As the Dow hovers near a record 22,000, Craig Hodges says it’s been an incredibly narrow market with mispriced stocks and what he sees as disconnects. He thinks the rotation out of the momentum stocks and into some of the laggards is healthy.
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Definitions of Terms:
Gross domestic product (GDP) is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.
Index Definitions:
The Dow Jones Industrial Average is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange and the Nasdaq.
The Nasdaq is a computerized system that facilitates trading and provides price quotations on more than 5,000 of the more actively traded over the counter stocks. Created in 1971, the Nasdaq was the world's first electronic stock market.
The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as a representative of the equity market in general.
One cannot invest directly in an index.