Here are today’s market moves:
S&P 500 up 0.10% to 3,943.34
Dow Jones up 0.90% to 32,778.64
Nasdaq down 0.59% to 13,319.86
Gold: $1,724
Bitcoin: $56,712
US10Y: 1.626%
What Happened?
What percentage of your waking hours is spent looking at a screen? Probably more than 50%. If so, most of the rest of your life will be spent in the matrix.
OUCH! 10y US Treasury yield surged to 1.63%, reaching its highest level in more than a year. The yield rose as much as 9.3 basis points, and surpassing levels reached during an earlier selloff on March 5.
BREAKING: U.S. tops 100 million Covid vaccine doses administered, 13% of adults now fully vaccinated
Attorney: Your father left you his entire estate. One NFT valued at $24.7M.
Son: Wow! Can I sell it?
Attorney: No.
Colossal increase in US household liquidity in 2020.
$16.5 trillion total now sitting in bank accounts/money mkt funds at 0% yield!
Exit tsunami from 0% cash not yet started..
..means #Bitcoin will run a lot further..
..and yields in digital world to drive #Stablecoin boom.
This Week
Monday: Earnings expected from H&R Block.
Tuesday: Earnings expected from Stitch Fix and Dick's Sporting Goods.
Wednesday: Earnings expected from Asana, Bumble, and Campbell Soup; Roblox goes public; U.S. February consumer price index data released.
Thursday: Earnings expected from DocuSign, GoodRx, Oracle, Poshmark, and Ulta; Weekly jobless claims; The European Central Bank holds its monetary policy meeting.
Friday: One year anniversary since the March 2020 Covid-19 lockdowns began.