake in a statement.”“I’m never gonna go with the mob,” he added.Brees issued an apology Thursday after he was slammed Wednesday by fellow pro athletes and sports journalists for his original statement. When asked during a Yahoo Finance interview how he would feel if players started kneeling during the anthem Colin Kaepernick-style when the NFL season restarts, Brees said, “I will never agree with anybody disrespecting the flag of the United States of America or our country.”“I would like to apologize to my friends, teammates, the City of New Orleans, the black community, NFL community and anyone I hurt with my comments yesterday. In speaking with some of you, it breaks my heart to know the pain I have caused,” Brees wrote on Instagram and Twitter.Read original story Charles Barkley Says Drew Brees ‘Made a Mistake’ With Anthem Kneeling Comments But Fallout Has Been ‘Overkill’ At TheWrap
- CelebrityTODAY
‘Glee’ producer calls out other ‘bad actors’ on show after Lea Michele allegations
"A lot of males get away with being the bullies-in-chief," Marti Noxon said. "How come we let them get away with it?"
- U.S.BBC
Buffalo police riot squad quit to back officers who shoved man
The police union says the two officers who pushed over an elderly man "were simply doing their job".
- CelebrityDeadline
Lifetime Severs Ties With Abby Lee Miller, Cancels ‘Virtual Dance-Off’ Series
Abby Lee Miller’s decade at Lifetime has come to an end following accusations of racism. The network is not going forward with the planned Abby’s Virtual Dance-Off competition reality series announced in April. Miller also won't be returning to Dance Moms if the series that made her a star is renewed for a ninth season. […]
