Markets
Here are today’s market moves:
S&P 500 up 0.36% to 4,185.47
Dow Jones up 0.48% to 24,200.67
Nasdaq up 0.097% to 14,052.34
Bitcoin: $61,4100
US10Y: 1.58%
Gold: $1,775
What Happened?
If you had put each of the 3 U.S. stimulus checks into Dogecoin, it would be worth over $300,000 right now
People in 1980: "I bet we'll have flying cars in 2021!"
2021: A dog-themed cryptocurrency has a market-cap larger than Ford.
⚡Simple rules which makes Investing easier:
Equities = Wealth
Gold = Ornaments
Insurance = Protection
Fixed Income = Regular Income
Real Estate = Home
But observed reality:
Real Estate = Regular Income
Insurance = Tax saving
Gold = Creating Wealth
Equities = Entertainment
96.4% of stocks in the S&P 500 closed above their 200-day moving average today, the highest % ever (data goes back to 2002). $SPX
How dare people invest in bitcoin, gamestop, and dogecoin when a bank is nice enough to give them a 0.000000000000002% return on their savings.
The Fed's balance sheet grew by $84 billion in the past week, the most in a month, to a new high of $7.79 trillion.
I like to invest in businesses where management has a significant piece of their net worth in the company. It doesn't mean the company will succeed, but I like it when management has to live with the consequences of their decisions.
This Week
Tuesday: Earnings expected from Charles Schwab.
Wednesday: Earnings expected from Goldman Sachs, JPMorgan Chase, and Wells Fargo; Coinbase goes public.
Thursday: Earnings expected from Bank of America, BlackRock, Citi, Delta, and Pepsi; Weekly jobless claims.
Friday: Earnings expected from Ally, Morgan Stanley, BNY Mellon, and State Street.