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Wall Street strategists are arguing the stock market rally's next leg higher doesn't need broader participation.
From the labor market to homebuilding figures to regional manufacturing and a new account balance, we fill in a lot of gaps ahead of today's opening bell.
The declining short interest in SPDR® S&P 500 (NYSE:SPY) and Invesco QQQ Trust (NASDAQ:QQQ) exchange-traded funds (ETFs) to successive record lows has been supporting US equities and reducing volatility over the past year, thus serving as an implicit short volatility (vol) trade, JPMorgan strategists said in a Thursday note.