So it looks like the ‘big-man’ caved in and signed the Stimulus relief bill. Apparently his bluff was called and Congress forced his hand. It was either sign the bill or cause millions of Americans to continue suffering from a lack of income. He had to do it.
The markets clearly took this news and ran bull-strong with it. $SPY is trading up 3+ points off Thursday’s close and nearing its ATH’s. What a way to end this roller-coaster of a year.
But don’t expect it to be all ‘peaches-n-cream’, the year isn’t done yet – books still need to be cleared. So, expect the unexpected; basically, it’s business as usual.
China stocks sit at the top of headlines as regulatory fears linger. $BABA got crushed in last Thursday’s session, but is attempting its comeback to kick off the last trading week of 2020.
As you know, we don’t talk about crypto, it’s not our space, but there’s no denying Bitcoin is gaining popularity again. Its ATH’s were blown through and continues to run. Some serious paper is being put to crypto work, so let’s see how many jump on the crypto bandwagon.
Sectors are trading in a 10/1 bull split with Communication Services running the show, trading up +1.22%. Energy sits alone in the red, trading down -0.26%.
Our top 10 Smart Money Movers are:
$MYOV trading up over 25%
$RMG trading up over 6%
$EDIT trading up over 5%
$ZM trading down over 4%
$OSTK trading down over 4%
$MRNA trading down over 5%
$CHWY trading down over 7%
$CVNA trading down over 8%
$WB trading down over 11%
$LMND trading down over 9%