Transcript
Hello, everybody, welcome to Tuesday, the S&P 500 was up almost a half a percent today, which is great. The overall market was kind of medium altogether. We’re sort of on this stimulus rollercoaster. Still, there was some more news today that the talks are going on. And some of it was positive, you know, between Pelosi and the White House and what have you. So, you know, we’ll see what happens there, I think they have a pretty big hurdle to get over to get through the Senate with the package. So you know, we’ll have to wait and see does seem to be some momentum.
And I think that’s why we saw sort of an upward market today, probably the best news today really was dealing with clean energy as a whole was up quite a bit. The two pieces, we have two parts of clean energy, we divided them up into two create a little diversification. One was up 3.1%. The other was up 2%. Today, which is again, pretty good for a day when the S&P is up a half a percent. So New Jersey, announced today that they’re going to follow suit with California and have a you know, no gas cars being sold. And so that’s pretty interesting, you start to see some of these things happen. And there’s a lot of tailwind behind clean energy.
You know, again, the market is a betting mechanism. And with Biden leading the polls and the Senate, you know, barely leaning towards the Democratic side, if that transpires, there’s an expectation that there would be a lot of money being spent on clean energy, there’s a proposed $2 trillion program out there that they’ve been talking about. Then you have California now New Jersey, and of course, we talked about China, which is a really big story, actually, I think go through with this net zero by 2060, you’re talking about a tremendous amount of money being spent in the area of clean energy. So which is very fascinating, because energy as a whole as a segment oil and gas is still down tremendously. If when I look at the charts, you know, you see some of these things like technology and consumer discretionary, and you know, the relative strength is really good, excellent. And then you see energy, and the relative strength is straight down. Really, really poor actually. And so in the middle of, you know, this movement, and so this has been going on for a long time.
It’s not new, obviously. But it’s really catching fire right at the moment. I’d be very fascinating to see where this goes. But that trend that we jumped on, you know, three or four weeks ago, is still running right now. And that’s a good thing, too. So, good day altogether. Again, we’ll get to see what happens here with the stimulus and what’s going on as far as that goes. But look forward to talking to you tomorrow. And let’s see what happens. Thank you.