Chart of the Day - Wednesday, September 2nd, 2020

Today’s Chart of the Day was shared on Twitter by Strategas Research Partners (@StrategasRP). It's a chart of the IPO index over the past three years on both an absolute (top) and relative (bottom) basis. The IPO index is comprised of recently listed US companies. Right now, the top five holdings include $ZM, $UBER, $PDD, $MRNA, $CRWD. In a comment to The Chart Report, Todd Sohn of Strategas told us, "The fact that this high beta group is at all-time highs on both an absolute and relative basis is further evidence of risk appetite and liquidity. We consider this price action to be supportive of the bull case for stocks."