March retail sales in the U.S. may have climbed by a double-digit percentage, thanks to the $1,400 stimulus checks distributed by the federal government, according to a strategist at a fund manager.
Schulze pointed out the $600 checks received in December lifted January retail sales by 8%. “This stimulus package was 2.5 times that size,” he said. Valuations of stocks, he argues, aren’t stretched. “If anything, analysts are expecting too little earnings growth in 2021 and 2022,” he said. Analysts were behind the curve in the second, third and fourth quarters of 2020, and he expects further upward earnings revisions to come.
...wait until the tax man comes to collect those $ 1,400 (plus interest)
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