These 2 Stocks Could Be the Key to Stock Market Gains in 2021
The stock market looked poised for a positive open on Tuesday morning, as investors continued to hope for an economic rebound motivated by COVID-19 vaccine rollouts and pent-up demand from consumers. Before the open as of 8 a.m. EDT, stock market futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up about 13 points, or 0.05%. S&P 500 (SNPINDEX: ^GSPC) futures moved higher by almost 5 points, or 0.1%, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures climbed 22 points, or 0.16%.
Earnings have been coming out, and although many investors are focusing on the releases from red-hot tech companies, the key to the stock market's future success rests in businesses from other sectors. In particular, earnings reports from United Parcel Service (NYSE: UPS) and 3M (NYSE: MMM) Tuesday morning gave investors a much clearer view on how the remainder of the economy is faring. That should tell whether the gains that we've seen in the market over the past year have a chance of sustaining momentum and moving to other sectors that haven't seen the same level of performance.
Image source: United Parcel Service.
Source Fool.com
