Well well well, after a month and a half off to digest the news of my first child (baby boy), I’m back in full force. Looks like I haven’t missed too much in the market thankfully. I’ve returned to find some common themes evident in the market, COVID is still present in market psychology, a new “president” hasn’t caused a market crash, and it seems that equities are still woefully overvalued being absolutely CARRIED by the tech sector. Oh and apparently Pfizer and Moderna have vaccines… Anyways, let’s take a look at what transpired in the market this week!
Nasdaq Composite – Eked out a measly 0.3425% to close out a relatively quite week. Even with the vaccine news we have new lockdown measures happening all around the world. I guess is a way this is good for tech stocks. Also Tesla…
S&P 500 – This index is not immune to lockdowns and you saw that with this being down -1.59% on the week. It’s amazing that we are still at all time highs right now but more power to the market…
Dow Jones IA – Again I believe this index is the most reflective of reality right now, and that doesn’t say much. Down -1.29% this week wasn’t as bad as it would’ve been had there been no vaccine news. With the election all but over we will see where this crazy market takes us next week. Oh jobless claims unexpectedly up by the way…
Stock of the week: $YY Is the latest Chinese stock in the thick of short sellers headlights! They were able to speak on and refute reports to have a decent bounce back. Things aren’t looking good going forward though.. Have a great weekend folks!
