Markets
Here are today’s market moves:
S&P 500 up 0.82% to 4,201.62
Dow Jones up 0.93% to 34,548.53
Nasdaq up 0.37% to 13,632.84
Bitcoin: $56,037
US10Y: 1.57%
What Happened?
Active Investing = “After buying and selling more than 1,419 different stocks, I have returned 11% this year.”
Passive Investing = “After buying a S&P 500 index fund, I have returned 11% this year.”
What I worry about the most: Nobody, and I mean nobody, has a clue what the ramifications are of all this combined monetary/fiscal stimulus. They have not thought this through & they are trapped.
As long as there are no obvious consequences everyone remains complacent.
In 2004, Mark Zuckerberg started FB in a Harvard dorm room. Now, he is worth $120B but has to manage 58k people and is blamed for all the worlds problems.
If, instead, he created a joke crypto coin based on a meme dog, he'd be just as rich and never had to leave that dorm room.
The fact that it's extremely difficult to find an objective, unbiased news source, that just reports facts and doesn't hide or distort stuff, is a problem of catastrophic proportions.
This Week
Monday: Earnings expected from Estee Lauder and Lowes.
Tuesday: Earnings expected from CVS, Hyatt, Lyft, T-Mobile, and Under Armour.
Wednesday: Earnings expected from Etsy, GM, Paypal, and Uber.
Thursday: Earnings expected from GoPro, Penn National, Roku, and Square.
Friday: Earnings expected from DraftKings and Nikola.