Mike Santoli’s market notes: Indecisive motion, Tesla and Zoom bounce, buyers reduce threat

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A person lies on a bench outdoors the New York Inventory Alternate (NYSE) on July 13, 2020 at Wall Avenue in New York Metropolis.

Johannes Eisele | AFP | Getty Photos

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That is the every day pocket book of Mike Santoli, CNBC’s senior markets commentator, with concepts about tendencies, shares and market statistics.

  • Tentative, indecisive motion thus far. Because the Cantor buying and selling desk places it: “market feels nervous in each instructions” after the August ramp, the three-day dump and an honest bounce that nonetheless did not even get the S&P again to the place it ended final week.
  • Market immediately rewarding home restoration/reopening performs (journey, on line casino, chain retail/eating places) most nonetheless deeply underwater wanting again six months. Equal-weighted client discretionary is up, beating the S&P 500 by half a p.c noon. Some ongoing bounces within the progress leaders that corrected essentially the most (Tesla, Zoom) however not a broad dip-buy within the Nasdaq.