Dan Celia: Optimism Abounds, Injecting Strong Business Sentiment into the Economy
May 27, 2020
PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia is giving his take today on why so much optimism has been injected into the markets lately.
“Stocks surged on Tuesday, adding to their strong gains, primarily due to optimism growing about reopening the economy,” Celia said. “Part of that optimism is news of 10 vaccines right now in clinical evaluation and 114 in preclinical evaluations, according to a running tally by Fundstrat. So based on those numbers, it is reasonably certain we will see a vaccine, and that, needless to say, leads to a lot of optimism. We saw the Dow up 2.2% yesterday—a very, very good day—and the S&P was up 1.2%.
“The real upside,” he continued, “is that the S&P index moving average went up a bit and continues to rise, and that’s very good news. But here’s the deal. The moving average still has not gone above a certain key level—the level it hit on March 5. The 200-day moving average, for some, indicates a long-term trend, and it’s the difference between the trend being bearish or the trend being bullish. So a lot of traders are watching that very closely. Nonetheless, I think the real good news is that Merck is joining two other groups, a vaccine maker and a non-profit research organization, to combat COVID-19. Pfizer is also getting close to clinical trials.”
Based on these developments, it’s no wonder optimism is flooding the markets, Celia added.
“It is amazing what is going on right now,” he said. “The optimism is coming into business sentiment—right where it needs to be. This is on top of President Trump saying last week that if there is a resurgence, we will put out fires, but we will not shut down the economy. And when he says things like that, corporate America believes him.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
To book Financial Issues Stewardship Ministries’ Dan Celia, contact Media@HamiltonStrategies.com or Patrick Benner, 610.584.1096, ext. 104, or Deborah Hamilton, ext. 102.