Posted on 02/16/2021 8:53:14 AM PST by SeekAndFind
Stocks rose Tuesday, extending last week's gains as traders returned from a long holiday weekend in the U.S.
The Dow, S&P 500 and Nasdaq came off session highs after reaching record levels shortly after market open. U.S. stocks tracked gains in European equities, after UK Prime Minister Boris Johnson said he was "hopeful" the country's stringent lockdown restrictions could be eased in the coming weeks as the vaccine rollout continues and new daily infections fall further.
Other risk assets also performed strongly. Bitcoin prices spiked to a fresh record high of more than $50,000, extending a meteoric rally after the cryptocurrency traded around $35,000 just a month ago. U.S. crude oil jumped above $60 per barrel and reached the highest level since January 2020. And the CBOE Volatility Index (VIX) declined further on Tuesday, after settling below 20 for the first time since February 2020 on Friday.
Over the past couple weeks, U.S. investors have considered prospects for additional fiscal stimulus alongside much better-than-expected fourth-quarter corporate earnings results across the board. Corporate earnings are on track to grow by about 2.9%, which would mark the first year-over-year increase in profits since the final quarter of 2019, according to FactSet. And on the fiscal stimulus front, lawmakers are racing to get another stimulus package done before a mid-March lapse in federal unemployment benefits occurs after the last round of virus relief.
"Earnings season has provided proof of an earlier than expected rebound in corporate performance, and with fresh stimulus money likely to wing its way to the American population there is reason to expect further quarterly growth," Chris Beauchamp, chief market analyst at IG Group, said in an email. "Despite all the naysayers, global stock markets, led by the U.S., continue to make headway, and seem well-set to continue doing so."
(Excerpt) Read more at finance.yahoo.com ...
They are certainly being manipulated. With the present policies being rushed into place, economic disaster is coming, so all of this is manipulation. It is a matter of getting out in time. Tricky business.
Marxist regime followed by stocks up.
Thick binders of new regulations restricting business.
Mandatory high pay for minimum wage workers.
Green New Deal.
Dependence on foreign oil again.
Advantages for China over US.
Persons of color must be on boards of directors by quota.
Household income available to spend will be lower due to taxes for welfare and other entitlements going sharply up.
What in this means economic boom? I know the CEOs do a lot of virtue signaling to pretend to like BLM and Antifa, but in reality, how can Marxism “partnership” between DC government and business work?
The market is set to fall hard. Bought SQQQ at the open.
Well, I guess everything is fine.
It’s not as though 3/4 of a million are losing jobs every week.
Tons of small businesses haven’t closed down.
And airlines, cruises, hotels, restaurants, tourism, real estate and entertainment are thriving.
I’m going to go play Mario Kart...
The destruction of the dollar continues. $1.9 Trillion stimulus on its way, followed by trillion-dollar (or more) ‘infrastructure’ bill. More “COVID relief” later in the year as the virus variants pop up and the vaccine falters?
When will the money printing stop? When the national debt hits $35 Trillion? $40 Trillion? What’s the casino limit here?
When this orgy stops it will be brutal in the extreme.
I would also suggest though to buy more Silver, Gold and Bitcoin as well.
all in the red now.
Looks like a dead cat bounce.....on wet cement.
The big boys of Wall Street are in charge again.... the little guys are going to get crushed. Given that most employment is in small business already stressed or destroyed by Covid the results seem predictable.
Yessir.
Not, it's not going to fall. When almost everyone is talking about how much more it is going to go up, all shorts have capitulated and folks are resigned to the fact that the indexes are simply just going to keep climbing into the clouds, then it will fall, and it will be like nothing any of us have ever see in regard to markets in our lifetimes and probably throughout known history.
The leading Democrats will be notified prior so they can short and then buy back the most valuable securities dirt cheap and rule like despots.
I don’t know, I’m thinking the market is looking heavy. It probably will, but hard to believe an upward trend is sustainable in 2021.
And it has done exceptionally well. I just see a 5-10% correction in the next week or so.
Whether YOU or I believe it is sustainable is irrelevant. Some very big people financially are propping it up to ethereal levels somehow.
...as the invisible hand holding a needle hovers over.....
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