Transcript:
Tom Vaughan:
Hello everybody, welcome to Thursday. The S&P 500 was up a little bit more than 1.4% today. The Dow did even better, more than 1.8% today. The Russell 2000 Small Cap index was up 2.7% today. That particular index has been lagging behind for a while now. So it’s kind of nice to see some breadth come through in terms of the upward movement. The NASDAQ dragged back a little bit today, it was up only .8%. But still a good day considering, you know, the situation we’ve been in since Black Friday here, with the threat of this virus and the Federal Reserve talking about cutting back on stimulus sooner. There was a second case today that was discovered in Minnesota. Another vaccinated person, but also light symptoms. Um, so far, we haven’t heard about any heavy symptoms. And again, I’ll mention this again, I think this is important.
As far as that virus goes, and how much it might impact the economy. We already know that it’s very transmissible, but the real key issue will be how the symptoms are, whether they’re light or heavy. So the market really seemed to ignore this second case today, which was quite different than what we saw yesterday. So you know, we’ll see how that plays out. It’s still early in that process as far as that goes.
But we are hearing more and more news about, you know, these companies doing quite well. And so we’re, you know, we obviously saw in the last quarter that earnings were good, but we’re hearing, you know, just little bits and pieces about the holiday season and some of the things that are happening here as far as that goes. So we are seeing some softness in the technology area, which has been a real leader for quite a while here. I think partly because of the fact that it has kind of run so far. And we’ll have to watch that and see how that plays out all together.
But good day, good day to be an investor today. I think that things are you know, going to continue to do well. Again, the basics are still here, even though they’re talking about cutting back on stimulus. They’re still doing some, even though they’re talking about raising rates, they haven’t done that yet. And they’re not talking about that until next year. So there’s some things that are happening, I think that are that are good. Again, that have been the basics that have driven this market, you know, to these upward levels, all the way since this pandemic started. So look forward to seeing what’s going to happen tomorrow. I have my show tomorrow, Talk Money with Tom, if you get a chance to join us from 12:15pm to 1:00 Pacific. We’d love to hear answer your questions on the show. Talk to you then. Thank you.