U.S. stocks suffered their first weekly loss since May last week, further exacerbating trader concern that the bullish surge that sent share prices up as much as 40% from their March lows may have been overdone.
U.S. stocks slid on Monday as investors questioned the strength of an economic recovery, while energy shares were dragged down by lower oil prices. After a sharp three-month rally, indexes have eased as traders increasingly questioned if stocks are due for a correction.
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Stocks are stalling. So says today’s Financial Times… “Major equity markets came under pressure yesterday and initial gains for commodities eroded as investors cast doubt over the global economic outlook.”
If history is our guide, then the rally we’ve seen in U.S. stocks in recent weeks is more than just a periodic run-up in share prices – it’s the initial stage of a prolonged bull market.
Campbell Soup Co. (NYSE: CPB) traces its origins back to 1869. This company has been around forever, and it has used its time well. Campbell Soup has survived and thrived through the Great Depression of the 1930s, both World Wars, and every single one of the challenges and setbacks that the U.S. economy has suffered since. The magnitude of this accomplishment is almost unthinkable.
There are all sorts of catalysts that could send oil prices even higher. We are getting just a small dose of the action today and energy-related stocks are surging.
